US crypto investors are still stacked with Memecoins despite the major risk: Kraken Survey
Crypto investors are still stacked with Memecoins despite outsized risks associated with this type of digital asset, Kraken said in a report on Wednesday, after conducting a survey of US holders.
85% of respondents said they were investing in Memecoins, and 76% said they believed that “potential reward justifies risks.”
Surprisingly, “44% of crypto holders believe that Memecoins will improve the Crypto market credentials,” and 42% said they hoped they would survive other cryptocurrencies this year, the report said.
The fear of missing (Fomo) is mentioned as one of the leading reasons for investing in the utmost champions of these cryptos. Recommendations from friends and family, and the cheerful nature of the tokens are also mentioned as reasons to invest.
Memecoins have caught attention recently, but for all the wrong reasons. The bright Libra token rugpull has Damn The Argentinian government. Crypto advanced to a market cap that was around $ 4.5 billion before a 90%crash.
29% of memecoin holders said short-term benefits were the main reason they bought these cryptocurrencies, with 23% mentioning the difference as another reason to invest.
Women are more likely to buy cryptocurrencies than men. 86% of Crypto -holding women said they invested in Memecoins compared to 84% of men, the survey showed.
Kraken reviewed nearly 800 crypto holders in the US on January 9 2025.
Read more: Libra bright rug pull is the latest ‘Sordid episode’ emerging from Solana’s Memecoin Complex: Galaxy
