Dogwifhat pumps over 30%, new ICO Dogecoin20 turns heads
Release: 2024/03/18 21:19 Reading: 364
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Dogwifhat continues to show strength, pumping 25% today and currently trading at $2.91. Meanwhile, the new ICO Dogecoin20 turned heads as its presale approaches $2 million in under four days.
Dogwifhat flirts with $3 as traders call next leg up
WIF has experienced a meteoric rise this month, soaring to 580% and surpassing a $2.9 billion market cap.
But after such a parabola, the token’s price experienced a retracement over the weekend, falling from $3.4 to a low of $2.19.
Yet, with bulls fiercely defending support around $2.2, the price has jumped to $2.91, illustrating that WIF still has notable market appeal.
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The recovery has drawn the attention of analysts, with many predicting the next leg up will occur shortly.
“WIF is sniffing out an ATH against BTC and against ETH. Therefore, a Bitcoin recovery equals a new WIF ATH pump,” predicted Doug Funnie.
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However, taking a longer-term outlook, the analyst anticipates WIF could reach highs of $10-$100 billion.
He cited that WIF is “leading the top 100 cryptos post market-wide dump.”
He then highlighted that Elon Musk recently tweeted an image of dogs wearing hats, adding to the project’s excitement.
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Prominent market analyst Bluntz also forecasts a bullish upcoming trajectory for Dogwifhat. He speculates that the recent pullback marks a “wave four” in an Elliot wave pattern and alludes to a “wave 5” that will follow, propelling WIF to a new ATH.
“I’m viewing this pullback as another wave 4 with one final all-time high leg-up yet to come.”
However, this also hints that Bluntz believes Dogwifhat’s run is ending, potentially followed by a consolidation or retracement phase.
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Another influencer at the center of Dogwifhat’s phenomenon, Blockgraze, is also apprehensive about the token’s future.
The analyst was an early WIF investor, making multi-millions from a $1K investment.
However, he recently announced he took profits amid the turbulence, citing concerns of a deeper drawdown.
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Ultimately, Dogwifhat’s outlook is bullish, but there remains a risk of a further retracement, particularly since it pumped over 500% this month.
Nevertheless, the meme coin market is rife with opportunity. One of the most promising emerging projects is Dogecoin20, a new ICO that has raised $1.8 million in four days.
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Stake-to-earn meme coin Dogecoin20 exceeds $1.8M
Dogecoin rose from an unassuming niche joke to a mainstream symbol of resistance against the exploitive malpractices of traditional finance.
Soaring to a $90 billion market cap, some of the world’s most influential financial players took note. However, its light-hearted inception meant there were dents in its armor. So this is where Dogecoin20 comes in.
Retaining the high-octane memetic allure of its predecessor, Dogecoin20 continues Dogecoin’s mission with newfound utility and innovation.
Retaining the high-octane memetic allure of its predecessor, Dogecoin20 continues Dogecoin’s mission with newfound utility and innovation.
Through its proprietary Stake-to-Earn mechanism, Dogecoin20 holders can earn passive investment rewards. The current APY is 415%, but this will decrease as more tokens are staked.
Another distinct advantage over Dogecoin is that $DOGE20 boasts a capped supply. This mimics the “sound money” philosophy popularized by Bitcoin, helping stave off inflation and price dilution.
Dogecoin20 is also an ERC-20 token, hence where the “20” comes from in its name. Launching on Ethereum provides widespread accessibility and its extensive ecosystem bolsters $DOGE20’s utility potential.
These factors have stoked unprecedented market excitement, with the presale raising over $1.8 million in four days. However, urgency is rising, with the presale price incrementally increasing throughout the campaign. The next uptick will occur when the total raise hits $1.849 million.
Read more: Dogecoin20 eyes growth as Pepe, Bonk face market downturn
Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
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