WIF Crossed $2 Amid SHIB & DOGE's 5% Dip,
Meme Coins Buzz To Continue?
The meme coins have gained notable traction
lately, amid a price rally of the major players in
the segment, especially the Solana-based
dogwifhat (WIF). However, recent retreats in the
prices of top contenders like Shiba Inu (SHIB)
and Dogecoin (DOGE) have stirred speculation
about the sustainability of the meme coin frenzy.
While some view these setbacks as strategic
maneuvers by investors, others question if this
marks the beginning of a downturn for meme
coins.
dogwifhat (WIF) Crossed $2 Despite SHIB &
DOGE Dip.
The crypto market has been abuzz with
excitement over meme coins, with last week
seeing these tokens emerge as top gainers.
Despite the recent dip in prices of leading mer.
coins like SHIB and DOGE, market participants
remain optimistic about the meme coin
phenomenon. Analysts suggest that the retreat of
SHIB and DOGE could be a strategic move by
investors, redirecting attention towards other
meme coins.
This redirection is evident in the impressive rally
of lesser-known meme coins like dogwifhat
(WIF), which has surpassed the $2 milestone,
showcasing growing investor confidence.
Meanwhile, BitMEX Co-founder Arthur Hayes had
previously shown optimism for the crypto to
surpass the $2 mark.
Meanwhile, other meme coins like Pepe Coin
(PEPE) and Floki have also witnessed significant
price surges, indicating a broader enthusiasm for
meme coins in the market. Considering the mixed
performance, the traders are keepinga close
watch on the price actions in the meme coin
segment.
Despite the enthusiasm over WIF crossing the $2
mark, the retreat in Dogecoin and Shiba Inu
prices has raised eyebrows among market
analysts. Notably, some attribute the dip to
recent liquidation data, with significant sell-offs
recorded.
Dogecoin saw liquidations totaling $40.85 million
in the last 24 hours, while Shiba Inu noted
liquidations amounting to $26.28 million.
