Benzinga - by Khyathi Dalal, Benzinga Staff Writer.
Crypto trader Altcoin Sherpa reveals his current meme strategy, which centers on U.S. politics-related meme coins and considering a robust big cap like Dogecoin (CRYPTO: DOGE) for potential future gains.
What Happened: Sherpa’s meme strategy revolves around concentrating on a single sector, politics, currently holding positions in MAGA (CRYPTO: TRUMP) and USA (CRYPTO: USA), a US-focused meme coin on Solana (CRYPTO: SOL).
Current meme strategy for me:Concentration in 1 sector: USA politics
I own $TRUMP $USA and I want to buy $BODEN
Should be the largest narrative when the election stuff really gets going later this year. Trump is going to constantly be in the news and doing his normal antics.… pic.twitter.com/4R0cJvlG81
— Altcoin Sherpa (@AltcoinSherpa) May 9, 2024
He further expresses interest in purchasing Jeo Boden (CRYPTO: BODEN) as he believes this sector will become the largest narrative amid the election season gaining momentum later in the year.
He cites former President Donald Trump engaging in his "normal antics" as a potential driver of interest in these meme coins.
In addition to U.S. politics, Altcoin Sherpa is also keen on investing in a robust big-cap meme coin like Dogecoin. However, he plans to exercise patience before entering a position, suggesting that he expects Dogecoin to "do something crazy later this year."
Also Read: Donald Trump Says ‘You Better Vote’ For Him If You’re Pro-Crypto: But Has He Always Been ‘Fine With It’?
Why It Matters: By focusing on politically themed meme coins and anticipating the increased attention surrounding the upcoming election season, the trader positions himself to capitalize on the heightened interest and potential price action in this niche.
The trader emphasizes the importance of including memes in one’s portfolio and ignoring the defi/L1s/metaverse/gaming/RWA. He adds, "Memes should be high on your list as far as narratives/categories go."
This statement underscores Altcoin Sherpa’s belief in the potential of meme coins to generate significant returns, particularly in comparison to other popular sectors in the crypto space.
While Dogecoin is the original meme coin launched years ago, political meme coins have not completed one year of existence.
| Cryptocurrency | Price | Single Day Gains +/- | Market Cap |
| Dogecoin (CRYPTO: DOGE) | $0.1487 | +0.45% | $21.4B |
| MAGA (CRYPTO: TRUMP) | $6.36 | +53.9% | $270.2M |
| Jeo Boden (CRYPTO: BODEN) | $0.3377 | +11.6% | $242.8M |
| USA (CRYPTO: USA) | $0.055587 | +20.3% | $62.1M |
What’s Next: The influence of 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: House Challenges SEC Over Crypto Custody Rules, Biden Vows Blockade
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