Meme coins drove 40% of US сrypto investments, survey reveals
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A recent survey by BTC Peers shows that 40% of young American investors aged between 18 and 40 dived into cryptocurrencies for viral meme coins.
The anonymized survey was taken among 2,531 US citizens, each completing a 55-question poll. This allowed users to share their enthusiasm for investing in crypto assets.
While 11% of the investors said their goal was to make long-term money, “the majority are in it for amusement and social belonging,” per BTC Peers. The bulk of meme coin investors, around 83%, belong to Millennials or Gen Z, the survey found.
Moreover, 65% of the surveyed users claimed that humor and jokes help them understand the complex concepts of the crypto industry easily. One participant added that meme coins help to “spark enough curiosity” to learn more about “intimidating stuff like decentralized networks.”
59% claimed that memes help them better understand new projects.
While 57% admitted to being affected by memes in making investments, 72% claimed that dogecoin (DOGE) is their favorite meme coin. 89% also prefer receiving daily news from social platforms rather than traditional media.
Memecoins have been consolidating in the red zone over the past week with a total market capitalization of roughly $16.4 billion — down by 0.64% in the past 24 hours.
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