Dogwifhat surprises investors by plunging 60%
Dogwifhat, the newest meme coin in Solana, has seen a 60% price collapse from its all-time high.
The currency is still ranked among the top three biggest meme coins in terms of market capitalization, nevertheless. The WIF token, which has seen a recent rapid climb of 22%, looks to be poised for a potential bounce as it attempts to maintain its over 1500% annual rise.
Conversely, KangaMoon (KANG) has maintained its notable interest from whales by hitting new presale benchmarks. KangaMoon is expected to dominate the meme coin market after raising more than $6 million by the end of April.
Dogwifhat (WIF) dropped by 60%
The emergence of dog-themed cryptocurrencies in the meme coin market serves as an example of how online trends can impact the financial industry.
A prominent illustration of this is Dogwifhat, a digital coin whose distinctive theme has drawn the interest of numerous traders and investors.
Another driver that will increase awareness of $WIF is the addition of perpetual futures tied to Dogwifhat, as announced by Coinbase Global Exchange in a post on X social media on Thursday.
The price of WIF hit its ATH of $4.83 on March 31st. But then it started a downward trend that persisted until April, reaching as low as $2.13. This decline represented a roughly 60% reduction in valuation as a result of volatility.
WIF was still seeing an increase in trade activity, though. The Dogwifhat token’s price has fluctuated between $2.14 and $3.43 throughout the last week.
By market capitalization, Dogwifhat is presently one of the top three largest meme currencies. Dogwifhat, which has gained 20.10% in the last month, is attempting to weather a 21% weekly loss while maintaining a higher pace of trading activity. In the end, Dogwifhat token is a serious candidate to ride this year’s bullish wave.
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