TALLINN, Estonia, July 01, 2024 (GLOBE NEWSWIRE) — Memecoins’ popularity has been rising as compared to the DeFi tokens. AMBCrypto’s exclusive survey, in June’s crypto market report, reveals a significant trend among memecoin investors. Thus, highlighting a major shift towards high-risk, high-reward strategies in the cryptocurrency market.
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Popular strategy: A striking 53% of memecoin investors are adopting a ‘scattershot’ approach, placing small bets across a range of memecoins aiming for big returns.
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Short-term holdings: About 35% of investors hold their investments only for a few weeks, aiming to capitalize on quick gains while 9% sell immediately on price rises, demonstrating varied approaches to memecoin trading.
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Community influence: Highlighting the social aspect of cryptocurrency trading, 47% of investors believe that a strong community and sustained hype are pivotal for a memecoin’s success. This indicates a shift towards value driven by collective belief and social validation rather than traditional financial metrics.
The report further delves deeper into the monthly review of the crypto sector along with a comprehensive discussion of Bitcoin, Ethereum and Cardano. Access the report here.
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