Memecoins
53% of Investors Use “Scattershot” Strategy for Memecoins, Exclusive AMBCrypto Survey Finds
AMBCrypto
TALLINN, Estonia, July 01, 2024 (GLOBE NEWSWIRE) — Memecoins have been growing in popularity compared to DeFi tokens. AMBCrypto’s exclusive survey, in the June Crypto Market Report, reveals a significant trend among memecoin investors. This underlines a major shift towards high-risk, high-reward strategies in the cryptocurrency market.
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Popular strategy: Strikingly, 53% of memecoin investors take a “spread” approach, placing small bets on a range of memecoins with the aim of achieving large returns.
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Short term assets: About 35% of investors only hold their investments for a few weeks, aiming to capitalize on quick gains, while 9% sell immediately if prices rise, 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 essential to a memecoin’s success. This indicates a shift toward value driven by collective belief and social validation rather than traditional financial measures.
The report also delves into monthly analysis of the cryptocurrency sector as well as a comprehensive discussion of Bitcoin, Ethereum, and Cardano. Access the report here.
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