Research: 76% of Crypto KOLs Have Promoted Now-Defunct Meme Coins, High-Follower Accounts Performed the Worst

BlockBeats News, November 25th, according to a recent Coinwire research report, 76% of cryptocurrency Key Opinion Leaders (KOLs) on Platform X have promoted now-defunct Meme coins, with two-thirds of them promoting tokens that have completely lost their value. The data shows that out of 377 surveyed KOLs, only 1% of the promoted Meme coins achieved a tenfold increase in value.

The research found that 80% of the promoted Meme coins experienced a 70% crash within a week, plummeted by 90% a month later, and over 90% drop three months later. KOLs with over 200,000 followers had the worst promotion results, with their promoted projects averaging a 39% loss after one week, which extended to an 89% loss after three months. In contrast, small accounts with fewer than 50,000 followers saw an average of 141% positive returns on promoted projects three months later. (Bitcoin.com News)