Popular trader “Bonk Guy” recently shared his perspective on the upcoming Doge Day and his investment strategy, focusing on meme coins like Floki (CRYPTO: FLOKI).
What Happened: In a series of tweets on Monday, “Bonk Guy” highlighted the hype around Doge Day, scheduled for April 20. He analyzed the performance of Dogecoin (CRYPTO: DOGE) in April 2021, when it surged 400% in a week, adding ‘imagine being sidelined on dog coins leading to doge day.’
While he doesn’t expect Dogecoin to replicate its 500% move within a week, he anticipates that other meme coins like Floki will outperform it. “Bonk Guy” stated, “in a bull run, you’ll make more betting on *established* betas since they have smaller market caps & are more volatile.”
He added that he had bought over $300,000 worth of FLOKI despite it being his biggest meme coin investment and plans to continue buying as long as it remains overlooked by Crypto Twitter. He also expects dogwifhat (CRYPTO: WIF) to do well.
See Also: What In The World Is Going On With Dogecoin?
Why It Matters: “Bonk Guy” is known for his successful daredevil trades, notably turning $16,000 into several millions with Bonk (CRYPTO: BONK).
His insights on meme coins, particularly Dogecoin and Floki, are closely followed by the crypto community.
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: Crypto Q1 Report Highlights 300% Meme Coin ‘Renaissance’ And ‘Major Step’ For Ethereum
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Shutterstock
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