Heavily-followed pseudonymous crypto influencer SlumDOGE Millionaire announced a $300,000 investment in three meme coins, asserting that market dips are the best times to double down on one’s convictions.
What Happened: On Wednesday, SlumDOGE Millionaire took to X to reveal his recent investment in three meme coins: Dogwifhat (CRYPTO: WIF), Pepe (CRYPTO: PEPE), and Brett (CRYPTO: BRETT). He invested $100,000 in each coin, stating that he sees potential in all three and will take profits when he deems it appropriate.
He states, "The same conviction I had with Dogecoin I also have with these 3."
- Dogwifhat: He points to a possible listing on Coinbase, and it is too big to fail at this point. He also sees the Las Vegas Sphere as a potential catalyst for a potential bull run. "I see WIF behind DOGE and SHIBA and could potentially flip one in the bull run, it's actually quite possible."
- Pepe: He terms Pepe as the "new meta of this next bull run" with a very strong community that has taken over the coin from the original team. He estimates market capitalization going to $30 to $70 billion.
- Brett: The biggest meme coin on the Base chain by valuation and volume and is forecasted to reach $20-$60 billion in valuation alongside a Coinbase listing. Coinbase will be onboarding its 100 million users over to Base chain.
"People will feel like they missed out on Pepe and FOMO into Brett just like last cycle when people thought they missed out on Dogecoin and FOMO'd into Shiba Inu," the influencer predicts.
Also Read: Trader Makes 12,000X Profit In 3 Months With Meme Coin Trading By Following These Rules
Why It Matters: The influencer’s investment comes at a time when the crypto market is experiencing a dip. He believes that such periods are the best times to invest, as one can never perfectly time the market bottom. He stated, “When it dips, we buy more!”
His strategy involves betting big on “proven winners” and holding them throughout the market cycle. He states he did the same with Dogecoin (CRYPTO: DOGE) and it got him where he is today. SlumDOGE MIllionaire foresees the best time to make profits being when Bitcoin is between $150,000 to $200,000 and that is his strategy.
While the influencer adds a disclaimer that he is not a financial advisor and his posts are for entertainment purposes, his influence in the crypto community is undeniable.
What’s Next: The influence of meme coins and Bitcoin as an institutional asset class are topics expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
Read Next: Uncovering Meme Coin Trader’s Portfolio Who Made $1.6M Profit In One Year
Image created using artificial intelligence with Midjourney.
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