#Memecoins🤑🤑 have a low survival rate, with approximately 97% ceasing to trade or dropping to near-zero volume shortly after launch. Only a few, such as $DOGE and $SHIB , have demonstrated longevity - #BinanceResearch2024

Some organized groups, or "cabals," manipulate #memecoin prices by creating artificial hype and executing pump-and-dump schemes, exploiting retail traders. This calls for caution and vigilance among investors - #BinanceResearch2024

#Memecoins🤑🤑 resonate with buyers through shared narratives and cultural symbols rather than technological value. Their appeal is often rooted in the humor and community dynamics of digital culture, making them a "vote" against traditional finance and established socioeconomic structures - #BinanceResearch2024

Since 2022, memecoins' share of the crypto market (excluding #Bitcoin , #Ethereum , and #Stablecoins ) has nearly tripled, reaching 11% of the total market capitalization by 2024 - #BinanceResearch2024
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While memecoins can foster community engagement, overemphasis on such speculative assets may divert resources and attention from more innovative, technology-driven #blockchain projects. This could limit the crypto industry’s overall progress.
The report concludes that while #Memecoins🤑🤑 highlight blockchain’s potential for building communities, they also pose risks and challenges, particularly concerning sustainability and long-term value - #BinanceResearch2024

Rising inflation and a depreciating fiat currency have led to increased investment in alternative assets, including #Cryptocurrencies . Young investors seek higher returns and are attracted to #memecoins for quick gains as opposed to traditional, slower wealth-building methods - #BinanceResearch2024

#Memecoins promote fairness, transparency, and accessibility. Unlike many crypto projects that rely on private funding rounds, memecoins typically launch publicly, allowing equal access for retail investors - #BinanceResearch2024