And meme tokens are mostly shit!
Well, that's pretty much the findings of a new study by Chainplay. Now, I don't know how close they followed the principles of the scientific method, but their main finding was the following
A staggering 97% of memecoins have died by 2024
Honestly, I would expect that number to be closer to 99.9 % lol.
The sample size was quite big btw:
To gain a deeper understanding, we conducted a study on 30,000 memecoin projects
The coins included in the study came from the chains of Ethereum, Solana, and Base.
Some other key findings were:
- Average lifespan of a meme coin is about a year when three years is generally the standard industry for other "normal" crypto projects.
- More than half (55.24%) were found to be malicious
- 2020 mem token projects die every fucking month. Lol.
- Nearly 60 % of new investors consider meme tokens a must for their portfolio. Degenerates 😂
- Only 13.77% of news reports about memecoins are currently bullish. I expected that number to be higher honestly.
Anyways it was a fun read, check it out here is you want.
So yeah. Meme tokens are poop. 97 % poop to be exact 💩
