Dogwifhat (WIF) Trumps PEPE To Become Third-Largest Meme Coin, Can It Overtake SHIB?

Meme coin Dogwifhat (WIF) has been on an unstoppable value rally this yr with a majority of positive aspects attained simply during the last month. Earlier at this time, the Dogwifhat (WIF) value rallied all the best way to $4. As of press time, the WIF value is buying and selling 20% up at a value of $3.73 with a market cap of $3.742 billion. Additionally, the each day buying and selling volumes have surged by a staggering 53% all the best way nearer to 41 billion.

Dogwifhat (WIF) Turns into Third-Largest Meme Coin

With the Dogwifhat (WIF) price surge at this time, WIF’s market capitalization has reached a powerful $4 billion, elevating it to the place of the third-largest MEME token. This achievement locations WIF forward of PEPE and solidifies its place behind main MEME tokens comparable to DOGE and SHIB.

Of specific curiosity is the biggest holding deal with for WIF, recognized as 2Fcm…PE6d, which has seen exceptional income amounting to $134 million, reflecting a powerful enhance of 1440%. The holder initiated purchases of WIF again in December 2023, buying the token at a median value of $0.248. Regardless of these substantial positive aspects, indications recommend that promoting actions have but to begin, signaling continued bullish sentiment surrounding WIF.

Analysts expect that the Dogwifhat (WIF) value can contact over $10 billion within the subsequent few years giving it the standing of blue-chip meme coin.

WIF Liquidations, Governance, and Tokenomics

As per data from Coinglass, the latest WIF value rally to $4 has led to $2.09 million in liquidations of which $705.39K have been in lengthy liquidations whereas $1.39M have been in brief liquidations. Though the WIF value has retraced again partially from its all-time excessive of $4, the open curiosity stays up by 29% at $528.6 million.

One of many basic pillars of Dogwifhat lies in its tokenomics, which prioritizes decentralization and community-driven governance. With a capped provide of roughly 998.9 million tokens, referred to as WIF, the meme coin epitomizes a decentralized ecosystem the place contributors maintain sway over community governance. This method underscores a departure from centralized decision-making, inserting the facility to form the community’s course firmly within the palms of the neighborhood.

Though missing in sensible utility, the token’s worth stays buoyant owing to the speculative curiosity it attracts. The venture’s founders have unequivocally acknowledged their intention to chorus from token burning or implementing staking rewards. This stance reinforces Dogwifhat’s identification as a pure meme coin pushed solely by the engagement of its neighborhood members.