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Market strategist Raoul Pal reveals his latest crypto watchlist, a reflection of his concentrated bets for the ongoing bull market, which includes Dogecoin.
In this latest Doge crypto news, In a disclosure today, Pal emphasized that while he may not be the best or worst performer, his strategy involves extracting profits from some tokens to invest in long-term cultural NFTs. Among his highlighted assets, Dogecoin (DOGE) takes center stage alongside six other promising tokens.
Pal is Bullish on Dogecoin
Dogecoin, the original meme coin, is a focal point in Pal’s investment strategy. At its current price of $0.4071, DOGE has seen moderate short-term gains. Over the past 24 hours, it rose 2.23%, recovering slightly amid a 12.42% drop in the last 7 days.
Dogecoin’s market cap now stands at $59.9 billion, with an impressive 24-hour trading volume of $2.63 billion. The token is continuously looking to solidify its hold above the $60 billion market cap level, which it attained during the latest run.
Pal’s confidence in Dogecoin comes from his past analysis of the token. In September, he referred to DOGE as a major meme coin in his portfolio alongside Smoking Chicken Fish (SCF).
My core crypto bets:
Main game – $SOL
Outperformer gaining adoption – $SUI
Memes – $SCF and $DOGE
Long term investments – Culture NFT's ( still building portfolio)
I won't have the best bets and not the worse but I think risk adjusted it's decent. Memes may change in time.
— Raoul Pal (@RaoulGMI) September 27, 2024
At the time, he considered these tokens risk-adjusted bets that could present major returns. His stance proved useful during the November uptrend, triggered by Donald Trump’s election victory, when Dogecoin rallied by over 200% to hit $0.48 on Nov. 23. The surge allowed DOGE to move higher up in the top asset ranking.
However, since late November, Dogecoin has faced major resistance, consolidating at the lower end of the $0.40 level since Dec. 10. Despite the roadblock, Pal has maintained confidence in its uptrend potential.
Previously, he pointed out after the November rally that Dogecoin had outperformed Bitcoin by an astonishing 550% since its inception. Surprisingly, he called DOGE “harder money” than Bitcoin and expressed optimism about its future performance.
Six Other Assets on Raoul Pal’s Watchlist
This optimism is now reflected in his latest watchlist. While Dogecoin steals the spotlight, Pal’s watchlist also includes six other tokens, each presenting different opportunities in the ongoing bull market.
The watchlist combines established assets, high-growth projects, and meme-driven tokens. Bitcoin (BTC) leads the list with its $2.07 trillion market cap and a 3.86% weekly gain, with its $50.6 billion 24-hour trading volume confirming investor interest.
Ethereum (ETH), priced at $3,963, also made the cut despite a slight weekly dip, with a $477 billion market cap. Solana (SOL), which Pal calls his “main game,” is the third asset on the list. It trades at $224.77 and boasts a $107 billion market cap.
Sui (SUI), which has continued to record new all-time highs, is also among Pal’s top picks. Interestingly, SUI is up 13.48% over the week to $4.80. Meanwhile, besides Dogecoin, Pal picked another meme coin Smoking Chicken Fish, which has seen a 27.54% daily jump.