- The survey further mentions that around a quarter of Russians believe that introducing a memecoin is a constructive marketing move.
- The Executive Director of Vyberu, Yaroslav Badzhurak said that meme-themed coins are now estimated for a notable share of the crypto market capitalization.
- The majority of the respondents said that they had purchased memecoins as they thought the tokens had good growth potential.
A survey has revealed that over one in five Russians trade or hold memecoins, as the popularity of these tokens has increased significantly. A media outlet, Gazeta(dot)ru has reported that the survey included 3,000 Russians between the ages of 18 to 60.
The survey was conducted by the financial services provider Vyberu. The survey revealed that 21% of respondents said they either hold memecoins at the current time or have traded them in the past.
The report also mentions that 15% of the respondents said that they had purchased memecoins, mainly driven by the hype surrounding them. Also, around 4% of the respondents stated that they had bought memecoins to make a swifter profit.
Growth potential captivates investors
At the same time, 2% of the respondents said they invest these coins to back project creators. The majority said that they had purchased memecoins as they thought the tokens had good growth potential.
However, 23% of token purchasers said they were captivated by the coins due to their cultural or satirical aspects. Around 6% of them thought that the striking communities and fan bases of the memecoins had captivated them towards memecoins.
The survey further mentions that around a quarter of Russians believe that introducing a memecoin is a constructive marketing move. Less than half also believe that memecoins were a temporary phenomenon and mostly a social media trend.
At the same time, a quarter of respondents said that in their belief this type of coin would help bring more new investors to the crypto market, and 5% said memecoins have an adverse effect on the reputation of the crypto market.
What does the Executive Director say?
The Executive Director of Vyberu, Yaroslav Badzhurak said that meme-themed coins are now estimated for a notable share of the crypto market capitalization. And this, he said, is now diligently influencing market dynamics.
At the same time, Badzhurak warned that significant price jumps as well as volatility can lead to more risks for market stability. As per him, the fame of memecoins results in the redistribution of capital from more stable assets. It boosts the load on a blockchain network, boosting fees in the process.
At the beginning of this month, the security provider of Russia, FACCT gave a meme coin warning. It mentioned that $TRUMP and $MELANIA memecoin holders should be cautious of scammers who have made more than a dozen phishing sites that aim for their crypto wallets.
