Tag Archives: Pepe Coin

Bitcoin

Solana’s Dogwifhat (WIF) Skyrockets 1300% And Claims Forbes’ Best-Performing Crypto Title

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Solana-based meme coin Dogwifhat (WIF) has taken the cryptocurrency market by storm, changing into the best-performing asset within the first half of the 12 months, because the Shiba Inu puppy-inspired token has outperformed Bitcoin’s (BTC) 48% surge since January, making it the highest returner amongst roughly 70 cash with market caps over $1 billion. 

Dogwifhat (WIF) Leads The Pack

In accordance to Forbes, Dogwifhat has emerged because the main performer among the many group of cash, with a market cap of greater than $1 billion, recording a 1,300% acquire from a low of $0.111 since December 2023.

Shut behind is Pepe (PEPE), recording good points of practically 800%. On the identical time, one other meme coin that has considerably elevated is Floki Inu (FLOKI), named after Elon Musk’s Shiba Inu canine, recording a 418% enhance over the identical interval. Equally, Shiba Inu (SHIB) has seen a 67% enhance. 

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Whereas meme cash dominate the highlight, the report notes that a number of tokens outdoors the meme coin realm have additionally showcased exceptional rallies, surpassing Bitcoin’s efficiency. 

ETH, the token of the Ethereum community, is up 51% and is poised for potential good points after the anticipated full approval of the spot Ethereum ETF market, just like Bitcoin, anticipated to be traded within the coming weeks. 

Binance Coin (BNB), issued by the world’s largest crypto change by buying and selling quantity, has additionally surged 81%, outperforming BTC’s worth motion regardless of latest regulatory and authorized challenges confronted by billionaire former CEO Changpeng Zhao (CZ), who’s at present serving a 6-month sentence following a plea cope with US authorities in 2023.

Meme Coin Bonanza

Whereas WIF has grow to be the star performer with a 1,306% enhance, its market cap has additionally made a notable restoration in latest months after shedding a excessive of just about $4 billion to at present attain a market cap of $2.1 billion, which has secured Dogwifhat’s 54th place within the prime 100 cryptocurrencies available on the market. 

Pepe additionally follows behind WIF on this key monetary metric, reaching a market cap of $5 billion. Nevertheless, the 2 are far behind Dogecoin (DOGE) and SHIB’s market cap figures, which at present stand at $17 billion and $10 billion, respectively, being the biggest meme cash within the crypto market. 

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Different cash, equivalent to Synthetic Superintelligence Alliance, additionally outperformed the biggest cryptocurrency available on the market, surging 545% to succeed in a market cap of $3.6 billion throughout the identical interval, whereas Floki skilled a progress of 392% to succeed in a market cap of $1.6 billion following the latest market hunch recorded since March and April highs. 

Dogwifhat
The 1-D chart exhibits WIF’s worth trending upwards. Supply: WIFUSD on TradingView.com

On the time of writing, WIF continues to rally and is buying and selling at $1.899, up over 14% within the final 24 hours. Nevertheless, the meme coin is buying and selling 60% beneath its all-time excessive of $4.83, set in March 2024. 

Featured picture from DALL-E, chart from TradingView.com 

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Comparing The Profitability Of The Top Meme Coins

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Holders of the highest meme cash have witnessed tough worth motion prior to now few weeks. The vast majority of meme cryptos have crashed exhausting over the last week, with losses of over 20% in every asset throughout the board. Notably, holders of the highest meme cash Dogecoin, PEPE, and Shiba Inu have been disillusioned, as the value drop means a lot of them have now fallen out of profitability. 

Curiously, IntoTheBlock’s “In/Out Of The Cash” metric exhibits a various degree of profitability in every meme coin, and it looks like SHIB holders are presently feeling the warmth essentially the most.

Evaluating The Profitability Of The High Meme Cash

Dogecoin, Shiba Inu, and PEPE are the highest OG meme cash. Dogecoin and Shiba Inu have grown through the years and are pushing themselves to the easiest as they give the impression of being to improve from the meme token standing. PEPE, the most recent of the bunch, just lately joined the ranks after robust rallies in.

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March and Might. Nevertheless, current market dynamics have seen these fun-branded cryptocurrencies taking a brutal beating, with every plunging over 20% and over 40% prior to now seven and 30 days respectively.

Dogecoin, the OG meme coin and king of the meme market, has plummeted by 24% and 41.8% prior to now seven and 30 days, respectively. The self-proclaimed “Dogecoin killer,” Shiba Inu, has additionally misplaced a few of its bites in current weeks and is down by 23.5% and 49% prior to now seven and 30 days, respectively. Even the web’s favourite frog, PEPE, couldn’t escape the downturn. The meme-inspired crypto has been down by 34.5% and 45.6% prior to now seven and 30 days, respectively.

IntoTheBlock’s profitability metric follows wallets which are “within the cash,” “on the cash,” and “out of the cash.” “Within the cash” tracks these making a revenue on the present worth, whereas “out the cash” tracks these in losses. In keeping with the International In/Out of the Cash, 3.43 million Dogecoin addresses, representing 54.05% of complete addresses, are nonetheless in revenue, whereas 1.77 million addresses, representing 27.93% of complete addresses, are actually at a loss.

Equally, 58% of PEPE holders (155,810 addresses) are within the cash, whereas 32.36% (86,940 addresses) are in losses. Then again, solely 20.47% (274,540 addresses) of SHIB holders are getting cash at its present worth, whereas a 52.46% majority (703,700 addresses) are swimming in losses.

Dogecoin

PEPE
Supply: X

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Is It Time To Purchase Dogecoin, Shiba Inu, And PEPE?

On the time of writing, Dogecoin is buying and selling at $0.09535, Shiba Inu is buying and selling at $0.00001321, and PEPE is buying and selling at $0.000007991. Whereas all three cryptos are nonetheless susceptible to additional worth declines, the current double-digit dips might current a horny alternative for meme coin fans to “purchase the dip.”

Dogecoin price chart from Tradingview.com
DOGE worth at $0.1 | Supply: DOGEUSDT on Tradingview.com

Featured picture created with Dall.E, chart from Tradingview.com