The price of PEPE, the meme coin that has taken the market by storm, has risen 100 percent since April 19 but is currently facing a slowdown. The price of WOJAK rose nearly 300 percent at one point on April 19th but has seen significant selling pressure. Is the meme coin tide making a comeback? Market analyst Akash Girimath explains why he invested in three meme coin projects.
Meme coin portfolio based on New York trading session
After weeks of consolidation and a bullish outlook, sentiment seems to be starting to shift as the market feels pressure from bears. While some investors are already in a downtrend, others are indecisive and hesitantly bullish. Should you buy PEPE, DOGE, SHIB and other meme coins before April 20? Will Tesla CEO Elon Musk, a Dogecoin fan, make it?
The New York trading session will begin in less than five hours and my only hope for the $200 portfolio is for investors to start bidding. The increase in volume and potentially bullish outlook coupled with the FOMO from the “420 activity” could cause a renewed interest in investors. As mentioned in the previous article, I split the initial investment of $200 among three coins: PEPE, WOJAK and KERMIT. All three of these were trending at the time I invested. Here’s how I split my initial investment (I didn’t deposit the entire $200 at once):
- $50 worth of PEPE
- WOJAK worth $20
- $20 worth of KERMIT
After the article was published, I decided to invest in PEPE and bought another $30 worth of PEPE, bringing my total investment in the new shitcoin to $80. Due to the high popularity of these altcoins, the gas fee was higher than expected.
My total investment, including gas fees, reached $183.59. Currently my meme coin portfolio has increased by 19%. As a side note, readers should understand that this is unrealized profits, considering I still hold PEPE and WOJAK and sell KERMIT at a small loss.
The investment choice mentioned in the article is the analyst’s own choice and is definitely not investment advice. The cryptocurrency market is highly volatile and risky. In particular, projects such as meme coin carry more risks. Therefore, you also run the risk of losing all of your investments. As Kriptokoin.com, we recommend that you do not invest without doing your own research and determining your investment strategy.
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