Institutional Investors Show 300% Increase in Interest in Memecoins! Discover the Top 4 Altcoins for Their Portfolios!
A recent report from the prominent cryptocurrency exchange ByBit sheds light on the growing interest of institutional investors in memecoins. While memecoins have always been a popular choice for investors due to their speculative nature, institutional investment in these digital assets has surged by over 300% in 2024.
ByBit’s data reveals that institutional investors have poured hundreds of millions of dollars into memecoins this year, with corporate investments peaking at $300 million in April. These institutions have shown a preference for memecoins with established market capitalization, favoring assets like Dogecoin (DOGE), Shiba Inu (SHIB), PEPE, and BONK.
Among the new memecoins, BONK has garnered significant attention from institutional investors, with $75 million worth of tokens purchased. The data also indicates that institutional investors allocate 36% of their portfolios to memecoins, with DOGE being the top choice at 24.5%.
Individual investors, on the other hand, have included PEPE and SHIB in their portfolios at 20.95% and 14.61%, respectively. The report highlights the growing interest of both institutional and individual investors in Ethereum-based memecoins like PEPE and SHIB.
ByBit analysts point out that while both groups consider DOGE a core asset in the memecoin space, institutions tend to favor it more due to its liquidity and stability. The report concludes that memecoins are becoming increasingly attractive to institutional investors, signaling a shift in the market dynamics.
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