After pumping 70% this month, Dogwifhat is once again proving itself as one of the hottest meme coins.
However, traders want to know if there is still room for growth or if there are better investments on the market.
Many have turned to low-cap alternatives to replicate Dogwifhat’s growth. One project showing a lot of potential is Flockerz, which has raised over $700K in its presale.
Prominent Trader Says Dogwifhat to Hit $3.2 This Week, Rotates SOL Into WIF
There is a significantly bullish sentiment behind Dogwifhat.
As Solana’s largest meme coin, WIF is primed to attract the lion’s share of liquidity inflows to the blockchain’s ecosystem.
WIF represents a less risky, minimal-research-required investment for new investors compared to other ecosystem meme coins.
And for whales, WIF’s high liquidity means they can easily take big trades without causing too much price impact. This is crucial for whales since it allows them to enter and exit positions as they please.
Something else to consider is the size of WIF compared to Ethereum’s most valuable meme coin, Shiba Inu.
Currently, WIF holds a $2.7 billion market cap, while SHIB is worth $10 billion.
Despite this, Solana reportedly has over 10x the daily active users of Ethereum.
According to Token Terminal data, Solana had 5.5 million daily active users yesterday, while Ethereum had 359K.
The primary utility of meme coins is being a part of a community. As such, it would make sense for the market cap to represent community size.
So, considering the stronger user base on Solana, we could theorize that WIF’s value should at least match SHIB’s.
Conversely, Ethereum has much deeper liquidity than Solana, but this seems to even out with Solana’s more active user base.
In terms of price action, WIF looks primed for gains.
Prominent trader Mac says it will hit $3.2 this week, revealing that he swapped most of his SOL for WIF.
Meanwhile, Nico looks further ahead, targeting $3.6 and $4.2.
And with analysts expecting approximately 12 months of a crypto bull market ahead, Dogwifhat’s long-term growth could vastly outweigh these short-term targets.
In summary, it’s not too late to buy WIF. However, there may be other meme coins that perform better.
Can New Meme Coin Flockerz Outpace Dogwifhat In the Crypto Bull Run?
As one of the most valuable meme coins, Dogwfihat’s upside is capped due to the higher amounts of liquidity it takes to move its price.
In comparison, the new meme coin First Neiro On Ethereum soared over 5,000% this month, underlining the benefit of investing in meme coins early. Looking ahead, one project that traders are betting could explode next is Flockerz.
It’s no ordinary meme coin – Flockerz is building the industry’s first Vote-to-Earn decentralized autonomous organization (DAO).
Picture this: a meme coin where you (the holders) shape every aspect of its future, ranging from decisions on marketing strategies to managing the project’s treasury. That’s what Flockerz is creating.
And it gets better. Users will also get paid to vote in the DAO.
It puts the power in the community’s hands and aligns their incentives with the project’s success.
As mentioned, the primary utility of meme coins is access to a community – Flockerz takes this to new heights.
It has got analysts buzzing, with ClayBro recently telling investors to “prepare for gains.”
But traders don’t need to wait for the price to go up.
They can also stake their tokens and earn passive rewards. Currently, staking rewards are valued at 2,549% APY, but this will decrease over time.