The performances of Dogecoin and Shiba Inu within the final bull cycle have led to the hunt for his or her replacements on this cycle, and the likes of BONK and WIF proceed to make a play for the positions. BONK rallied greater than 1,000% in 2023 to succeed in a market cap of over $1 billion, paying homage to Dogecoin’s 2020 rally. As BONK swims to the fore as a attainable substitute for DOGE, one other Solana-based meme coin, dogwifhat (WIF) is placing on a efficiency that would qualify it as the following Shiba Inu.
WIF Scores Robinhood Itemizing
WIF appears to be following the identical path as Shiba Inu, though on a extra accelerated timeline. WIF, which had lagged for just a few weeks after its launch on the Solana blockchain, started a monster run that took its market cap from simply a few hundred thousand {dollars} to over $1 billion on the time of this writing.
The WIF neighborhood continues to push the meme coin in a similar way to SHIB, hammering on the ‘dog wearing a hat’ meme. This has pushed its value additional as help climbs, and the newest improvement has given the meme coin much more clout within the area.
Robinhood, a buying and selling platform notorious for itemizing meme cash Dogecoin and Shiba Inu, not too long ago introduced that it’s itemizing the WIF token. The announcement triggered a value surge 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 Dogeocin
The BONK meme coin has grown from obscurity to turning into one of many largest meme cash within the area. After rising greater than 100% within the final week, its market cap has efficiently crossed $1.5 billion, making it the third-largest meme coin within the crypto market forward of PEPE.
As BONK’s reputation continues to develop, expectations for a Dogecoin-like run are mounting. Its value is already up greater than 1,000% within the final yr, and that is with the bull not being in full swing. On condition that Dogecoin’s market cap went to $80 billion on the prime in 2021, BONK, happening the same run, might see its market cap hit $50 billion, which might be a greater than 30x enhance from right here.
One other meme coin that has been doing effectively thus far is PEPE, which can also be up over 100% in a single week. FLOKI is seeing positive factors of 78.1% within the final week, whereas MAGA, the meme coin modeled after US presidential candidate Donald Trump, is up 86.6% to cross $300 million market cap.
Featured picture from CoinMarketCap, chart from Tradingview.com
