Mem coins are another rocket engine in cryptocurrency adoption

In the opinion of an analyst from the DappRadar portal, digital currencies created for fun play an important role in the adoption of cryptocurrencies into the mainstream.

Sara Gherghelas, Senior Blockchain Research Analyst at DappRadar, investigated how the lower “psychological” barrier to entry into the cryptocurrency sector associated with a range of so-called mem coins could lead to increased adoption of this emerging asset class. Although these types of digital currencies have experienced many volatile cycles in the past, the expert points out that the current trend is different in many ways, primarily because it has been going on for a much longer time than it was before.

Mem coins are another rocket fuel in cryptocurrency adoption

The DappRadar platform expert, and at the same time a woman known in the circles of cryptocurrency enthusiasts, who conducts diverse rankings of cryptocurrency assets and provides information on on-chain data, recently recognized that digital currencies created for fun have started to play an important role in the cryptocurrency ecosystem. She shared her latest insights in one of her recently recorded podcasts.

In the latest assessment by Sara Gherghelas, the function of meme coins in the future may be much more than just creating hype and good humor among the digital currency community in social media. This woman drew attention to the fact that this type of cryptocurrency may in the near future be a very important part of markets such as ICOs or NFTs.

According to the enthusiast of the digital currency sector mentioned above, the most popular mem coins, which include Shiba Inu (SHIB) or Floki Inu (FLOKI) "definitely are not some kind of zero-sum game for the cryptocurrency space." All this is due to the fact that these digital assets provide value in the form of a decentralized network, and additionally they also participate in the rapid development of the metaverse ecosystem. What's more, broadly understood retail investors, who most often reach for this type of cryptocurrency in the first place, may stay on the market for a longer period of time, discovering other innovative projects.

Cryptocurrencies created for fun have entered the mainstream of digital currencies

In her study, Sara Gherghelas additionally noted that during the period when mem coins enjoyed a clearly growing interest from many investors this year, other spaces of the cryptocurrency sector met with an unquestionable decrease in activity - this situation hit, among others, games based on blockchain technology or projects related to functioning in the area of NFT.