What will a bull cycle look like for the top meme coins? Last year, meme coins dogwifhat ( WIF ) and Bonk ( BONK ) were two of the best performers. Recently, they have both plunged 20% as investors look for tokens with real utility.
Is WIF still one of the most popular meme coins?
Dogwifhat has proven to be one of the hottest meme tokens in the past 12 months, capturing the attention of the meme community. However, over the last week, the price of WIF has dropped by around 20%. This reflects a shift in sentiment in the space as investors begin to look for tokens with more utility.
The drop in WIF’s price reflects the volatility of meme coins and a shift in sentiment among traders seeking tokens with utility and better growth potential. Since WIF does not have any utility, many have become skeptical about the future of WIF.
Is BONK protected by Solana’s bullish growth potential?
BONK is the number one meme coin on the Solana blockchain and gained popularity last year as the coin with the highest ROI. This year has not been kind to it. Despite a recent 20% drop, BONK’s future looks more promising than most other top meme coins due to Solana’s brand and growth potential.
Solana’s strong performance could have a positive impact on the entire ecosystem. Therefore, BONK will not be affected as much as other meme coins that are gradually losing their appeal.
