Institutional Investors' Interest in Memecoin Increased by 300 Percent! Here are the 4 Indispensable Altcoins for Their Portfolios!
Release: 2024/06/07 00:54 Reading: 653
Institutional Investors' Growing Interest in Memecoins
According to a report from the cryptocurrency exchange Bybit, institutional investors have invested significantly in memecoins this year, with investments exceeding hundreds of millions of dollars. This represents a substantial increase of over 300% in institutional investment compared to 2024.
Bybit's data reveals that corporate investment in memecoins peaked in April, reaching $300 million. Institutional investors have primarily invested in memecoins with substantial market capitalization, such as Dogecoin (DOGE) and Shiba Inu (SHIB). Notably, BONK has emerged as a popular choice among institutional investors, with $75 million invested in its tokens.
Institutional investors hold approximately 36% of their portfolios in memecoins, while individual investors allocate 24.5% to DOGE. Both groups have also shown interest in PEPE and SHIB, with individual investors allocating 20.95% and 14.61% of their portfolios to these memecoins respectively, while institutions hold 22.23% and 10.39%.
Bybit analysts conclude that memecoins are gaining traction among institutional investors:
"This data indicates that both groups consider DOGE as a core asset within the memecoin space, with institutions favoring it due to its liquidity and stability. Moreover, both groups are actively investing in Ethereum-based memecoins like PEPE and SHIB."
Disclaimer: This information does not constitute investment advice.
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