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The efficiency of Dogecoin and Shiba Inu within the final bull cycle has prompted a seek for their replacements on this cycle, and the likes of BONK and WIF proceed to play for positions. BONK gained over 1,000% in 2023 to succeed in a market cap of over $1 billion, paying homage to Dogecoin's 2020 rally. Simply as BONK is being touted as a possible substitute for DOGE, one other Solana-based meme coin, Dogwift (WIF), is placing in a efficiency that would qualify it as the subsequent Shiba Inu.
WIF Rating Robinhood Itemizing
WIF seems to be following an analogous path to Shiba Inu, though on a extra accelerated timeline. WIF, which had lagged for just a few weeks after launching on the Solana blockchain, launched into an incredible run that took its market cap from only a few million {dollars} to over $1 billion on the time of this writing.
The WIF group continues to push the identical meme coin as SHIB, taking a stab on the 'canine carrying a hat' meme. Rising assist has led to additional will increase in its value, and the newest developments have given the meme coin much more affect within the sector.
Robinhood, the buying and selling platform infamous for itemizing meme cash Dogecoin and Shiba Inu, lately introduced that it’s itemizing the WIF token. The announcement sparked a surge in costs that despatched WIF to new all-time highs after crossing the $1 mark.
Value trending at $0.94 | Supply: WIFUSD on Tradingview.com
Bonk Gunning for Dogeocene
The BONK meme coin has risen from obscurity to one of many greatest meme cash within the area. After surging by over 100% final week, its market cap has efficiently crossed $1.5 billion, making it the third-largest meme coin within the crypto market behind PEPE.
As BONK continues to develop in reputation, expectations for a transfer like Dogecoin are rising. Its value has already elevated by greater than 1,000% within the final yr, and that is even when the bullishness just isn’t in full swing. Provided that Dogecoin's market cap peaked at $80 billion in 2021, BONK, transferring ahead equally, may see its market cap attain $50 billion, which might be a rise of over 30x from right here.
One other meme coin that’s performing properly up to now is PEPE, which is up greater than 100% in per week. FLOKI is seeing a 78.1% achieve up to now week, whereas MAGA, the meme coin modeled after US presidential candidate Donald Trump, has surged 86.6% to surpass the $300 million market cap.
Featured picture from CoinMarketCap, chart from tradingview.com