Investing in meme coins a form of gaming, says study

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Investing in meme coins a form of gaming, says study

A new study has found that investing in meme coins or crypto assets created from internet memes or having funny qualities is a form of gaming. Despite a range of arguments from some investors who believe otherwise, it is a significant improvement to the stock market.

Crypto investors have been paying more attention to meme coins over the last few years, as most of them view it as a profitable investment choice, with some believing it is a good quick-profit opportunity.

Elon Musk, a billionaire in tech, is a vocal supporter for Dogecoin, the world's first meme coin created as a joke to Bitcoin and launched in 2013 as proof of his support for the meme coin.

If Tesla's richest man, Elon Musk, invests in Dogecoin, what prevents other investors from imitating him?

ChainPlay, a platform developed to help crypto gamers gain information from various areas of the GameFi market, has revealed unexpected details about meme coins and how they are perceived by investors.

Lohar Herbert, Chainplay research head, told IBT.

Herbert said that he was not aware of the dangers of the CIA's retaliatory tactics.

The study found investors were not careful enough to conduct due diligence before buying crypto assets.

The top three factors investors looked at the most are meme popularity, social media act and community act.

The study revealed that 70% of investors believe that the majority of meme coins are scams. A total of 35% of those asked for the study believed meme coins to be safe investments. While the majority of people believe meme coin investing is a scam, they do not mean it in the real sense of the word.

They can also be driven by people's FOMO.

Although only 48% of the surveyed believe meme coins as long-term investments, 64% of them are convinced that their investment has a high potential for profit, while 61% are investing just out of curiosity.

ChainPlay also speculated that the explosion of the cryptocurrency industry, the growing popularity of crypto among younger generations,' more practical use cases of practical real-world applications, and's DOGE Killer Leash, Milady, Lovely Inu and Dogechain occupied the sixth to tenth spots on the list.