Kraken Survey: U.S. Crypto Investors Remain Drawn to Memecoins Despite Risks
A new report from crypto exchange Kraken highlights the enduring appeal of memecoins among U.S. investors, despite their well-known volatility and risks.
According to the survey released Wednesday, 85% of digital asset holders in the U.S. said they had invested in memecoins, with 76% believing that “the potential rewards justify the risks.”
Interestingly, 44% of respondents said they think memecoins could enhance the credibility of the crypto market, while 42% expected these tokens to outperform other cryptocurrencies in 2025.
FOMO (fear of missing out) was among the top motivations for investing in memecoins, alongside recommendations from friends and family and the lighthearted, community-driven nature of these tokens.
Despite their growing popularity, memecoins have recently come under scrutiny. The LIBRA token, linked to the Argentinian government, surged to a $4.5 billion market cap before crashing by 90% in what appeared to be a rug pull, further fueling concerns about the risks involved.
Kraken’s research also revealed that 29% of memecoin investors were primarily focused on short-term profits, while 23% viewed them as a means of diversifying their crypto portfolios.
A slight gender divide was also noted, with 86% of female crypto holders reporting investments in memecoins, compared to 84% of male investors.
The survey was conducted on Jan. 9, 2025, with nearly 800 U.S.-based crypto investors participating.
