CDS Crypto News Meme Coin Frenzy: Institutional Investments in DOGE, SHIB, and PEPE Skyrocket Since January
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Meme Coin Frenzy: Institutional Investments in DOGE, SHIB, and PEPE Skyrocket Since January

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Meme Coin Frenzy: Institutional Investments in DOGE, SHIB, and PEPE Skyrocket Since January

Meme Coin Frenzy: DOGE, SHIB, and PEPE Dominate

Crypto News- Institutional allocations to meme coins have surged by more than 300% this year, reaching a peak of almost $300 million in April, as reported by crypto exchange Bybit. This influx highlights the growing interest from professional investors in the meme coin sector, according to a Wednesday report from Bybit. Among the top picks for these institutional investors are dogecoin (DOGE) and shiba inu (SHIB), primarily due to their substantial spot-market liquidity. It’s important to note that these holdings are tracked exclusively on Bybit and don’t account for other exchanges.

BONK: Solana’s Rising Meme Coin Attracts and Loses Institutional Interest

In addition to the well-known DOGE and SHIB, Solana’s meme token BONK has emerged as a favorite among the newer meme coins, drawing in over $75 million in institutional investments. However, by May, these holdings had nearly halved to $125 million as institutions took their profits.

During this period, stablecoin holdings decreased from $1.7 billion to $1.4 billion, while investments in bitcoin (BTC), ether (ETH), and meme coins saw an uptick.

DOGE Dominates Meme Coin Holdings: Institutions Show Greater Preference

As of May 1, DOGE held the largest share of meme coin holdings among both retail and institutional investors. Institutions, in particular, allocated a larger portion of their funds to DOGE, with 36% compared to retail investors’ 24.5%. Bybit commented, “This suggests that while both groups see DOGE as a staple asset within the meme coin space, institutions favor it more, likely due to its higher liquidity and relative stability.” Additionally, both groups showed interest in Ethereum-based meme coins like PEPE and SHIB, with retail users holding 20.95% and 14.61%, respectively, compared to institutions’ 22.23% and 10.39%.

In recent months, meme tokens from the Ethereum and Solana ecosystems have gained popularity as a way to bet on the growth of blockchain technology.

For the latest in crypto updates, keep tabs on Crypto Data Space.

Meme Coin Frenzy: Institutional Investments in DOGE, SHIB, and PEPE Skyrocket Since January

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