Is It Too Late to Buy Dogwifhat (WIF)?
As the Solana blockchain’s latest meme coin success story, Dogwifhat (WIF) is continuing to rocket in price, and investors are asking “Is it too late to buy Dogwifhat?”
Dogwifhat (WIF) is a new spin on the Shiba Inu-themed meme coin, featuring a Shiba Inu wearing a hat.
Last trading around $0.75 per token, its market cap is around $750 million, according to CoinMarketCap.
That’s nearly 50% of the market cap of Solana blockchain’s first meme coin success, Bonk (BONK).
Considering WIF only launched in mid-December, that’s a stunning rise to prominence.
And most of this rise has come this week.
Despite pulling back 17% from earlier session highs in the $0.90 area, the WIF price is currently up over 110% this week.
Dogwifhat Alternative to Consider – Frogwifhat (FWIF)
Dog meme coins might be all the rage, but frog-themed Pepe Coin proved in 2023 that Frog meme coins also have a place.
That seems to be the motivation behind the creation of a recently launched coin called Frogwifhat (FWIF).
FWIF launched on Monday on Uniswap and immediately hit a market cap of $4 million within a few hours.
The fairly launched meme coin’s market cap has since subsided back to around $1.2 million.
That means investors who get in now stand a very good chance of securing 100x gains, assuming Frogwifhat catches on.
As per the frogwifhattoken.com website, FWIF appears designed to mirror the success of Dogwifcoin, Bonk, and Smog.
There are even rumors that the coins might share founders with other aforementioned meme coin success stories.
What Makes Frogwifhat (FWIF) Attractive?
Prospective buyers need to do their own research but there is much to like about the coin:
- Over $320k in liquidity has been locked. This is an important consideration for coins that list on DEXs.
- Locked liquidity means there is zero chance of a rug-pull, where the project team steals the funds of token holders.
- Forgwifhat was also fairly launched, meaning all 1 billion tokens were immediately available on the open market.
- No allocation of tokens for the development team or “marketing” purposes reduces the chances of a token dump.
Hot Take: Should You Buy Dogwifhat (WIF)?
As Dogwifhat (WIF) continues its impressive rally and sets its sights on $1 per token, you may be wondering if it’s too late to buy in. While there are no guarantees in the volatile world of meme coins, there are several factors to consider:
- Dogwifhat’s market cap is still under $1 billion, leaving room for potential growth.
- The success of previous meme coins like Dogecoin and Shiba Inu suggests that meme coins can reach market cap highs in the $10s of billions.
- The current bull market is showing signs of being even more explosive than before, which could benefit Dogwifhat.
Ultimately, the decision to invest in Dogwifhat (WIF) or any other meme coin is a personal one. It’s important to do your own research, assess your risk tolerance, and only invest what you can afford to lose in such speculative assets.
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