Original: ChainPlay "State of Meme Coin", translated by Odaily Jessica.

Is MemeCoin still worth investing in? While many of these tokens have the advantage of being fun and trendy, and are heavily promoted, making them a potential high-profit asset, some MemeCoins may turn out to be money traps. But which scenario is more likely?

To answer this question, we conducted a survey of 1,503 cryptocurrency investors worldwide, with the primary objective of assessing the market potential of these tokens. The survey includes investment sentiment, investment amounts, and investor profile disclosure, and the main findings are as follows:

Investment Sentiment

63.9% of investors will purchase MemeCoins, while 36.1% will not, indicating different sentiments towards these assets.

1. Only 30% of cryptocurrency investors believe that MemeCoin is a safe investment. Most people consider these coins to be scams, but not in the literal sense. Their viewpoint is more inclined towards the unpredictability of the value of these coins. 70% of the surveyed investors believe that MemeCoin will initially generate significant profits but will later decrease in value, or even completely collapse. In fact, 53% of people believe that they can profit from MemeCoin before the price crashes;

2. Many cryptocurrency capitalists also consider investing in Memecoin to be like gambling. However, this is mainly because there is not enough due diligence before the transaction. Research shows that 51% of Memecoin investors only did less than 60 minutes of research before investing. Such high-risk investments require more thorough research, but 55% of investors who do little research before investing say they rely entirely on luck when making financial decisions. This explains why investing in Memecoin feels like casual gambling;

3.69% of investors say they invest in Memecoin for fun;

4.48% of global investors who buy Memecoin for fun consider it a long-term investment. Therefore, these investors spend the most funds on these interesting tokens. However, in general, due to the potential for long-term returns, 79% of investors consider Memecoin as a long-term investment. These investors acknowledge that once the hype around the token subsides, the value of the token may fluctuate. However, they believe that over time, these assets will achieve more stable prices and even have the potential for long-term returns;

5. When Memecoin investors research before buying assets, they focus on popularity (41%), social media activity (38%), and community activity (24%);

6. Concerns about Memecoin include scams or rugpulls (64%), high volatility and risk (58%), and legality (38%);

7. Investors have high doubts about the future of Memecoin. As many as 55.13% of surveyed investors are uncertain about the future of these tokens. This uncertainty mainly comes from the following factors:

Investor Profile of Meme Coin

A survey shows that only one-fifth of global investors enter the cryptocurrency market because of Memecoin. This means that Memecoin is not the sole driving force behind the adoption of cryptocurrencies as a whole; users who have invested in Memecoin for less than a year account for 32%.

Investment Allocation: Due to the volatility and unpredictability of Meme coins, only 8% of investors allocate more than 25% of their cryptocurrency investment portfolios to these coins, demonstrating a cautious risk preference and preference for diversification.

Investment Research: 51% of investors conducted research for less than 60 minutes before investing.

Will Memecoin Prosper or Collapse in the Future?

The future of Memecoin is uncertain, mainly due to its undefined practical use cases. 32% of investors believe that Memecoin can have some practical use cases, but their impact is limited. Another 30% of investors believe that Memecoin has no practical use cases and will eventually disappear. However, only 28% of people hold a critical attitude, believing that Memecoin lacks intrinsic value and is susceptible to market manipulation and fraud.

The key drivers of MemeCoin growth in 2023: Adoption and application of AI; more practical use cases or real-world applications; increasing popularity among the younger generation; overall rise in the cryptocurrency market.

There is skepticism about AI-generated Memecoin and its future potential.