- 94% of meme coin holders also invest in Bitcoin and Ethereum later.
- US leads in meme coin adoption, with 31% starting their crypto journey with them.
- Meme coins now have a combined market cap of $74.4 billion.
Meme coins are no longer just a punchline in the crypto world.
A new study by Gemini suggests these internet-born tokens are now the entry point for over 30% of new cryptocurrency users across key markets like the US, UK, and Australia.
According to the State of Crypto 2025 report, meme coins such as Dogecoin and PEPE are not only attracting first-time investors but also acting as stepping stones into more established digital assets like Bitcoin (BTC) and Ethereum (ETH).
This finding highlights a broader shift in investor behaviour and growing convergence between retail trends and institutional access.
Gemini report shows meme coins as crypto onboarding tools
The report draws on data from 7,205 respondents across six countries and reveals that meme coins serve as early training tools for new investors.
In the US, 31% of those who own both meme coins and traditional cryptocurrencies said they bought meme tokens first.
The trend is mirrored across other markets, with 30% in Australia, 28% in the UK, 23% in Singapore, 22% in Italy, and 19% in France following a similar pattern.
This shift in entry behaviour reflects meme coins’ growing role in demystifying wallets, decentralised exchanges, and tokenomics.
Gemini’s data shows that 94% of meme coin holders eventually invest in major cryptocurrencies.
This progression underlines the fact that meme tokens act as gateways rather than endpoints in crypto journeys.
Institutional crypto access rises as meme coins gain ground
The increasing legitimacy of meme coins coincides with a significant institutional push into digital assets.
The Gemini report finds that 39% of US investors now hold crypto through exchange-traded funds (ETFs).
These regulated instruments are bringing new credibility to the space and creating overlap with retail-driven segments like meme coins.
Combined market capitalisation for meme coins currently stands at $74.4 billion, according to CoinGecko.
What started as parody has developed into a meaningful vertical within the broader crypto market.
The synergy between viral meme content and professionalised investment vehicles suggests that crypto adoption is maturing in complexity and scale.
Adding further momentum is the political backdrop in the US. President Donald Trump has voiced support for crypto, even proposing the creation of a Strategic Bitcoin Reserve.
His stance aligns with a wider regulatory shift that includes approvals for spot Bitcoin ETFs.
Together, these factors contribute to a climate that supports both the entertainment value of meme coins and the financial rigour of traditional crypto investments.
Community engagement now drives meme coin valuation
The latest sentiment from industry insiders supports the growing seriousness around meme coin investment.
Justin Sun, founder of Tron and an advisor to Huobi Global, also commented on this trend.
He highlighted that success in meme coins requires more than virality—it demands genuine community engagement.
For Sun, this means looking beyond follower counts to actual participation and interest.
He described meme coin projects as requiring the same level of commitment as major crypto platforms to gain traction and achieve long-term viability.
