Token

A recent study by CoinWire has shed light on a troubling trend in the world of memecoins, revealing that 76% of Twitter influencers promote tokens that have lost nearly all their value.&nbsp; 
The <a href="https://coinwire.com/76-percent-twitter-influencers-promote-dead-memecoins-study/" target="_blank" rel="noreferrer noopener nofollow">research</a> analyzed the performance of over 1,500 memecoins endorsed by 377 influencers with large followings, uncovering that two-thirds of these tokens are essentially worthless. 
The findings are stark: 86% of influencer-promoted memecoins lost 90% of their value within just three months. In fact, after one month, 90% of these tokens saw an 80% drop. Investors are often misled by flashy promotions, only to face steep losses. 
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 Source: CoinWire
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What’s worse, the chances of achieving substantial gains are extremely rare. Only 1% of influencers ever promoted a memecoin that saw a 10x increase in value, and just 3% of the promoted tokens ever achieved such success. 
Interestingly, the study also found that influencers with larger followings tend to promote the worst-performing memecoins. Those with over 200K followers saw their promoted tokens bring significant losses, with 39% negative returns in just one week.&nbsp; 
In contrast, influencers with fewer than 50K followers had slightly better results, showing a 25% positive return after a week and a 141% increase after three months. 
While investors lose out, influencers benefit financially, earning an average of $399 per promotional tweet. With each tweet reaching thousands of views, their incentives to promote questionable tokens are clear, even if their audience ends up with substantial losses. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/11/20/gen-z-trader-rugs-quant-token-on-livestream-for-30k-profit/" target="_blank" rel="noreferrer noopener">Gen Z Trader Rugs $QUANT Token in Livestream For $30,000 Profit</a> 
</blockquote>

76% of Memecoins Promoted by Influencers Are Dead: Study

The Crypto Times

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