Shiba

dogwifhat

Dogecoin

Shiba Inu

The meme coins have gained notable traction lately, amid a price rally of the major players in the segment, especially the Solana-based dogwifhat (WIF). However, recent retreats in the prices of top contenders like Shiba Inu (SHIB) and Dogecoin (DOGE) have stirred speculation about the sustainability of the meme coin frenzy.
While some view these setbacks as strategic maneuvers by investors, others question if this marks the beginning of a downturn for meme coins.
<h2 id="dogwifhat-wif-crossed-2-despite-shib-doge-dip">dogwifhat (WIF) Crossed $2 Despite SHIB &amp; DOGE Dip</h2>
The crypto market has been abuzz with excitement over <a href="https://coingape.com/meme-coin/" target="_blank" rel="noopener noreferrer nofollow">meme coins</a>, with last week seeing these tokens emerge as top gainers. Despite the recent dip in prices of leading meme coins like SHIB and DOGE, market participants remain optimistic about the meme coin phenomenon. Analysts suggest that the retreat of SHIB and DOGE could be a strategic move by investors, redirecting attention towards other meme coins.
This redirection is evident in the impressive rally of lesser-known meme coins like <a href="https://coingape.com/dogwifhat-wif-price-rallies-as-binance-announces-listing/" target="_blank" rel="noopener noreferrer nofollow">dogwifhat (WIF)</a>, which has surpassed the $2 milestone, showcasing growing investor confidence. Meanwhile, as reported by CoinGape Media, BitMEX co-founder <a href="https://coingape.com/dogwifhat-wif-bitmex-arthur-hayes-predicts-wif-price-to-hit-2/" target="_blank" rel="noopener noreferrer nofollow">Arthur Hayes</a> had previously shown optimism for the crypto to surpass the $2 mark.
Meanwhile, other meme coins like <a href="https://coingape.com/markets/is-pepe-coin-overbought-after-a-600-rally-or-just-warming-up/" target="_blank" rel="noopener noreferrer nofollow">Pepe Coin (PEPE)</a> and Floki have also witnessed significant price surges, indicating a broader enthusiasm for meme coins in the market. Considering the mixed performance, the traders are keeping a close watch on the price actions in the meme coin segment.
Also Read: <a href="https://coingape.com/xrp-news-is-sec-in-crosshairs-of-presidential-candidate-rfk-jr-asks-ex-ripple-exec/" target="_blank" rel="noopener noreferrer nofollow">Is SEC In Crosshairs Of Presidential Candidate RFK Jr, Asks Ex-Ripple Exec</a>
<h2 id="strategic-shifts-and-continued-optimism">Strategic Shifts and Continued Optimism</h2>
Despite the enthusiasm over WIF crossing the $2 mark, the retreat in Dogecoin and <a href="https://coingape.com/shiba-inu-shibs-2-tln-move-sparks-speculations-price-to-reach-0-0001/" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu</a> prices has raised eyebrows among market analysts. Notably, some attribute the dip to recent liquidation data, with significant sell-offs recorded.
As the meme coins noted an unprecedented surge lately, some investors might have taken a profit-booking opportunity from that. According to CoinGlass <a rel="noopener noreferrer nofollow" href="https://www.coinglass.com/LiquidationData" target="_blank">data</a>, Dogecoin saw liquidations totaling $40.85 million in the last 24 hours, while Shiba Inu noted liquidations amounting to $26.28 million.
Besides, analysts interpret the recent pullback in SHIB and DOGE prices as strategic moves by investors, possibly reallocating their assets to other meme coins. This strategic maneuvering reflects the dynamic nature of the meme coin market, where sentiment can swiftly shift between projects.
Despite short-term fluctuations, the broader outlook for meme coins remains positive, with growing interest and adoption. As of writing, the dogwifhat price was up around 41% and traded at $2.08, while its one-day volume skyrocketed 213.28% to $1.46 billion.
<figure id="attachment_184339" aria-describedby="caption-attachment-184339" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class=" wp-image-184339" src="https://coingape.com/wp-content/uploads/2024/03/dogwifhat-WIF-Price-Chart-6-03-24.png" alt="dogwifhat (WIF) Price" width="752" height="541" srcset="https://coingape.com/wp-content/uploads/2024/03/dogwifhat-WIF-Price-Chart-6-03-24.png 975w, https://coingape.com/wp-content/uploads/2024/03/dogwifhat-WIF-Price-Chart-6-03-24-300x216.png 300w, https://coingape.com/wp-content/uploads/2024/03/dogwifhat-WIF-Price-Chart-6-03-24-768x552.png 768w, https://coingape.com/wp-content/uploads/2024/03/dogwifhat-WIF-Price-Chart-6-03-24-150x108.png 150w" sizes="(max-width: 752px) 100vw, 752px">
 <figcaption id="caption-attachment-184339" class="wp-caption-text">
 dogwifhat (WIF) Price Chart
 </figcaption>
</figure>
On the other hand, the <a href="https://coingape.com/price/dogecoin/" target="_blank" rel="noopener noreferrer nofollow">Dogecoin price</a> slipped 4.87% in the last 24 hours to $0.1695, while the <a href="https://coingape.com/price/shiba-inu/" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu price</a> plunged 4.84% to $0.00003704. However, the <a href="https://coingape.com/price/pepe-coin/" target="_blank" rel="noopener noreferrer nofollow">Pepe Coin price</a> has added over 9%, while the <a href="https://coingape.com/price/floki-inu/" target="_blank" rel="noopener noreferrer nofollow">FLOKI price</a> was up nearly 13% in the same time frame.
Also Read: <a href="https://coingape.com/xrp-whales-accumulate-39-mln-xrp-from-binance-price-recovery-ahead/" target="_blank" rel="noopener noreferrer nofollow">XRP Whales Accumulates 39 Mln XRP From Binance, A Price Recovery Ahead?</a>
The post <a href="https://coingape.com/wif-crossed-2-amid-shib-doge-5-dip-meme-coin-buzz-continue/" rel="noopener noreferrer nofollow">WIF Crossed $2 Amid SHIB &amp; DOGE’s 5% Dip, Meme Coins Buzz To Continue?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

WIF Crossed $2 Amid SHIB & DOGE’s 5% Dip, Meme Coins Buzz To Continue?

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