Crypto influencers are shining a spotlight on meme coins and a fresh wave of retail interest. They believe these factors could drive the next big market rally. Some even predict that Dogecoin might surpass Solana, while Pepe has already made headlines with impressive gains.
In a recent episode of the 'Steady Lads' podcast, influencers Jordi Alexander, Justin Bram, Taiki Maeda, and Miles Deutscher discussed the rise of meme coins and their changing investment strategies. Justin Bram, who used to focus on Ethereum (ETH/USD), shared a significant shift in his approach. He said, "I can confirm that I’ve sold some ETH" to invest in meme coins like Pepe (PEPE/USD).
Taiki Maeda agreed, expressing a lessening excitement for Ethereum. He noted, "If people want to make money, they’re going to go to meme coins." Miles Deutscher chimed in with his own success story. He bought Pepe when it had a market cap of $100 million, and it soared to $10 billion. He advocates for "concentrated diversification" in investment strategies.
The group also talked about how quickly meme coins are being repriced. Miles pointed out that "clusters of memes under $200 million have quickly jumped to the $400-$600 million range." They acknowledged Bitcoin’s (BTC/USD) strength and growing institutional interest, with Taiki predicting, "Dogecoin (DOGE/USD) is going to flip Solana (SOL/USD)."
While meme coins are gaining traction, the influencers urged caution. Justin raised an important question: "What is the signal to get out?" This highlights the volatility and timing challenges that come with these investments.
This discussion showcases how the crypto investing landscape is evolving. Even seasoned traders are adjusting their strategies to capture current market trends. Expect to hear more about the influence of meme coins at Benzinga’s upcoming Future of Digital Assets event on November 19.