Prominent crypto trader Smiley Capital shared his meme coin portfolio, which he believes they will yield significant returns.
What Happened: Smiley Capital disclosed his memetic portfolio which includes Pepe PEPE/USD, MUMU, DOG THE NFT, POPCAT and MOG.
PEPE is “the most famous bag” and the trader’s largest holding, which he has been accumulating at a valuation between $400 to $500 million. He terms it the "Dogecoin DOGE/USD of this cycle" and the blue-chip meme coin of the cycle, targeting a market capitalization of $50 to $100 billion thanks to PEPE being “the best Ethereum and Trump beta with a low unit bias.”
Mumu The Bull MUMU/USD, similar to PEPE, is a meme used since 2018 in financial markets, including crypto, according to the trader He terms it the "leading bull memetic token, on the most famous online casino named Solana." His target sits at $5 to $10 billion for MUMU.
DOG THE NFT DOG/USD, according to Smiley Capital, is the “Mona Lisa of crypto.” He believes that when DOGE "pulls a 10-15x, add a zero to DOG gains." The trader predicts a valuation of $10-$15 billion for the meme coin.
Popcat POPCAT/USD, he believes, “will make normies laugh” and hence, will go pop to $5 to $10 billion. Finally, Mog Coin MOG/USD, the “embodiment of zoomer TikTok/Instagram culture,” is his “largest cultural bet.” He calls it the best ETH/PEPE beta with a $20 to $25 billion target.
![Benzinga future of digital assets conference](https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif)
Also Read: Dogecoin, Shiba Inu, Pepe Will Still Have Supercycle But ‘2021 May Never Happen Again,’ Muses Trader
Why It Matters: Smiley Capital revealed that he has been accumulating these five coins in the second half of 2023 and first quarter of 2024. He believes that concentrated conviction with size beats a ‘spray and pray' method, especially with meme coins that carry zero fundamental or long-term value.
He also mentioned that he has bought all of these tokens on open markets and is up 5-12x on every single one of them but plans not to sell the majority until the bull market tops.
What’s Next: The influence of meme coins is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
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