This Opportunity Could Beat Elon Musk Memecoins to the Moon
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| By Bruce Ng |
You may know that I focus primarily on growth opportunities in the crypto market. That means I vet small-cap cryptos to see if they have what it takes to go the distance to give investors solid returns.
That’s why I’ve been so focused on memecoins this cycle. As the leading sector year to date, not to mention their volatility, means that investors with a higher risk tolerance can see impressive rewards with memecoins.
But you may not know that I’m also a rocket scientist. (That “Dr.” in my name isn’t just for show, you know!)
So, when my colleague on the TradFi side, Chris Graebe, mentioned he found an opportunity that could grow to dominate the modern-day space race currently led by the likes of Elon Musk’s SpaceX, I got excited.
See, Chris is a startup investment specialist. So, he also knows a good growth opportunity when he sees one. In this case, McKinsey & Co. values this opportunity at over $1.4 trillion.
And soon, Weiss Ratings members will be able to invest BEFORE it goes public.
You can watch this video to learn more.
Now, this got my blood pumping. Not only because of the strength and growth potential of what Chris has found. But because a space race against Elon Musk means the billionaire will once again be a topic of conversation on social media.
And when Elon Musk trends, the cryptocurrencies — particularly memecoins — that he’s associated with can see interesting price action. Especially if he tweets about them himself. This could mean potential upside volatility in Musk-based memecoins.
Now, I still believe memecoins will have staying power until the end of this cycle, with or without help from Musk. But there are several projects that he has directly inspired, and if strong enough, those could see impressive gains with their namesake trending.
If you navigate to this link, you will see a list of Elon Musk inspired coins:
After all, this type of memecoin supposedly trades on the reputation, successes and failures of the public figure they are associated with. And Elon always delivers in terms of the shocking remarks he makes on social media and the type of activities he gets up to.
Not to mention the fact that he runs several successful companies and is the second richest person in the world.
In short, he’s the type of public figure well-suited to highly volatile memecoins based on tracking his news alone.
So, I want to look at the top three — excluding Dogecoin (DOGE, “C+”), for reasons I’ll explain at the end — from the list above to determine if any are worth putting on your watchlist.
1. Dogelon Mars (ELON, Not Yet Rated)
ELON has been down only since the initial hype when it launched, and even that looks artificial. Since then, it doesn’t seem any serious community of holders have been formed.
This is a loser.
2. Grok (GROK, Not Yet Rated)
Capitalizing on the launch of the Grok AI on X.com, GROK has undergone two boom and busts cycles since inception. It is currently trading sideways due to the market downturn, but I don’t expect to see further rallies for this coin.
3. ELON (ELON, Not Yet Rated)
Lastly, ELON on Ethereum has seen similar price action. After its initial run up, it crashed and never recovered.
The Verdict
In short, I haven’t found any promising projects on this list. Instead, it’s a plethora of rip-offs, copycats and coins that were created on a whim to piggyback on the fame of Elon Musk.
It’s no surprise they all have poor price performances since inception.
The only promising coin that has experienced the Musk Effect is Dogecoin. It is also the leading memecoin, with the largest market cap, in crypto. It has undergone multiple boom and bust cycles in crypto and remains strong today.
I don’t see that changing in the near future. DOGE will likely remain one of the mainstays of crypto irrespective of the next boom and bust cycle. It’s also a pretty good indicator of the bull run cycle top — i.e. it pumps hard when the bull run is about to end.
However, it is considered a “Musk-inspired” coin only because Musk likes it and has tweeted multiple times about it. And due to its size, it doesn’t represent a solid growth opportunity, in my opinion.
As for the rest of the “Elon-inspired” memecoins, they are nothing than an attempt to piggyback on Elon Musk’s reputation and fame, as most celebrity coins are.
So, if you’re still looking for a growth opportunity, I’d suggest giving Chris’s find a closer look.
Otherwise, you can review the categories of memecoins I DO believe will perform well in the coming bull run. From there, you can find opportunities that fit with your strategy and portfolio.
Best,
Dr. Bruce Ng
