Recently, as musician Iggy Azalea teased Ethereum co-founder Vitalik Buterin, experts in the cryptocurrency field have launched a heated discussion on the value of "meme currencies". According to data from cryptocurrency trading platform Bybit, institutional investors' holdings of meme currencies have surged by about 300% since January this year.
Meme currencies, controversy and opportunities coexist
Although institutional investors hold a large number of meme currencies, this phenomenon has still caused widespread controversy. Meme currencies, that is, digital currencies based on online memes, such as Dogecoin (DOGE), Shiba Inu Coin (SHIB) and PEPE, their prices are often affected by social media and public sentiment, and are extremely volatile.
Institutional investors are hot, what is the prospect of meme currencies?
After Iggy Azalea's teasing incident, experts in the cryptocurrency field have expressed their views. They generally believe that although meme currencies have greater risks, their unique social attributes and broad mass base give them huge market potential.
Data reveals: Which meme currencies do institutional investors love?
According to Bybit data, the most popular meme currencies among institutional investors are PEPE, SHIB and DOGE. Among them, DOGE's institutional holdings are as high as 36%, while individual investors hold 24.5%. This data shows that both institutional and individual investors regard DOGE as an important asset in the field of meme currencies.
Expert analysis: Why are meme currencies popular?
Bybit analysts pointed out that DOGE is favored by institutions and individuals mainly due to its high liquidity and relative stability.
In addition, PEPE and SHIB on Ethereum have also attracted much attention, showing the diversification trend of the meme currency market.
With the continuous development of the cryptocurrency market, meme currencies, as a unique investment category, will gradually increase their market position and influence.
