Top Trader Wonders If 'Safer Big Caps Like Pepe, Dogecoin' Will Outperform His Meme Coin Portfolio

Author: Khyathi Dalal | June 26, 2024 07:32am

Pseudonymous crypto trader Altcoin Sherpa shared his current meme coin holdings and future investment ideas in the meme coin space.

What Happened: Sherpa revealed his current meme coin portfolio which includes mid-cap coins like Non-Playable Coin (CRYPTO: NPC), Foxy (CRYPTO: FOXY), Based USA (CRYPTO: USA) and Puff The Dragon (CRYPTO: PUFF). He also mused if he “should just go into safer big caps like Pepe (CRYPTO: PEPE), Dogecoin (CRYPTO: DOGE)” or “spray into a bunch of midsized ones.”

He mentioned that he had a significant position in Maga Memecoin (CRYPTO: TRUMP) but sold it due to perceived risks, limited upside, and volatility during the DJT stock price movements. He adds, "I still think it’s a great meme but I think the upside is somewhat capped and also existential risk is still a bit higher (anytime something can go to $0 is a bit scary)."

Sherpa is also looking to allocate more to cat coins as he sees “decent upside” in them.

Also Read: ‘The Easy Days’ In Crypto Are Over And Meme Coins Have Contributed To This, Says Trader

Why It Matters: Sherpa also hinted at the possibility of becoming a 100% rotator, a strategy that involves frequently changing investments based on market trends. "I'm toying around w. the idea of just being a 100% rotator instead of holding a bunch of s–tcoins (other than big caps ofc), we'll see what happens," he shared.

Supporting the meme coin super cycle theory,

Trader Unipics noted that meme coin performance against major coins reflects the “meme coin super cycle” is still not over.

quite a lot of big accounts bashing the idea of a 'memecoin supercyle' lately

yet this is what memecoins look like vs majors rn

if only these accounts know how much higher the memes are going…

say it after me:

MEMECOIN SUPERCYCLE pic.twitter.com/udhljDkWpJ

— Unipcs (aka 'Bonk Guy') 🎒 (@theunipcs) June 25, 2024

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: Is The ‘Meme Coin Super Cycle’ Over? Trader Outlines Pros And Cons

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Image created using artificial intelligence with Midjourney.

Posted In: $DOGE $PEPE