According to a study by Coinwire, 2 out of every 3 memecoins promoted by 76 percent of crypto influencers have been repackaged.
The Memecoin Supercycle caused a huge stir on social media platforms. It has been noted that many memecoins have achieved high gains, especially on X. New investors in the crypto industry started making risky transactions thinking that memecoins bring big money.
Coinwire produced a report on memecoins. In the report in question, it was reported that most of the memecoins that were promoted by influencers as “instant investment opportunities” were rebranded. According to the report, the majority of investors who invested in memecoins promoted by influencers suffered significant losses.
The study analyzed the performance of more than 1,500 memecoins introduced by 377 influencers.
Memecoin was a losing investor in the market.
According to Coinwire research findings, 86 percent of memecoins that were introduced by crypto influencers lost 90 percent of their value within 3 months. Only 1% of influencers introduced memecoins which increased in value by 10x.
Memecoins, which were introduced by crypto influencers, lost almost 70% of their value after just one week. The memecoins in question were gradually removed from the market.
The report included the following statements.
“It’s almost impossible to get 10x profit from memecoins promoted by crypto influencers”
According to the report, as an influencer’s follower count increases, their chances of reposting increase.
Noting that crypto influencers with more than 200,000 followers fared the worst, the report said 89 percent of memecoins introduced by these influencers were reset.
Coinwire claimed that crypto influencers are profiting from promoting memecoins. The report included the following statements:
“While investors often suffer losses, crypto influencers benefit financially from promoting memecoins. On average, an influencer earns $399 per promotional tweet, and about 15,000 per tweet. The views match.
Coinwire said investors should be wary of memecoins promoted by crypto influencers.
This article does not contain investment advice or recommendations. Every investment and trading venture involves risk, and readers should do their own research when making decisions.
