Dogecoin, Shiba Inu And Other Meme Coins Are Entry Points To Crypto Ecosystem: Report

by Murtuza J Merchant Benzinga Staff Writer

Zinger Key Points

Meme coin activity is prevalent in emerging markets, where new investors are experimenting with various crypto asset types.
The crossover from meme coins to NFTs and DeFi indicates rising investor appetite for utility-driven digital assets beyond speculation.
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Meme coins like Dogecoin DOGE/USD and Shiba Inu SHIB/USD are no longer just speculative internet jokes, they’re acting as powerful entry points into the broader cryptocurrency economy, according to a new report.

A survey published by Gemini on Tuesday reveals that a significant share of crypto adopters first engaged with digital assets through meme coins before branching out into other areas like NFTs, DeFi and stablecoins.

Meme coins "may be fulfilling their purpose as an onramp for newcomers to enter the broader crypto ecosystem, according to the report.

The report highlights the Solana‘s SOL/USD blockchain’s role in powering meme coins, noting that Solana has arguably benefitted most from being the blockchain infrastructure that powers meme coins.

This finding counters the narrative that meme coins are merely a distraction or a risk to investor seriousness.

The report draws on responses from over 20,000 individuals across 20 countries and offers insights into how new entrants engage with the crypto world.

It notes that “among those who started with meme coins, 72% also bought NFTs, and 66% bought stablecoins,” suggesting strong crossover behavior into more utility-driven asset classes.

Also Read: Crypto Titans Deny Collusion Claims Over Trump-Linked DeFi Platform As Binance Founder Slams ‘Smear Campaign’

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Further, the meme coin adoption trend is especially notable among younger investors.

According to the report, “Men and younger respondents are more likely to have purchased meme coins,” signaling that the appeal of meme-based assets may align with a generation that is both digitally native and risk-tolerant.

The report also observed an evolving perception of meme coins across the broader crypto community: “Even among experienced crypto users, meme coins have been purchased by 44% of respondents.”

This statistic supports the idea that meme coin investing is not exclusive to novices but is part of wider portfolio experimentation.

What’s Next: While volatility and speculation still surround meme coins, Gemini’s data shows that these assets can serve a functional role in onboarding users to more complex products.

The report further states that meme coin investors were also more likely than non-meme coin investors to have diversified into other areas of crypto.

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