Meme Coins: The Gateway Drug for Crypto Newbies, Says Gemini Report
Forget Bitcoin 101—today’s crypto rookies are cutting their teeth on meme coins before diversifying, according to a new Gemini study. Dogecoin knockoffs and cat-themed tokens now serve as the industry’s unofficial onboarding ramp.
Who needs fundamentals when you’ve got memes? The report reveals most investors first dabble in speculative joke assets before ’graduating’ to more serious plays—proving once again that financial literacy takes a backseat to viral hype in crypto’s wild west.
Wall Street analysts are reportedly drafting think pieces titled ’Why Tulips?’ as we speak.
Meme Coins Spark Broader Crypto Participation
According to the latest report titled “State of Crypto” by Winklevoss twins-led crypto exchange Gemini, meme coins are encouraging newcomers to explore the digital asset industry. This was found after conducting a survey of 7,205 consumers in the US, UK, France, Italy, Singapore, and Australia (approximately 1,200) consumers per country.
A large majority – a whopping 94% – of meme coin holders also hold other types of cryptocurrencies, suggesting that meme coins act as a bridge into the broader crypto ecosystem. Many users appear to begin their journey with these tokens before branching out.
For example, 31% of US investors who own both meme coins and traditional cryptocurrencies say meme coins were their first crypto purchase. That trend is similarly reflected in Australia and the UK, which trailed with 28% each, followed by Singapore with 23%, Italy with 22%, and France with 19%.
Interestingly, France also leads in overall meme coin ownership, with 67% of its crypto investors holding at least one. The trend continues across other regions with Singapore at 59%, Italy at 58%, the UK at 57%, the US at 55%, and Australia at 45%.
Europe Leads Crypto Ownership
Zooming out, crypto ownership has grown steadily across multiple regions following the 2022 market downturn. Europe reported a notable rise. In 2025, 24% of UK respondents said they owned cryptocurrency, up from 18% in 2024.
France saw a similar rise, with ownership increasing to 21%, also from 18% the previous year. Analysts attribute this growth in part to a more favorable regulatory climate in Europe, driven by the phased rollout of the EU’s Markets in Crypto-Assets (MiCA) framework over the last two years. Singapore recorded the highest rate of crypto ownership among the surveyed countries, with 28% of respondents reporting they hold digital assets.
In the United States, President Donald Trump’s recent crypto-friendly policies are also influencing public sentiment. After vowing to support digital assets during his campaign, Trump has launched a Strategic Bitcoin Reserve, restructured the SEC toward a more innovation-driven stance, and backed legislation aimed at regulating stablecoins and broader crypto markets.
Additionally, he introduced a Trump-branded meme coin, which reached nearly $3 billion in market cap this month. These developments appear to be boosting confidence among potential investors. Nearly 23% of non-crypto owners in the US said the Strategic bitcoin Reserve made them more confident in crypto’s value.
Trump’s initiatives are having an international Ripple effect on attitudes toward digital asset investment, as 21% of non-crypto owners in the UK and 19% in Singapore echoed a similar sentiment.
