Memecoins are again in the spotlight as some of the most popular dog-themed tokens performed remarkably during this bull cycle. Dogwifhat (WIF), Floki Inu (FLOKI), and Dogecoin (DOGE) have done impressive numbers this month.<\/p>\n
WIF\u2019s market capitalization skyrocketed to almost $4 billion, surpassing PEPE and taking third place as the largest memecoin in the market by this metric.<\/p>\n
Hats On, Is WIF Going To The Moon?<\/h2>\n
Yesterday, WIF\u2019s price increased 32% in half a day, setting a new all-time high (ATH) of $4. Simultaneously, its market capitalization jumped from $3.04 billion to $3.98 billion, according to CoinMarketCap data, which represents a 30% increase in the same timeframe.<\/p>\n
This remarkable performance saw dogwifhat flipping PEPE as the third largest memecoin by market cap, now ranking just below Dogecoin<\/a> and Shiba Inu (SHIB) in this category.<\/p>\n<\/p>\n As reported<\/a> by EmberCN, this performance gave wifto100billy.sol, the largest WIF holder, $134 million in unrealized profits. This whale bought 37 million WIF for approximately $9.33 million at an average of $0,248. When it reached its ATH price of $4, the wallet saw a 1440% gain on the inversion.<\/p>\n Since then, WIF\u2019s market cap has decreased to $3.65 billion, which still represents a 15.25% increase from 24 hours ago and remains above PEPE\u2019s $3.82 market cap.<\/p>\n $WIF<\/a> approaching $4 like pic.twitter.com\/SyXLRHUPnL<\/a><\/p>\n \u2014 risicare (@risicare_eth) March 29, 2024<\/a><\/p>\n<\/blockquote>\n Similarly, WIF saw an 8.5% correction from its ATH price. At the time of writing, the token changes hands at $3.66, a 20% increase in 24 hours. Moreover, WIF\u2019s market activity skyrocketed by 70%, with its daily trading volume reaching $808.4 million.<\/p>\n Dogwifhat is one of the newest players in the market, and it has accomplished incredible achievements since its launch in November 2023. The token has amassed a loyal community that seems to be focused on bringing the project \u201cto the moon.\u201d<\/p>\n After putting on their hats, WIF investors raised over $700,000 in a few days as part of its Las Vegas Sphere project, displaying the community\u2019s extent. Furthermore, Cryptonary\u2019s CTO, Asad Saddique, revealed in an X post that Dogwifhat has recently reached 100,000 \u201corganic\u201d holders.<\/p>\n WIF just crossed 100,000 holders<\/p>\n no brute force or gamed bs<\/p>\n i know bc ive manually tracked it daily since early dec pic.twitter.com\/K1W4GHG98d<\/a><\/p>\n \u2014 asad (@xbtcas) March 28, 2024<\/a><\/p>\n<\/blockquote>\n Nonetheless, the divisive memecoin presale frenzy<\/a> has created a fear of fatigue from overexposure to these tokens, with some investors arguing that memecoins are taking a turn for the worse. Despite this, interest has not faded away.<\/p>\n Ethereum\u2019s founder, Vitalik Buterin, recently published<\/a> a blog post titled \u201cWhat Else Could Memecoins Be?\u201d In the post, Buterin discussed the current state of the memecoins landscape and expressed his \u201cdisappointment\u201d that innovation is not driving these projects to the market.<\/p>\n Just this month, many controversies have surrounded the crypto community regarding memecoins, including the appalling launch of racist and antisemitic tokens.<\/p>\n Undoubtedly, the memecoin market is broad, diverse, and full of enough potential that projects can develop and grow a strong community. Still, it appears efforts from projects working to be more than a meme are overshadowed by the controversial actors in the market.<\/p>\n Featured Image from X.com, Chart from TradingView.com<\/p>\n Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Memecoins are again in the spotlight as some of the most popular dog-themed tokens performed remarkably during this bull cycle. Dogwifhat (WIF), Floki Inu (FLOKI), and Dogecoin (DOGE) have done impressive numbers this month. WIF\u2019s market capitalization skyrocketed to almost $4 billion, surpassing PEPE and taking third place as the largest memecoin in the market […]<\/p>\n","protected":false},"author":2,"featured_media":252560,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-274253","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/274253","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=274253"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/274253\/revisions"}],"predecessor-version":[{"id":274255,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/274253\/revisions\/274255"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/252560"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=274253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=274253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=274253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Top 5 memecoins by market capitalization. Source: CoinMarketCap<\/pre>\n
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Dogwifhat Shows \u201cOrganic\u201d Growth, But What\u2019s Going On With Memecoins<\/h2>\n
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![\"crypto,](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/03\/WIFUSDT_2024-03-29_08-19-31.png?w=860&resize=860%2C433\")
<\/p>\nWIF is trading at 3.68 in the 1-day chart. Source: WIFUSDT on Tradingview.com<\/a>\u00a0<\/span><\/pre>\n