Renowned macro investor Raoul Pal has shed light on his involvement in the world of meme coins, revealing his top bets and insights into the potential future of these digital assets. Pal, the founder and CEO of Real Vision and Global Macro Investor, opened up about his meme coin investments and the relevance of this emerging sector.
According to Pal, his two biggest bets in the meme coin space, equally weighted, are Whiff and Bonk. He has been invested in these coins for a while now, alongside holding some Dogecoin, as he believes Elon Musk will likely do something with the popular meme coin over time. Apart from these three, Pal doesn’t have any additional investments in meme coins.
Pal’s approach to analyzing meme coins involves comparing charts relative to one another, such as Bonk versus other meme coins. He admitted to struggling with the direction of the Bonk and Whiff charts, which is why he avoids super-early investments, as he doesn’t have the time to delve into pump-and-dump schemes to determine what might move.
In an interview with Savvy Finance, Pal explained that the meme coin phenomenon is essentially speculation on whether certain cultural memes will become important. He doesn’t mind this speculation as long as everyone understands that it’s akin to betting on raindrops in a window. Pal also sees it as a way to test out what might happen.
“Let’s assume that you can participate in the success of that meme you’ve found, like spotting a band where you go to a pub. This band’s amazing, and then they end up becoming Coldplay. It’s that same feeling of discovering something nobody else discovered and becoming a big thing. This way, you get to participate financially,” he explained the meme culture.
Pal acknowledged that there is still value in these meme coins, as evidenced by the success of Dogecoin and Shiba Inu. He believes that two or three meme coins will persist, and the meme culture will continue to create further value, although he remains uncertain about what will ultimately drive that value.
Interestingly, Pal also speculated about the potential launch of a Dogecoin ETF, stating, “If the space remains true to form, Dogecoin should be the next ETF.”
