Meme Portfolio Week 31 | Picking Winners is Hard !


I managed to flip a switch after being someone who cared a lot about fundamentals in crypto and started to get into Meme Coins with a small % of my overall portfolio trying to play this game and see how it goes. These are weekly update posts keeping track of what's happening in the space while keeping track of my Portfolio...

I've been in this meme coin adventure now for 30+ weeks pretty much getting in near the peak initial hype and where coins like WIF started to go above 3$+. The great thing about documenting the journey here on Hive that it's easy to look back which I did based on the first couple coins that I bought.

MemeCoinPrice Week 1Now%
TREMP0.64$0.31$-52%
BODEN0.40$0.007$-98%
WIF3.17$2.84$-20%
BENJI0.0034$0.00048$-86%
PENG0.36$0.183$-49%
BONK0.000029$0.000023$-21%

Pretty much all are down hard and some of them like boden and tremp I already dumped quite a while back. If I learned anything is that it is really hard to pick the winners as you only really see them after there was an initial pump which leaves the upside in the short term limited since there are many bag holders who want to take profit.

While the idea of buying 1000$ of something like SPX at 0.01$ to see it shoot up to ~1$ to sell at 80k is tempting to try, the reality is that this is like finding a needle in a hay stack.

So I continue to just hold a portfolio of a diversified number of coins hoping some of the established ones continue to do well and to have 1 or 2 coins that make crazy profit. However, if this happens it will be hard not to sell too early or too late for all I know. So it's hard but a lot of fun and I will continue to grind it out with an eye to capture the growth in the market in case retail would come in allowing them to buy my bags before the inevitable total collapse of this market similar to NFTs.


Meme Coin Narratives...

Every week it looks like a new narrative and the main story these past 2 weeks has been the AI agent who started shilling a random coin (probably created in advance by the AI Agent creator). I'm not really educated on this narrative whatsoever

For me at 500 Million+ this simply is too high of a risk and I also don't fully understand it?

Emoji Narrative 1 Week later
The total market cap of all emoji coins went from 16.88M to 13.3M so the narrative already seems to have past or you could argue that it hasn't even started yet. I stick to my idea that the heart emoji has the most potential and I'm looking to increase my position a bit to 500k or to 1M in case it really would see a 90% dump.


Last Week Portfolio Performance

Overall things remained quite stable while actually it went down harder than it loos as SOL which is the coin most of the memes are trading against went up quite a bit. Jason still is keeping quiet and I'm tempted to buy some more as I know I will kick myself if another big pump comes on the next tweet. At the same time nobody who is an owner really likes the total neglect as it all really does feel like a scam which still doesn't make any sense to me.

I also removed $SENK which pretty much rug pulled the holders moving to a new version of the coin doing a pre-sale for it but no airdrop. It's one of the many that will go nowhere and totally to zero doing -99%. The goal is to have as few as possible from these and the best strategy likely is to take out the initial investment once it doubles. At the same time, the fomo in the good times is too high to sell.

Overall, I'm still up slightly on the portfolio compared to what I put in having had some nice winners but also multiple big losers.


New Week Watchlists!

I'm not really watching anything right now and likely will just let the portfolio run for another week to see where it goes.


Current Holdings (Solana)

Week 30Week 31

Meme Coin Portfolio


CoinChainPriceChangeHoldingValue
BRETTBASE0.09946$-4%240002387$
WIFSOLANA2.53$-0%5001265$
JASONSOLANA0.001167$-16%1M1167$
MOGBASE0.000001904$-2%500M952$
PONKESOLANA0.4139$+4%2000828$
MANEKISOLANA0.008029$+6%75k602$
BENJISOLANA0.0004779$+1%1.2M573$
VCATSOLANA2.13$-3%250532$
KEYCATBASE0.004136$-22%120k496$
USUGSOLANA0.0006421$+55%750k481$
LOABASE0.007801$-3%50k390$
REDOTON0.2324-15%1000232$
BENJIBASE0.02176$-19%10k217$
SLERFSOLANA0.2063$+10%1000206$
PENGSOLANA0.1839$-2%1000184$
SPX6900SOLANA0.8229$+19%200 (+100)165$
HAPPISOLANA0.0008290$-40%160k133$
❤️SOLANA0.0003243$-6%400k130$
ROOSTBASE0.002092$-35%50000105$
MOCHIBASE0.000007639$-14%10M76$
DOHSOLANA0.00005045$-22%1.25M63$
LOA on SolanaSOLANA0.001128$-42%50k56$
BONKSOLANA0.00002284$+0%2M46$
MAMBABASE0.0001031$-15%320k33$
Buy Funds-----
SOLSOLANA176$-0.1933$
----Total11352$

Previous Weeks


Conclusion

I'm still having plenty of fun with these Memecoins especially now that some start to pump again. I will see how it continues to evolve. A week is an eternity in meme coin world so I'll be back in 7 days with the next update...

Posted Using InLeo Alpha

WeekPortfolio ValueWeekPortfolio ValueWeekPortfolio Value
Week 011680$Week 1117894$Week 217385$
Week 024091$Week 1213771$Week 228204$
Week 034256$Week 1312849$Week 238835$
Week 044574$Week 1412998$Week 248310$
Week 054631$Week 1510177$Week 259651$
Week 066511$Week 1610207$Week 269416$
Week 076461$Week 1711846$Week 2712083$
Week 088536$Week 1811678$Week 2810080$
Week 099829$Week 1910889$Week 2910676$
Week 1014262$Week 208856$Week 3011882$
------
Week 3111352$----


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8 comments
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Its a minefield but if you get lucky with 1 then its all you need. I got lucky with 1 and made over 10k. But since then my luck has not been so good. I think the trick is to check the whale wallets in the memecoins that have hit the jackpot. These are the people in the know. Monitor the new memecoins that they are buying and copy trade. I reckon this is the only way to do it. I'm pretty successful at trading the traditional crypto and even I thought these were on steroids. Memecoins are just mental. Anyone that can make money on these over a long period is moving markets imo. There are just too many rugpulls.

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The way I see it, the main hope is that at one point retail really comes in which will likely make everything pump similar to what altcoins did in 2017. Right now it feels like the number of people who are actually deep into memecoins is still quite limited.

One thing is sure in that it's a ton of fun and I'm looking forward to see how it all will play out. Unless you take big risks on one coin and get lucky it will be hard to really make life changing gains with limited investment.

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There’s a memecoin in Japan gathering pace and people think it’s the mysterious Shiba Inu founder Mephisto . It’s on BSC . Called Osaka Protocol . Worth a punt .

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I never heard of it but looked it up, seems like it's an ETH coin that is 1.5 years old and it was was bridged to BSC 10 months ago. On eth the market cap is 85M. Chart looks pretty good in that it's 'only up' with just a 66% correction from the previous high.

It really feels like if you think you've seen all coins with a relatively high marketcap that always more of them pop up. It really makes me wonder where the space will go as in previous cycle there were only a couple and all money went into those.

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Looking week by week results it shows that you might be x5 in profit. But my question is how much have you invested from that or was there just an initial investment?

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I cost-averaged my way in as I went along. Not exactly sure but it's somewhere around 8-10k I put in so I'm in profit but nothing spectacular whatsoever. The idea was to stop once the portfolio went above 10k and from there on out use what I have to grow. The temptation to buy some more with outside funds is quite big though.

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