Report: As a carrier of social ideology, Memecoin may continue to grow and develop

ChainCatcher news, the research department of the Web3 consulting company Despread, Despread Research, has released a report on the evolution and future potential of the Meme coin market, analyzing the utility of Meme coins as speculative assets.

The team pointed out that the American asset management company VanEck has launched a Memecoin index fund that tracks the prices of six popular Memecoins, including DOGE, PEPE, and WIF. The report states that while the launch of the VanEck Memecoin index fund is unlikely to immediately attract institutional investment in Memecoins, the growth of community-driven Memecoins without any utility has drawn institutional interest, which is significant. The VanEck Memecoin index fund could serve as a catalyst for more institutional and retail investors to take an interest in Memecoins.

It noted that cryptocurrency fund companies are already looking to include Memecoins in their portfolios. The California-based cryptocurrency fund company Stratos launched the WIF liquidity fund last December, and as of the first quarter of 2024, the fund has achieved a return of 137%. According to Despread Research, as a vehicle of social ideology, Memecoins will continue to grow and evolve.