76% of Influencer-Promoted Memecoins Are Now Worthless

• 76% of influencers on X promoted memecoins that lost all value, while only 1% achieved a tenfold growth.
• Memecoin activity boosts the Solana network, with PNUT and WIF driving milestones and broader cryptocurrency trends.

A CoinWire research report has revealed a surprising tendency among crypto influencers on X, the site formerly known as Twitter. The results show that shockingly, 76% of influencers have aggressively pushed memecoins that have since lost their value completely, therefore costing investors large losses.

Only 1% of these pushed memecoins have been able to reach a 10x growth in value; hence, such results are quite rare.

Furthermore, during just one week of its public release, an astounding 80% of marketed memecoins had experienced 70% or more in price reductions. These figures show how unstable memecoin investment is, especially with relation to those promoted by influencers.

Source: CoinWire

The Risks and Realities Behind Memecoin Promotions 

Examining over 1,500 tokens pushed by 377 memecoin-focused influencers on the site, the analysis looked at retail investors who usually rely on social media advertisements to guide their decisions, and the outcomes present a depressing picture.

Although influencers might gain from more exposure and possible pay from their marketing activities, the research shows that these campaigns do not result in long-term success for the promoted tokens or their investors. Rather, they are usually followed by sharp value losses, which seriously disadvantages average investors.

This tendency emphasizes the need for proper attention and skepticism while assessing memecoin investments. Though memecoins have enormous potential for big profits, their speculative character makes them somewhat erratic and simple for manipulation.

The study reminds us too that the interests of influencers do not necessarily coincide with those of their followers. Many influencers make profit independent of the success of a token, thereby leaving investors to deal with unfavorable financial results.

Conversely, memecoins still affect more general trends in crypto. CNF previously reported that, mostly due to memecoin trading and the outstanding performance of platforms like Raydium and Jito, activity on the Solana network had reached record heights.

Memecoins like PNUT and WIF have been crucial in increasing Solana’s appeal and enabling rapid expansion with respect to transaction volume and income reaching benchmarks.