Don’t Get Fooled By The Success Of Dogecoin, Shiba Inu: 76% Of X (Twitter) Influencers Promote Dead Meme Coins, Study Reveals
Posted On November 25, 2024
A new report has revealed a startling trend in the cryptocurrency market: 76% of influencers on X (formerly Twitter( promoting meme coins are endorsing tokens that eventually lose nearly all their value.
What Happened: The study, by CoinWire, analyzed 1,567 meme coins promoted by 377 influencers, uncovering that two out of three tokens they promoted are now classified as “dead.”
The report’s findings are particularly concerning for retail investors drawn to the hype surrounding popular meme coins like Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB).
While established tokens such as DOGE and SHIB have maintained significant market presence and liquidity, many of the promoted meme coins …
About The Author
