What risks threaten the meme coin market?
The market of meme coins has grown significantly since the introduction of Dogecoin in 2013, and by June 2024, its market value has reached 60 billion dollars. In March alone, the asset class accounted for $13 billion in cash trading volume on exchanges, surpassing major cryptocurrencies such as Ethereum and Solana. However, the sector faces risks. According to a recent CoinShares report, the high concentration of assets among meme coin holders highlights the risk of market manipulation and liquidity challenges.
