A new Chainplay report notes the average lifespan of a memecoin is just one year, with over 97% of them no longer in existence, and the sector is ranked higher in value than decentralized finance and blockchain services by over 440% growth in meme-related projects in two years.
The 'death rate' of memecoins is high, with two-thirds already out of business on some blockchains like Base, and over half of memecoins are considered malicious, leading to investors reporting significant losses due to scam tokens.
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