The post A Shocking Number of Meme Coins Have Failed in 2024: Study appeared on BitcoinEthereumNews.com.

New research by Chainplay highlights a staggering 97% failure rate for meme coin projects since 2024. The data shows that meme coins have an average lifespan of just one year, while typical crypto projects last about three years. The Mortality Rate of Meme Coin Projects According to AlphaQuest, a crypto research tool, an average of 2,020 meme coin projects die each month. State of Memecoin 2024: High Risk, High Reward Memecoins: A rollercoaster of fortunes or a financial minefield? Our latest study of 30,000 projects unveils the shocking realities behind the hype. Key findings:⚰️97% of memecoins have died since 2024⏳Average lifespan:… pic.twitter.com/rOvHreXq8X — ChainPlay.GG (@Chainplaygg) August 6, 2024 The research also highlights the varying mortality rates of meme coins across different blockchain platforms. Base leads with a death rate of 66.91%, followed by Solana at 54.03% and Ethereum at 36.59%. In addition to their high failure rates, meme coins are often linked to malicious activities, with over half (55.24%) classified as such. Despite these risks, these cryptocurrencies remain appealing to investors, especially those seeking quick gains. The research indicates that nearly 60% of investors in this asset class view them as short-term investments. The study also shows that these coins have become a significant part of many crypto portfolios, with two-thirds of crypto investors having invested in them at some point. Investor and Media Outlook The perception of meme coins varies significantly among investors based on their experience. While 54% of all meme coin investors do not view these assets as essential to their portfolios, nearly 58% of new investors—those active for less than six months—consider them crucial. In contrast, only a third of investors with over a year of experience regard them as must-have assets, suggesting that increased expertise leads to greater caution. The media’s perspective reflects similar caution.…

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Filed under: News - @ August 18, 2024 9:27 pm