Americans Prefer Memecoins With Extensive Media Coverage

One in seven Americans, or 14% of the population, have acquired Donald Trump's memecoin, $TRUMP, since its launch on Jan. 18, according to a study.

A recent study has revealed that 14% of Americans have acquired Donald Trump's memecoin, $TRUMP, since its launch on January 17th. This surprising statistic highlights the widespread interest in memecoins, especially those endorsed by prominent figures.

According to the study, Americans showed a strong preference for memecoins that received extensive media coverage. The survey, conducted by NFT Evening and Storible, included 1,092 Americans and aimed to gauge their interest in Trump's and Melania Trump's memecoins.

The results indicated that far more Americans purchased $TRUMP than $MELANIA, with the ratio standing at three to one. This disparity could be attributed to the varying levels of media attention each memecoin received.

The study also delved into the demographics of $TRUMP and $MELANIA buyers, offering insights into the types of investors attracted to these memecoins.

“Furthermore, 42% of those who bought either TRUMP or MELANIA are first-time crypto buyers. This might indicate that these coins are serving as an entry point for many newcomers to the world of cryptocurrency, thanks to their political endorsements and perceived novelty.”

notably, a separate survey conducted on Inauguration Day revealed that the majority of buyers for both Melania Trump's and Donald Trump's memecoins were in profit. Around 86% of $MELANIA buyers were reported to be in the green, compared to 81% for $TRUMP buyers.

These findings align with the performance of each memecoin hours before Trump's inauguration, as reported by Bitcoin.com News at the time. The first lady's memecoin had outperformed her husband's, which was down over 17% at the time.

However, the launch of the two memecoins has sparked controversy, with some critics accusing Trump of using his position to benefit his family and others labeling memecoins as scams.

According to the study, more than half (55%) of respondents believed that Trump and his wife were using their influence to manipulate the crypto market. Furthermore, nearly 75% expressed concerns that the launch of the $TRUMP memecoin would harm the crypto market.

“Among this group, 98% have refrained from purchasing $TRUMP, signaling a clear divide between those participating in the trend and those wary of its potential risks,” the report concluded.