23% of Gen Z is investing in memes like Dogecoin (only 9% in NFTs)
Nearly a quarter of young, new crypto investors are actively investing in meme-driven cryptocurrencies like Dogecoin, a survey by betting app Gamblers Pick found recently. Meme narratives have spruced up the crypto space massively in the past few months driven by the likes of Dogecoin (and celebs like Elon Musk continuously shilling such coins). The ‘meme’ sector, as CryptoSlate data shows, commands over 3.43% of the entire crypto market cap and is worth over $70 billion at press time. Choose memes, choose Dogecoin The study asked 872 people about their investment strategies to explore how different generations were investing across financial markets. Twenty-four percent of those respondents were ‘Gen Zers’ (born between late 1990-early 2010s), 27% were millennials (born between 1980-1995), 25% were Gen Xers (mid-1960s to early 80s), and 24% were baby boomers or older (post the world wars and 1960s). Overall, a quarter of respondents admitted to investing frequently and said that it was a relatively popular activity among them, as only 12% said they rarely did it. On a generational level, Gen Zers couldnt get enough of the practice, with over 28% said they were constantly investing. IMAGE: GAMBLERS PICK SURVEY. A staggering 55% of Gen Zers, as per the survey, said they were