Chainplay experts said that 80% of crypto investors invested in presidentially approved memcoins TRUMP, CAR and LIBRA, and two-thirds of them lost money on it.
According to a survey of 1066 respondents conducted using the Prolific platform, the so-called «presidential» tokens were the first experience in the industry for 37% of investors. 21% of newcomers then refused to participate in the crypto market further.
Analysts noted that rather than driving long-term engagement, the TRUMP, CAR, and LIBRA memecoins have led to significant disappointment. High volatility and a lack of sustainable value have turned many off.
In particular, the TRUMP memcoin of US President Donald Trump, launched in January, brought losses to 52,4% of investors. The total amount of damage exceeded $3,6 billion.
Promoted by Argentine President Javier Miley token LIBRA reached a capitalization of $4,56 billion, but a couple of hours later it collapsed by 94%. The total losses of investors amounted to $292,4 million, but 75% of buyers suffered losses. This is the worst indicator of the three assets.
As for the Central African Republic’s CAR memcoin, its price fell 96% from its peak of $0,89 within 66 hours of its launch. A promotional video for the token appeared on the social media of Central African Republic President Faustin-Archange Touadera. XNUMX% of CAR investors suffered losses.
According to Chainplay experts, politically connected memetokens have shown the ability to attract new users to digital assets on a massive scale. Of course, they carry very high risks.