These Mem Tokens Could Compete with Dogecoin in 2024! Famous Cryptocurrency Bull Announces His Company’s Acquisitions!

Famous cryptocurrency bull Andrew Kang announced which altcoins Mechanism Capital, of which he is the co-founder, is focusing and investing in 2024.

At this point, Andrew Kang, sharing from his X account, stated that the crypto fund Mechanism Capital, which he founded, is turning to Donald Trump-centered tokens and NFTs.

At this point, Kang said they think Donald Trump’s media profile as the US presidential election approaches will likely push these meme coins higher, regardless of whether he wins or not.

Ethereum (ETH), Solana (SOL), and many Donald Trump-themed tokens across various networks have surged as much as 100% in the past 24 hours after Mechanism Capital said these tokens were among its 2024 positions.

Co-founder Andrew Kang said in his X post:

“Mechanism Capital took its first new positions of 2024.

These new positions center around Trump and include Trump-related meme coins and NFTs.

Mem tokens are all about the attention economy, and Trump is probably one of the best attention monopolists in the world.

The US primaries have just started and state/territorial elections are now happening every week or two until the summer, so he is CONSTANTLY in the news cycle.

And of course, there are general elections after this.

The primary focus of these investments is not just about whether Trump will win.

Polls show he’s very likely to win, but that’s not the point.

“The main focus is that Trump will always be in the headlines everywhere during the election cycle and people will be talking about Trump all the time.”

Finally, pointing out that there are risks in all mem tokens, Andrew Kang argued that the mem token named TRUMP could rival the popular mem tokens Dogecoin and Shiba Inu:

“It is worth noting that the main risk with Trump-themed meme tokens is that Trump himself will divest all of his TRUMP tokens.

This could destroy the TRUMP token immediately or go the DOGE /SHIB route.

At this point, TRUMP may be the first meme token I have seen that I believe could rival DOGE and SHIB.”

Mechanism Capital has accumulated its first new positions of 2024. These new positions center around Trump and include Trump related meme coins and NFTs. Prolific usage of Trump sticker packs to start immediately.

Basic Thesis

Meme coins are all about the attention economy and… pic.twitter.com/AXLPMmBs4u

— Andrew Kang (@Rewkang) February 5, 2024

*This is not investment advice.