Institutional Holdings Surge in Meme Coins

Thursday, 6 June 2024, 11:29
Institutional investors have significantly increased allocations to meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe Cash (PEPE) on crypto exchange Bybit. According to the latest report, investments in these meme coins rose to $300 million in April from $63 million recorded at the beginning of the year. This surge in institutional holdings reflects a growing interest in meme coins among larger investors.
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Institutional Holdings Surge in Meme Coins

Institutional Holdings Surge in Meme Coins

Institutional investors on crypto exchange Bybit have increased allocations to meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe Cash (PEPE) according to a recent report. At the beginning of the year, these meme coin investments were at $63 million, rising to a high of $300 million in April. This trend highlights the escalating interest of institutional investors in meme coins and their potential for substantial returns.

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