Guess what? A recent poll by the crypto gurus over at Kraken exchange just dropped, and it’s all about what crypto fans in the U.S. are thinking. They chatted with 800 crypto holders, and a whopping 85% confessed they’ve dipped their toes into the wild world of memecoins. Interestingly, a solid 76% of these folks also feel like the rollercoaster ride of memecoin investing is worth it for the potential big wins.

And here’s a fun tidbit from Kraken’s survey: it seems like women are even more into the crypto craze! They found that 86% of female crypto holders have invested in memecoins, slightly edging out the 84% of male respondents who’ve done the same.

Turns out, the survey highlighted that the fear of missing out—or FOMO as everyone calls it—is a huge driver for jumping into these super volatile memecoins. But it’s not all just chasing trends! People also mentioned that memecoins are just plain fun, and getting tips from friends and family plays a role too. For those actually thinking about strategies, 20% are in it for quick profits, while 23% are looking to memecoins to spice up and diversify their crypto portfolios.

This new Kraken survey comes hot on the heels of another study they did just a few months prior, where they were trying to get a handle on crypto trends for 2025. That December report showed that a strong 73% of folks planned to reinvest in crypto this year. Plus, a significant chunk—52% to be exact—believes crypto is a smart play for the long haul, seeing it as a viable investment all the way into 2025 and beyond.

Adding to the positive vibes, 43% of those surveyed think crypto is a safer bet for economic security than traditional finance. And get this, 55% believe digital assets have real potential for everyday use in the real world. However, it’s not all sunshine and rainbows; 60% still think that crypto is mainly used by the “bad guys,” and 29% are still scratching their heads, unsure about where the whole crypto world is even going.

Could Memecoins Be the Top Crypto Performers?

— kAI (@Kaiwen0x) October 5, 2024

The Kraken survey also revealed that a solid 42% of respondents are betting on memecoins to beat out other cryptocurrencies this year. This feeling amongst U.S. crypto investors aligns perfectly with recent insights from crypto analyst Kai, known as Kaiwen0x on X (formerly Twitter). Kai also predicts that these fun, meme-inspired coins are poised to outshine the rest of the crypto market in 2025.

This analyst thinks the growing buzz around memecoins signals they’re becoming a serious investment choice for crypto holders across the country. Kai even dubbed this expected surge the “memecoin cycle,” suggesting these coins will be leading the charge in the anticipated bull run this year. He argues that, besides stablecoins and Bitcoin, memecoins are unique in having a “clear product-market fit” that can really drive a bull market.

Kai started off by pointing out how memecoins are different from your typical crypto projects, which usually focus on developing the underlying technology and product. Instead, these fun-themed tokens put all the emphasis right on the token itself. He explains that memecoin projects cleverly combine raising funds and building a community as core features. Ultimately, Kai believes these tokens get their value from the attention and hype they generate within communities, creating a market fueled by global speculation.

The analyst further emphasized just how well these coins performed last year. In fact, amongst the top 300 cryptocurrencies, 16 out of the 20 that outperformed Bitcoin were memecoins!

Adding fuel to Kai’s fire, a research report from DWF Labs also backs up this idea. They stated that memecoins actually outperformed every other type of digital asset. DWF Labs highlighted the massive 500% surge in memecoin value last year, with their combined market cap jumping by around $100 billion from January to the end of the year!

Trump Era Helping to Pump Up Memecoins?

It seems President Donald Trump’s crypto-friendly stance, promises of lighter crypto regulations, and even his family’s foray into launching memecoins are all adding gas to the memecoin hype train. Remember, the U.S. President launched the “Official TRUMP” memecoin, and the First Lady dropped the “MELANIA” coin just days before Trump’s inauguration. These launches definitely sparked a rally in the memecoin market, which was further boosted by a wave of applications for memecoin-based ETFs, featuring names like BONK and Dogecoin.

Going back to surveys, a January poll from NFT Evening showed that the TRUMP and MELANIA tokens were actually bringing in newbies to the crypto and memecoin world. The survey pointed out that around 1 in 7 Americans bought the TRUMP token, and get this—42% of those buyers said it was their very first crypto investment!

However, not everyone’s thrilled about the memecoin mania. Former CFTC chair Christopher Giancarlo still believes that this memecoin explosion has had a negative impact on the broader crypto markets. Giancarlo’s concerns echo those from the NFT Evening survey, which found that a hefty 70% of U.S. crypto investors see the memecoin craze as a bad development for the crypto space. The former CFTC chair even suggests that the SEC’s crackdown on altcoins might have inadvertently paved the way for the memecoin surge.

Source: cryptopolitan.com