Memecoins
53% of investors use the “scattershot” strategy for memecoins,
TALLINN, Estonia, July 01, 2024 (GLOBE NEWSWIRE) — Memecoins are on the rise in popularity compared to DeFi tokens. AMBCrypto’s exclusive survey in its June cryptocurrency market report reveals a significant trend among memecoin investors. This highlights a major shift towards high-risk, high-reward strategies in the cryptocurrency market.
- Popular Strategy: A surprising 53% of memecoin investors are taking a “dispersed” approach, placing small bets on a range of memecoins in pursuit of large returns.
- Short-term securities: About 35% of investors hold their investments for only a few weeks, aiming to capitalize on quick gains, while 9% sell immediately when prices rise, demonstrating diversified approaches to memecoin trading.
- Community Influence: Highlighting the social aspect of cryptocurrency trading, 47% of investors believe that a strong community and sustained hype are key to a memecoin’s success. This indicates a shift toward value driven by collective belief and social validation rather than traditional financial metrics.
The report further delves into the monthly review of the cryptocurrency industry, along with a full discussion of Bitcoin, Ethereum, and Cardano. Access the report Here.
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