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 in what I believe could be a Meme Coin Summer...
Bitcoin has been in a sideways range now for 27 week and and it looks like the Memecoin craze ended around 10-11 weeks after I started to get into it. The main question now is if it's just dead with everything trending downwards, or if there at one point will be a revival with us having seen justan initial test pump. The fact however is that there are more and more memecoins each day and that it's hard to keep a community enthusiastic to keep going. Most projects really suffer from this and all are thinking 'now is not the time tp push and put effort'. This however will likely result in many of them trying together to fight for attention once the market picks up again which for many will make it impossible to stand out.
I continue to just bet on a range of coins in the hope that 1 or 2 of them make up for the losses of the others. With so many coins around though, it will be hard to have the big winner in the portfolio as it's hard to see everything going wild since there are so many while the attention likely will just go to a few. I continue to slowly add some on projects that I have some belief in.
This week out of 23 coins, 20 ended up with a loss. The average loss overall was -9.7% which is about how much SOLANA dropped in value over the course of the week
Accumulation
I kind of gave up on $DONKE as it feels like it is slowly dying out and sold what I had on an alternative wallet swapping it for some more $JASON and $SENK. That last one on not much higher market cap feels way more alive still with a way more active Telegram and Twitter.
There was a post yesterday from ZackXBT about $JASON stating some true facts that he hasn't been posting about the coin on his twitter since July and that he promoted some tron meme which afterward got deleted.
So the main question for me is if he actually scammed everyone 'twice', the first time unintentionally by making a paid tweet which activated the memecoin which got rugged and the second time claiming he was going to take it over and be committed to the space long term. However, I can't see how the reputation damage would not be worse that what it would take him to make the coin somewhat succeed. What I think is that he is planning to give out $JASON through a QR code on tickets and that the best way to start doing this is at a time when the coin is at it's lowest. What I would do in his place is to stack up as much as possible at this current price level while giving subtle hints that he's still in it which he did in telegram over a week ago. It's all a game of probabilities and even when estimating the chance at 80% that he did scam, the 20% that he didn't would mean a more than an easy 10x in his coin price. I think it's more something around a <20% chance that he scammed but I put it at 50% at the moment which still makes for a nice bet.
The main thing I really don't like at the moment is the fact that his silence will get many to capitulate who will blame him and see him as a scammer if at some point he fully does return. Also the fact that he blocked ZachXBT I don't like and I only see it as something that adds to the fud. My goal is still to reach 1M JASON. If there is no sign of life I can see it go lower still.
New Week Watchlists!
I'm not really watching many coins to buy right now.
Current Holdings (Solana)
| Week 23 | Week 24 |
|---|---|
| Coin | Chain | Price | Change | Holding | Value |
|---|---|---|---|---|---|
| BRETT | BASE | 0.06938$ | -16% | 24000 | 1665$ |
| LOA | BASE | 0.02430$ | +48% | 50k | 1215$ |
| JASON | SOLANA | 0.001204$ | -13% | 765k (+215k) | 922$ |
| WIF | SOLANA | 1.52$ | -4% | 500 | 760$ |
| BENJI | SOLANA | 0.0003654$ | -5% | 1.2M | 438$ |
| MOG | BASE | 0.0000008154$ | -23% | 500M | 407$ |
| DONKE | SOLANA | 0.00007647$ | -10% | 5M | 382$ |
| MANEKI | SOLANA | 0.004652$ | -13% | 75k | 349$ |
| SENK | SOLANA | 0.0002267$ | -5% | 1.5M (+500k) | 340$ |
| REDO | TON | 0.3291$ | -46% | 1000 | 329$ |
| PONKE | SOLANA | 0.2330$ | -21% | 1400 | 326$ |
| VCAT | SOLANA | 0.8912$ | -30% | 250 | 223$ |
| USUG | SOLANA | 0.0002102$ | -6% | 750k | 157$ |
| BENJI | BASE | 0.01538$ | -25% | 10k | 154$ |
| SLERF | SOLANA | 0.131$ | -16% | 1000 | 131$ |
| PENG | SOLANA | 0.1073$ | -13% | 1000 | 107$ |
| KEYCAT | BASE | 0.0007592$ | +31% | 120k | 91$ |
| ROOST | BASE | 0.001634$ | +47% | 50000 | 82$ |
| MOCHI | BASE | 0.000007911$ | -15% | 10M | 79$ |
| DOH | SOLANA | 0.00004415$ | -37% | 1.25M | 55$ |
| MAMBA | BASE | 0.0001122$ | -22% | 320k | 36$ |
| BONK | SOLANA | 0.0000165$ | -11% | 2M | 33$ |
| HAPPI | SOLANA | 0.0001426$ | -20% | 160k | 23$ |
| Buy Funds | - | - | - | - | - |
| SOL | SOLANA | 130$ | - | 0.05 | 6$ |
| - | - | - | - | Total | 8835$ |
Previous Weeks
| Week | Portfolio Value | Week | Portfolio Value | Week | Portfolio Value |
|---|---|---|---|---|---|
| Week 01 | 1680$ | Week 11 | 17894$ | Week 21 | 7385$ |
| Week 02 | 4091$ | Week 12 | 13771$ | Week 22 | 8204$ |
| Week 03 | 4256$ | Week 13 | 12849$ | Week 23 | 8835$ |
| Week 04 | 4574$ | Week 14 | 12998$ | Week 24 | 8310$ |
| Week 05 | 4631$ | Week 15 | 10177$ | Week 25 | - |
| Week 06 | 6511$ | Week 16 | 10207$ | Week 26 | - |
| Week 07 | 6461$ | Week 17 | 11846$ | Week 27 | - |
| Week 08 | 8536$ | Week 18 | 11678$ | Week 28 | - |
| Week 09 | 9829$ | Week 19 | 10889$ | Week 29 | - |
| Week 10 | 14262$ | Week 20 | 8856$ | Week 30 | - |
| - | - | - | - | - | - |
| - | - | - | - | - | Total Profit Taken |
| - | - | - | - | - | - |
