cryptobriefing.com
Venture capital (VC) fund Shima Capital accumulated five different meme coins on Monday, according to on-chain data firm Nansen. The VC made bets on Ethereum-based meme coins MAGA, $TRUMP, WOJAK, DEGEN, and ANDY. At the time of writing, four out of five of their positions are resulting in unrealized losses.
Shima’s highest bet was the DEGEN token, with $49,561 bought in the last 24 hours. Since they acquired the meme coin, its price has fallen by almost 4%.
The VC investment in $TRUMP was significantly smaller, as Shima allocated $8,992 to the US presidential election-themed meme coin. Their $TRUMP holdings sustain an 8% loss at the time of writing.
Moreover, Shima Capital invested $6,721 into another token surfing the US presidential election run, called MAGA. This meme coin is also weighing on the VC’s bag, as it slumped 8.4% in the past seven hours after its acquisition.
ANDY is a meme coin already deployed on different blockchains, such as Solana and Blast. Shima Capital allocated $3,677 to its Ethereum-based version, with a 6.3% drawdown since the investment.
The last meme coin investment made by the VC this Monday was a $9,401 allocation into WOJAK, which resulted in a 20% return so far and is also the only profitable meme coin bet by Shima Capital at the time of writing.