U.S. Crypto Investors Are Still Piling Into Memecoins Despite the Huge Risks: Kraken

A Kraken survey of nearly 800 US crypto holders in January 2025 found that 85% invested in memecoins, with 76% believing the potential rewards outweigh the risks. 44% of respondents think memecoins will improve the crypto market's credibility, and 42% expect them to outperform other cryptocurrencies in 2025. Fear of missing out, recommendations from friends and family, and the fun aspect of memecoins were cited as investment motivations. 29% of memecoin holders sought short-term gains, while 23% aimed for diversification. Slightly more women (86%) than men (84%) held memecoins. The report also mentions a recent memecoin rug pull incident involving the LIBRA token, which saw its market cap plummet 90% from $4.5 billion.