The survival crisis of 75% memecoins despite 22% rise
Release: 2024/11/07 07:14 Reading: 609
The Rise and Potential Risks of Memecoins
Market Dynamics
The surge in popularity of memecoins has been fueled by increased money supply, as well as a heightened appetite for high-risk assets among investors. Since 2022, the value of memecoins has tripled relative to altcoins.
Influencer Funding
Factors such as the decline in ICOs have led new crypto projects to rely on private venture capital (VC) funding. This "Low Float, High FDV" approach can create the risk of early VC investors cashing out, leaving regular traders vulnerable. Consequently, some traders have turned to memecoins.
Accessibility and Transparency
Memecoins are often seen as accessible and transparent, thanks to their community-driven nature and transparent token supplies. However, Leonidas, an influencer, argues that the "Memecoin Industrial Complex" favors insiders with large token allocations. This may leave regular traders at a disadvantage.
Market Speculation
Despite their perceived accessibility, memecoins are highly speculative. The community has bet on a potential meme supercycle, spurred by Bitcoin's all-time high. The recent victory of Donald Trump in the US election has led to a significant surge in memecoin valuations, with a 22% increase observed in the past 24 hours.
Survival and Risks
Over 75% of memecoins have been created within the last year. However, their survival rate has been low, with approximately 97% failing to gain traction. While memecoins offer high-return potential, they also carry significant risks. Investors should proceed with caution, recognizing that their appeal may not be sustainable in the long term. src="/uploads/20241107/1730937602672c0302097cf.png">
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