Survey reveals memecoins outnumber Bitcoin with 16% ownership

A recent Binance survey reveals that more cryptocurrency holders own memecoins than Bitcoin (CRYPTO:BTC).

According to the Binance Global User Survey, released on December 18, 16% of respondents reported holding memecoins, making them the most commonly held cryptocurrency among those surveyed.

Bitcoin was the second most held cryptocurrency, with 14.4% of participants indicating they owned it.

The survey, which included over 27,000 participants from regions such as Asia, Australia, Europe, Africa, and Latin America, highlights the growing popularity of memecoins among cryptocurrency holders.

Despite the higher number of memecoin holders, Bitcoin still maintains a much larger market capitalisation.

As of now, Dogecoin (CRYPTO:DOGE) is trading at $0.362, and the memecoin market has a total market cap of around $117 billion.

Bitcoin, on the other hand, has a market cap exceeding $2 trillion, with the cryptocurrency recently reaching a new all-time high of $108,000 on December 17, trading at around $101,000 at present.

Survey respondents expressed a generally positive outlook on the future of memecoins.

About 19% of those polled expect the memecoin market to grow in 2025, making it the second most anticipated growth area after AI tokens, which 23% of respondents believe will drive market expansion in the coming year.

Google search data reflects an increase in interest in memecoins, with search volume for the term “memecoin” peaking at 100 on December 5 before declining to 66 by December 19.

Bitcoin searches showed a similar trend, with a peak of 100 on December 5 and a drop to 50.

While memecoins remain speculative in nature, some experts continue to discuss the possibility of a memecoin supercycle.

However, the rise of these assets could follow patterns similar to those seen in past markets, such as ICOs and NFTs, which experienced rapid growth followed by declines.

The survey also revealed that 45% of participants entered the cryptocurrency market in 2024, with 31% engaging in regular trading.

At the time of reporting, the price of Bitcoin (BTC) was $101,610.