Fueled By Election Buzz, Memecoins Soar 22% On Pure Speculation—Report

Quick Summary:

Binance Research: 75% Of All Memecoins Were Launched Last Year According to a November 2024 Binance research, meme currencies are growing in popularity because people are now looking at risk-on investments.

Related Reading: Why One Analyst Says Now’s The Time To Buy XRP—Before It Hits $14 Memecoins Jump by 22% In A Day, Thanks To Election Hype While these coins are considered community-driven and accessible investments, they’re also highly speculative.

Related Reading: Solana Rockets Past BNB To Claim Coveted 4th Spot In Crypto Ranks Although memecoins promise a strong upside, they are also a high-risk investment since they’re highly speculative and have few use cases.

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Article Details

Author / Journalist: Christian Encila

Category: Crypto

Markets: United KingdomCanadaSouth KoreaPhilippines

Topics: Cryptocurrency Market News US Elections Memecoins Altcoins Bitcoin Crypto

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-07 @ 19:00:17 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 375 words

Reading Time: 3 minutes read

Sentences: 71 lines

Sentence Length: 6 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 23464755

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