Shima Capital bets on WOJAK, TRUMP, and three other meme coins

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.