Meme Coins Still Attract Investors: Here's Why

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Nabilah Muhamad 18/10/2023 19:14 WIB

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According to Chainplay research, 63.9% of investor respondents remained active in buying meme coins in 2023. The majority purchased these cryptocurrencies for enjoyment.

Factors Driving Investor Interest in Meme Coins (2023)

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Factors Driving Investor Interest in Meme Coins (2023)

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Meme coins are cryptocurrencies inspired by memes, jokes, or viral internet images. Unlike other crypto assets, meme coins do not have a specific function or clear purpose.

Despite this, a number of investors are still interested in buying meme coins. This phenomenon is recorded in Chainplay's report titled *State of Meme Coin 2023*.

According to the Chainplay survey, 63.9% of respondents from among investors worldwide admitted to actively buying meme coins.

Of this group, the main reason respondents invested in meme coins was for pleasure, stated by 69% of respondents.

"Besides profit, the majority of crypto investors put their money into meme coins because of the feeling of enjoyment," wrote Chainplay in its report.

Then, 64% of respondent meme coin investors bought these assets because they saw high profit potential, and 61% bought out of curiosity.

This Chainplay survey involved 1,503 crypto investors spread across the globe. Chainplay did not specify when the survey was conducted, but the report was published in the 2023 edition.

(Read also: Indonesia Ranked 6th Largest Holder of Cryptocurrencies in the World)

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Meme Coins Still Attract Investors: Here's Why

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Meme Coins Still Attract Investors: Here's Why

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