Tallinn, Estonia, July 1, 2024 (GLOBE NEWSWIRE) — Memecoins have soared in popularity compared to DeFi tokens. AMBCrypto’s exclusive survey, in its June Cryptocurrency Market Report, reveals a major trend among memecoin investors. Thus, it highlights a major shift towards high-risk, high-reward strategies in the cryptocurrency market.
Popular strategy: 53% of memecoin investors adopt a “scattering” approach, placing small bets on a pool of memecoin with the goal of making big returns. Short-term holdings: Around 35% of investors hold their investments for just a few weeks, aiming to capitalize on quick gains, while 9% sell immediately when the price rises, demonstrating the diversity of approaches to memecoin trading. Community influence: 47% of investors highlight the social aspect of cryptocurrency trading, believing that a strong community and sustained publicity are crucial to memecoin’s success. This signals a shift towards value driven by collective belief and social validation rather than traditional financial metrics.
The report goes into more detail on the monthly review of the cryptocurrency sector, along with a comprehensive discussion of Bitcoin, Ethereum, and Cardano. You can access the report here.
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