97% of memecoins failed or inactive shortly after launch: Binance Research

A recent Binance Research report covered by CryptoSlate finds that 97% of memecoins fail or become inactive soon after their launch, underlining the prevalence of pump-and-dump schemes, which primarily harm ordinary investors. The report links the rise in memecoin popularity to economic hardships, particularly among young people dealing with stagnant wages and increased living costs. It points out that most memecoins lack real value or innovation, thriving instead on online buzz and market speculation. The study notes that this trend shifts focus away from more meaningful blockchain advancements.