dogwifhat

Solana

Dogecoin

Coin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/solanas-meme-coin-ecosystem-thrives-with-dogwifhats-surge/" data-wpel-link="internal">Solana’s Meme Coin Ecosystem Thrives with Dogwifhat’s Surge</a><br></p>
<p style="text-align: justify"><strong>Cryptocurrency</strong> world has never been this exciting. Solana’s (SOL) leading meme coin, dogwifhat (WIF), is experiencing a significant surge recently. Everyone is asking: Why is WIF gaining value so rapidly? Let’s look at the developments.</p> 
<h2 style="text-align: justify" id="excitement-wave-in-the-cryptocurrency-world">Excitement Wave in the Cryptocurrency World</h2> 
<p style="text-align: justify">In the <a href="https://en.coin-turk.com/donald-trump-supports-cryptocurrency-sector/" data-wpel-link="internal">cryptocurrency </a><a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market</a>, everyone knows the leader of meme coins, <strong>Dogecoin</strong> (DOGE). It has a massive market value of 40 billion dollars and attracts attention with a daily trading volume of approximately 3.14 billion dollars. But the new stars introduced by Solana, especially dogwifhat (WIF) and Bonk (BONK), are creating another wave of excitement in the crypto world.</p> 
<p style="text-align: justify">According to <a href="https://newslinker.co/can-artificial-intelligence-achieve-consciousness/" target="_blank" rel="noopener" data-wpel-link="exclude">recent data</a>, the total market value of Solana-based meme coins has reached 6.4 billion dollars, with a daily trading volume hovering around 1.3 billion dollars. So what makes WIF so attractive?</p> 
<h2 style="text-align: justify" id="brazil-became-a-catalyst">Brazil Became a Catalyst</h2> 
<p style="text-align: justify">Two approved <strong>Solana</strong> ETFs in Brazil have further increased interest in SOL-based projects. Especially large whales did not miss this opportunity and started to increase their holdings of WIF. According to data provided by Lookonchain, the largest WIF holder possesses 27.2 million coins, which translates to a value of over 44 million dollars.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-382665 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/wif-1.png" alt="" width="655" height="751"></p> 
<p>&nbsp;</p> 
<p style="text-align: justify">The related whale has borrowed 3.24 million <strong>USDC</strong> using WIF as collateral in the last three days and used this money to buy more WIF. So, it looks like this is going to lead to even more exciting developments.</p> 
<h2 style="text-align: justify" id="the-last-5-months-value-loss-should-not-be-forgotten">The Last 5 Months’ Value Loss Should Not Be Forgotten</h2> 
<p style="text-align: justify">However, everything comes at a price. WIF has been losing value for the last five months, led by Bitcoin. But hope is not lost. Technical analyses indicate that WIF seems to have entered a turbulence during this five-month decline, but experts like Greeny believe this decline will soon give way to a significant rise.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-382646 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/wif.png" alt="" width="583" height="744"></p> 
<p style="text-align: justify">Currently, WIF needs to turn the 50-day moving average into a support level to avoid further declines in the coming days. The cryptocurrency market is always full of surprises. We will see together what will happen in WIF’s journey. But it is worth remembering: Big whales are involved, and they are after more <strong>WIF</strong>.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/solanas-meme-coin-ecosystem-thrives-with-dogwifhats-surge/" data-wpel-link="internal">Solana’s Meme Coin Ecosystem Thrives with Dogwifhat’s Surge</a></h5>
<p>The post <a href="https://en.coin-turk.com/solanas-meme-coin-ecosystem-thrives-with-dogwifhats-surge/" data-wpel-link="internal">Solana’s Meme Coin Ecosystem Thrives with Dogwifhat’s Surge</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Solana’s Meme Coin Ecosystem Thrives with Dogwifhat’s Surge

Table of Contents

COINTURK NEWS

Other articles published on Aug 23, 2024

Binance Labs Invests in Four BNB Chain Projects

Progmat, DMM partner to introduce stablecoin for Seamoon Protocol

Justin Sun Addresses Concerns Over 12,000 Bitcoin Withdrawal from USDD’s Collateral

Unlock Memecoin Mania with Klever Extension: Seamless Access to 60+ TRON Tokens

Massive 300,000 Ethereum Transfer Stuns Major US Exchange

Grayscale Unveils Avalanche (AVAX) Trust

Join our free newsletter for daily crypto updates!