While Memecoins have always been in the focus of investors due to their speculative nature, a new report regarding Memecoins has come from the leading cryptocurrency exchange Bybit.
According to the ByBit report, institutional investors have invested hundreds of millions of dollars in memecoins this year, while institutional investment in memecoins has increased by more than 300% in 2024.
According to Bybit's data, corporate investments reached their peak in April with 300 million dollars.
Institutional investors invested in memecoins that had superior and solid market capitalization compared to new memecoins.
According to the ByBit report, institutions specifically purchased Dogecoin (DOGE) and Shiba Inu (SHIB), while BONK attracted more attention among the new memecoins, with institutions purchasing $75 million worth of tokens.
According to data, institutional investors account for 36% of their portfolios; Individual investors allocated 24.5% to DOGE.
The report stated that institutional and individual investors also purchased PEPE and SHIB, while individual investors' portfolios included PEPE and SHIB by 20.95% and 14.61%, respectively; It was stated that corporates allocated 22.23% and 10.39%.
Stating that these data reveal that memecoins are attracting interest from institutional investors, ByBit analysts wrote:
“This data shows that while both groups view DOGE as a core asset in the memecoin space, institutions favor it more, perhaps due to its higher liquidity and relative stability.
Both groups (individual and institutional investors) are buying Ethereum-based memecoins (PEPE) and (SHIB). “Retail investors hold PEPE and SHIB at 20.95% and 14.61% in their portfolios, respectively, while institutional investors hold 22.23% and 10.39% of PEPE and SHIB.”
*This is not investment advice.
