News View Non-AMP

Here’s Why Meme Coins Remain a Top Investor Choice Despite High Risk

Published by
Anjali Belgaumkar

In a recent interview with Coindesk, Switchboard co-founder Chris Hermida shared his thoughts on what influenced the cryptocurrency markets over the weekend and leading up to Monday morning. He started by expressing a general tendency to discount weekend market movements. Chris said that recent sell-offs were driven by news related to Mt. Gox and actions by the German government, resulting in a general decline in market sentiment. 

When asked about the ongoing impact of Mt. Gox news, Chris noted that the situation has been known for a long time, with people buying claims to Mt. Gox as far back as 2017. The main question now is how many of these claim holders will choose to sell their assets.

Chris explained that not all claim holders are likely to liquidate their holdings immediately. While some selling is expected, he doesn’t foresee a massive sell-off involving 50% or more of the claim holders. The current selling pressure is compounded by the German government’s liquidation activities and the prevailing negative sentiment in the crypto market.

Why Are Investors Attracted To Meme Coins?

He added that many people find meme coins easy to understand and fun. Compared to others, it’s an interesting one for a broad audience within the market.

“I mean, I think a lot of it is that they’re easy to understand and fun for many people. Compared to other narratives, it’s an appealing one for a broad audience within the ecosystem—not just speculators and builders, but also those who might not have been exposed to crypto before. It gives them a way to participate and find enjoyment in it,” he said.

Regarding sustainability, he expressed uncertainty, but acknowledged that meme coins do attract a new crowd to crypto. The hope is that they come for the memes and stay for all the other benefits.

Read Also: Bonk & Pepe Price Initiates a Massive Upswing; Will They Rise by Another 20% to Enter the Bullish Pattern?

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

Recent Posts

Should You Be Bullish on POL (Prev. MATIC) Price? Will It Ever Reach $1?

The crypto market is witnessing some cautious declines today, with the total market capitalization dropping…

April 24, 2025

CME Group to Launch XRP Futures in May; Here’s What to Expect from the XRP Price Rally

Compared to the other cryptos, XRP has been displaying enormous strength as the bulls have…

April 24, 2025

CME Group to Launch XRP Futures on May 19

CME Group has announced plans to launch XRP futures on May 19, pending regulatory approval.…

April 24, 2025

Coinbase Joins Forces with PayPal to Boost PYUSD Adoption

Coinbase has expanded its partnership with PayPal to help drive adoption of the PayPal USD…

April 24, 2025

Ethereum’s 2025 Crash Wipes Out All 2024 Gains: What Happened?

The crypto market took a hit in early 2025 in contrast to the late 2024…

April 24, 2025

Ripple XRP Price Prediction 2025, 2026-2030: Will XRP Reach $5?

Story Highlights The XRP Price LIVE: . The price could hit a high of $3.99…

April 24, 2025