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Dogwifhat, a memecoin that lured investors in short terms, surged more than 400% in the past 365 days, with traders claiming it might reach $1 in coming months.
The cryptocurrency industry is evolving, and other market subcategories, including the memecoin community, are growing. Dogecoin(DOGE) is termed the pioneer of the memecoin category.
Most recently, Dogwifhat (WIF), a Solana-based memecoin, got listed on the European hand of Robinhood. WIF has topped the gainers list of the memecoin community in the past few weeks.
The listing of WIF came soon after Robinhood made significant developments, which started facilitating its users’ interaction with Arbitrum, an Ethereum Layer 2 solution.
In the past 365 days, Dogwifhat’s price grew over 450%, and when writing, it was trading at $0.958. The memecoin is primarily promoted by dozens of analysts and crypto social media influencers.
Market observers claim that WIF might break the tough resistance of $1. Doge Killer (LEASH) is the only meme coin trading above $100; as of writing, it was trading at $324.64.
LEASH hit $8,983.59 in May 2021 and traded highest in the past 365 days at $682.88. Rain Coin (RAIN), the second most valuable memecoin, is trading at $11.67, with a weekly decline of 18%.
Gainer & Losers
The intraday gainer list is ruled by Axelar (AXL), which grew over 42%. When writing, it was trading at $2.23. Dogwifhat is the second leader of the list, Fetch.ai and singularityNET (AGIX).
Mantle (MNT) lost 7.52% of the trading price, which makes it the topper of the losers list, followed by THORChain (RUNE) at 6.18%, Cosmo (ATOM) at 6.05%, and Dogecoin.
Major Market Updates
Following the sudden growth of Bitcoin price, the United States government transferred Bitcoin worth millions on February 28, 2024. The chunk that the government transferred was seized from the hackers’ Bitfinex accounts.
A report by Statista states that, till February 20, 2024, there are 420 Million crypto users globally. Bitcoin (BTC) is known as the crypto community leader; when writing, it was trading at $61,121. In the weekly time frame, its trading price surged 22%.
Bitfinex is a centralized cryptocurrency exchange owned and solely operated by iFinex Inc., which was established in 2012.
A significant boost in global cryptocurrency adoption and market capitalization of the crypto sector is seen. Since the beginning of 2024, the market has shown significant developments in terms of price.
Bitcoin is constantly heading towards its all-time high of $68,789; speculation is that the price might cross $70k following the 4th BTC halving.
Ethereum (ETH), the second most talked about crypto in the market, continues to grow alongside BTC. When writing, it was trading at $3,430. In the past seven days, the price of ETH has surged 17%, and its market cap reached $412 Billion.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
