New meme coin on Solana DogWifCat is up 2367% in 24 hours, the next BOME?

The newest meme coin on the Solana DogWifCat (DWIFC) network hit the market on March 20 at 17:00 (UTC) and rose 2367% to $0.01021. Wif-hat meme cryptocurrencies are quite popular in the market. However, DogWifCat wants to stand out from the pack in hats, so it carries a cat instead of a headgear. A distinctive approach is important in the world of meme coins, which is all about virality.

The DWIFC coin has reached a market capitalization of $18.5 million in two days and a trading volume of $44 million. “Whales” is rejoicing in the fact that liquidity is currently at $5.751 million, which means there are enough reserves for large transactions.

The total supply of DogWifCat tokens is 1 billion. The DWIFC asset address is wifhHP4nsNmhXJx9Rrq9NFiYShUTFAreM5LKHso5qXK. Moreover, as Dextools data shows, DogWifCat’s Siamese furry friend has amassed almost 4,000 coin holders in no time.

Have the whales switched from BONK, MYRO, BOME and SLERF to DWIFC?

Two decentralized cryptocurrency trading platforms are selling the DWIFC coin – Jupiter and Raydium. You can buy a new asset by exchanging SOL or another Solana-based token.

Mem-coin trading is not slowing down, but on the contrary, attracting the attention of large investors. One such “whale” invested $102,000 in DWIFC, as evidenced by the screenshot below from DogWifCat’s Telegram channel.

Of course, it’s hard to say for sure which meme altcoins will yield a high ROI (return on investment) during the current bull market. Nevertheless, industry insiders suggest that if whales are involved in the purchase of DWIFC, the coin probably has a promising future.

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DogWifCat (DWIFC) is the next BOME or, better yet, the next SLERF

Crypto trading increases as meme coins continue to enchant the market. One of the leaders in terms of growth has been the SLERF meme coin. The astounding price performance was facilitated by the pre-sale token burning event. This move by developers was the latest sign of meme coin craze until DogWifCat appeared.

SLERF investors may have simply taken a breather. However, the risk of investing in a coin whose momentum has passed is too great, especially when there are opportunities like DWIFC. So, while other assets have begun a downward trajectory, DWIFC can take its place in the sun. This coin doesn’t even need a hat to add another 2000% or more to the returns it has already registered for holders.

Another meme coin new to the Solana network is BOME, but after hitting the highs shortly after its debut, its value fell below its starting value. It’s a common occurrence when a new cryptocurrency in the meme coin niche records a parabolic rise and then an equally sharp decline. DogWifCat is on the radically opposite path as its price continues to increase with no signs of slowing down.

The bull market is just beginning, and meme coins are at the forefront. According to analysts, such assets, especially those developed on the Solana blockchain, are not going to disappear from the crypto scene anytime soon. For this reason, DogWifCat has a good chance of attracting more and more traders by barking and meowing at the same time. You can learn about new developments in the DogWifCat ecosystem via the project’s channels on X (former Twitter) and Telegram.

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Author: Saifedean Ammous, an expert in cryptocurrency economics.