Dogecoin, Shiba Inu, PEPE Top Institutional Investors Meme Coin Holdings, How Much Did They Buy?

Institutional Investors' Embrace of Meme Coins

According to a recent report from cryptocurrency exchange Bybit, institutional investors have exhibited a keen interest in meme coins, particularly Dogecoin and Shiba Inu. Since early in the year, these investors have actively traded these assets, amassing substantial holdings.

Surge in Institutional Meme Coin Holdings

From February to March, institutional investors initiated accumulation of Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE). By April, their spot holdings in these coins had surged 226% to $204 million. The peak of the meme coin trend saw further accumulation, with total holdings reaching $293.7 million.

Profit-Taking and Position Exits

As the sentiment around meme coins reached its peak, institutional investors began exiting their positions. By May, their holdings had declined to $139 million, suggesting profit-taking in anticipation of price declines.

Widespread Adoption and Acceptance

The significant investments by institutional investors underscore the growing adoption and acceptance of meme coins within the cryptocurrency market. Asset manager VanEck's launch of a meme coin index further highlights the institutional interest in this emerging asset class.

Retail Investors Join the Trend

Bybit's report also reveals that retail investors have played a significant role in the surge in meme coin activity. Their holdings increased by 478% from February to April, mirroring the trend among institutional investors. However, retail investors also reduced their holdings later, albeit less significantly, leaving them with $371 million in meme coins.

Dogecoin's Dominance

Dogecoin remains the dominant meme coin among both institutional and retail investors. Institutional investors have allocated a higher percentage of their holdings to DOGE than retail investors, with DOGE accounting for 36.17% and 24.58% respectively.

Other Popular Meme Coins

Other meme coins, including Shiba Inu and Pepe, also hold significant positions in institutional and retail investors' portfolios. Shiba Inu and PEPE account for 20.95% and 14.61% of retail holdings, while institutions have invested 22.23% and 10.39% respectively in these coins.

Emergence of Newer Meme Coins

Solana-based meme coin BONK has emerged as a favorite among newer meme coins. Retail investors have allocated $136 million to BONK, while institutional investors have invested $74.5 million.