Musk shouted, he shouted again!!!
I rushed, you guys are free to do whatever you want...
In a video that quickly went viral on X, Musk mentioned the newly launched Solana-based meme coin Dogwifhat (WIF). The casual remark, which was made during a live broadcast, caused a stir in the crypto community. Moreover, it drove the price of WIF up even amid the general market downturn.
Musk on Solana Meme Coin Dogwifhat
In the video, Musk nonchalantly stated that he "knows Dogwifhat." The statement caused speculation and excitement among millions of fans. Musk is well known for his influence in the cryptocurrency space, and his past endorsements, especially for Dogecoin (DOGE), have caused major market fluctuations.
Meanwhile, WIF was in the red before Musk's mention. The token, which taps into the popular dog-themed meme culture in the cryptocurrency space, saw an immediate price increase after the video went viral. This rally came despite the current general bearish trend in the cryptocurrency market, highlighting Musk's unparalleled influence.
After the video was released, WIF's trading volume rose sharply. In addition, new investors may come on board due to the perception that Musk will support it. The memecoin industry has historically been volatile, often driven by social media hype and support from well-known figures.
While the exact origins of wif and its long-term viability remain uncertain, the direct consequences of Musk's mention of it are obvious. The price surge is reminiscent of similar events in the past, when Musk's remarks led to a rapid increase in prices. However, as seen in past trends, WIF's price increase may be short-lived.
Today, the price of Dogwifhat surged 2.09% to $2.79. In addition, WIF's market value soared to $2.73 billion. Meanwhile, the trading volume of solana meme tokens jumped 3.08% to $392.88 million. In addition, the dog face meme token erased its weekly decline of more than 20%.
I am Lao Li, a fresh goods blogger
Again, I will continue to lay out this market
If you want to land, welcome to tease! ! ! !
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