76% Of Crypto Influencers On X Guilty Of Promoting Memecoins Gone Bust
A recent report showed the troubling reality of the relationship between memecoins and social media influencers on X (formerly Twitter), revealing a high failure rate.
The study conducted by Coinwire found that two-thirds of cryptocurrency influencers on X have promoted memecoins that are now worthless.
Small Fraction Got A 10X Increase
Recent research discovered that only a small percentage of memecoin promotions attained exponential growth, saying that 1% of these promotions increased the value of the token tenfold. It is a dismal rate considering the hype being created by X influencers on such promotions.
Coinwire said that the now-defunct memecoins have been promoted by more than 76% of X influencers. An analyst noted that…
