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Exclusive: 36.8% of investors now have memecoin investments!

  • Q1 and Q2 performance dictates why investors are allocating more to memecoins – Survey
  • PEPE, WIF and BONK prices could reach new highs, but respondents expect BTC to do the same

After surveying 557 people from different regions around the world, AMBCrypto’s exclusive survey found that 53.7% of traders, investors and analysts would choose memecoins over Bitcoin (BTC). And yet, a significant number of people believe that Bitcoin will reach the $100,000 level before the end of 2024. The result of this study, however, might not surprise active market participants, and the reasons are obvious.

Are memecoins the hedge of this cycle?

First, the price of Bitcoin increased by 53.32% on a year-over-year basis (YTD). However, this is nothing compared to the performance of memecoins, especially those based on the Solana (SOL) blockchain.

For example, the value of dogwifhat (WIF) has surged 1,768% this year, while Bonk (BONK) is up 123%. Another notable memecoin is PEPE. Despite Ethereum’s (ETH) lagging behavior, this memecoin saw gains of 945%.

However, the interviewees did not say this out of desire. Instead, AMBCrypto’s investigation found that they put their money where their mouth is. Specifically, 36.8% of all respondents allocated part of their portfolio to memecoins.

Another 25.5% did so for AI-themed tokens, with the DeFi and GameFi sectors finding a place among the holdings of 25.5% and 15.4% of overall respondents. This, despite the start of the second quarter (Q1) of the year at a slower pace compared to the first quarter.

At the start of the second quarter, memecoins lost a good portion of their gains from the first quarter. However, the resurgence of GameStop (GME) stock has put prices back on an uptrend. This is one of the reasons why PEPE seemed to surpass its all-time high almost every week.

Data Shows How GME Triggered PEPE Memecoin to All-Time High

Source: TradingView

Bitcoin is still in the conversation

Regardless of the bullish conviction around memecoins, 65.5% of respondents owned Bitcoin – a sign that the coin remains a significant bet, despite the buzz of the narrative.

Furthermore, AMBCrypto’s report also revealed that most believe BTC could rise by 80% by December 2024. If this happens, then Bitcoin price could be worth $121,953 by the end of the year.

But where does that leave memecoins? Beyond the report, AMBCrypto looked at the number of holders and sentiment around some of these frog and dog themed tokens.

According to Santiment data, the number of PEPE holders in February was less than 160,000. At press time, this number had increased to 238,000.

On-chain data shows increase in PEPE memecoin holders

Source: Santiment

A nearly 50% surge in less than three months could be proof that the memecoin supercycle may not be stopping anytime soon. If this were the case, other altcoins with real utility could run out of liquidity.

Finally, AMBCrypto’s report found that the emergence of SocialFi was a topic to watch. For example, platforms like Friend.tech and Fantasy.Top have accumulated millions of dollars in trading volume.


Realistic or not, here is the market capitalization of PEPE in BTC terms


Despite the notable increase in monetary flows, memecoins could continue to attract more market participants than any other sector of the market. Nonetheless, this does not imply that ETH will continue to lag or that BTC will fail to reach $100,000.

News Source : ambcrypto.com
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Sara Adm

Aimant les mots, Sara Smith a commencé à écrire dès son plus jeune âge. En tant qu'éditeur en chef de son journal scolaire, il met en valeur ses compétences en racontant des récits impactants. Smith a ensuite étudié le journalisme à l'université Columbia, où il est diplômé en tête de sa classe. Après avoir étudié au New York Times, Sara décroche un poste de journaliste de nouvelles. Depuis dix ans, il a couvert des événements majeurs tels que les élections présidentielles et les catastrophes naturelles. Il a été acclamé pour sa capacité à créer des récits captivants qui capturent l'expérience humaine.
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