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Crypto trader Intuitio drew parallels between the roles of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) and the emerging hierarchy in meme coins, dubbing Dogecoin (CRYPTO: DOGE) as the “BTC of memes” that paves the way for the rest.
What Happened: The trader likened Dogecoin to Bitcoin, describing it as “extremely safe, almost too safe,” and identified Pepe and Dogwifhat as the Ethereum of meme coins that are “obvious winners” with the “best Risk/Reward.”
He further categorized meme coins into three classes: Dogecoin (BTC equivalent), Pepe (CRYPTO: PEPE), and Dogwifhat (CRYPTO: WIF) (ETH equivalent) and all other meme coins, offering more risk and potential gain.
Intuitio advised against investing in Dogecoin for those who are not "huge whales," suggesting a portfolio allocation of 70% Pepe/Wif and 30% cat memes or political memes for success.
Also Read: These Two Meme Coins Will Hit A ‘$10B Valuation By Summer,’ Crypto Trader Predicts
Why It Matters: According to Intuitio, the current stage of the meme coin cycle is still very early, offering the potential for massive gains, but the market has already indicated what to expect.
He suggests that investors should approach meme coin allocation like the traditional portfolio allocation between Bitcoin, Ethereum and altcoins.
While meme coins are meant for quick and high returns compared to Bitcoin, they should be traded with caution due to their extremely volatile nature.
What’s Next: The influence of meme coins and Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
Read Next: Trader Who Made ‘Giga Wealth’ On Memes Reveals ‘Mememillions Playbook,’ Still Holds Most Of His DOGE
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Shutterstock
