Crypto analyst Tony Edward announced a significant portfolio realignment the other day.

He revealed exiting holdings in large caps Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL) to instead favor meme coins Dogecoin (DOGE) and Bonk (BONK).

Crypto analyst Tony Edwards announced a significant portfolio adjustment as he’s exiting large-cap holdings in Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL) to favor meme coins Dogecoin (DOGE) and Bonk (BONK) instead.

In a recent X (formerly Twitter) post, Edwards explained that while meme coins are highly speculative, he believes they are best positioned for strong returns in the current market cycle. This contrasts with his less favorable outlook on established crypto leaders.

“I’m dumping ALL my Bitcoin, Ethereum, XRP, and Solana to go ALL IN on Dogecoin and Bonk. What do you think?!” Edwards asked his followers.

The crypto analyst had previously shared his bullish stance on Dogecoin earlier this month, highlighting the potential for a “monster move” by the meme coin.

In another post on Monday, Edwards said he was "feeling very optimistic" about the prospects for Dogecoin and Bonk.

His post drew a brief, humorous reaction from Ripple CTO David Schwartz, who simply replied with the popular acronym for “you only live once.”

This response perhaps highlights a broader current market mood that has seen an increase in speculation, risk-appetite, and potential for unexpected asset performance.

YOLO

How Are Major Cryptos Performing Today?

Bitcoin (BTC) is trading at $84,971.94 and showed a mild daily gain of 2.04% despite a weekly decline of over 3%.

Bitcoin’s market cap remains dominant at over $1.68 trillion, supported by a circulating supply nearing 20 million coins. However, recent price action shows potential signs of exhaustion, as trading volume has slowed, hinting at possible short-term consolidation for BTC.

XRP is trading at $2.14 and showed a mild daily gain of 1.31% as it faced resistance near $2.17, while $2.07 acted as a strong support level.

XRP’s trading volume dropped by 7.07% over the past 24 hours, suggesting reduced immediate bullish conviction among traders. However, the bounce observed from the $2.07 level shows buyers remain active defending key nearby support zones.

Ethereum (ETH) rose by 3.42% to $1,908.85 as it broke past the resistance at $1,850.

Despite this recent price climb, ETH’s trading volume fell by 5.62% during the same 24-hour period. Its positive volume-to-market cap ratio (around 6.53%) indicates solid underlying liquidity.

ETH found firm support near the $1,830 level recently; further significant gains likely depend on sustained buying demand emerging.

How Are Solana And Meme Coins Faring?

Solana (SOL) gained 1.46% to reach $128.33 as it rebounded from an intraday low below $125. Strong volume growth of 8.47% confirmed bullish sentiment.

However, the $130 price mark acts as a short-term resistance ceiling for now. With market focus potentially shifting towards specific narratives like meme coins, SOL’s upward momentum may face competition from assets perceived as higher-risk, higher-reward plays.

Dogecoin (DOGE) surged by 3.53% to $0.1732 despite a drop in trading volume.

DOGE broke above prior resistance near $0.167, but now faces further hurdles around the $0.175 resistance level.

The decline in volume suggests some buyers might be hesitating at these current price levels, but the bullish chart structure remains technically intact unless the prior $0.167 support level fails decisively.

Bonk (BONK), another Solana-based meme coin, showed growing strength among speculators. The token jumped 6.26% to trade near $0.00001197 as its 24-hour trading volume soared over 22%. This signals growing interest among retail and speculative traders.

Resistance immediately overhead near the $0.000012 mark remains the key breakout zone to watch. Nearby support around $0.0000112 is currently holding, offering a potential base for further price moves.