Elon Musk mentions the Solana Meme Coin for the first time
Even though his first attempt at pronunciation failed, Elon Musk made clear his familiarity with the meme token Dogwifhat, which debuted on the Solana network. In the live broadcast, he referred to it as "Dog-WiFi-hat", an episode that also revealed that even the leading figures in the technology industry find it difficult to resist the unique charm of crypto meme culture.
A few months ago, Dogwifhat became one of the most popular emojis with its humorous brand image, and its token symbol WIF quickly won the favor of the market. However, similar to the fate of many meme tokens, Dogwifhat has also suffered a decline in value and attention recently.
However, Musk's recent comments have once again pushed Dogwifhat to the forefront, attracting widespread attention from the market. However, it is worth noting that this volatility did not trigger signs of investors blindly following the trend due to FOMO (fear of missing out), showing that the market is gradually becoming rational.
The trading chart of Bitcoin/USD is clearly visible on TradingView, reflecting the dynamic changes in the market. Musk’s influence on the cryptocurrency market is self-evident, and his previous tweets and comments on assets such as Dogecoin and Bitcoin have triggered price surges.
Although Musk incorporates humorous elements into his endorsements, investors are always quick to capture the signals and react. It is worth mentioning that he has previously focused on meme token giants such as Dogecoin and Shiba Inu Coin, while emerging tokens such as Dogwifhat are rarely mentioned.
But it is worth noting that the volatility of meme tokens is their inherent characteristic, and they often experience sharp fluctuations in value due to speculative trading and social media hype. Currently, the Solana network is facing challenges. Its meme token industry is mainly driven by tokens issued by celebrities such as Iggy Azalea, but the profitability of these tokens cannot yet be comparable to mainstream digital assets such as Bitcoin or Ethereum. For investors, it is particularly important to remain rational and calm when facing these risks.
Pay attention to view the top, bull market strategy layout, share various passwords, just to increase fans, don’t be a runner-up in the bull market, just be the winner of the bull market!