Dogecoin vs. WIF – How the memecoin rose 16% to dominate
In the cryptocurrency arena, the competition between Dogecoin (DOGE) and WIF has attracted much attention. Recently, Dogecoin has risen strongly with a rise of about 16%, striving to dominate the memecoin field.
Once, in the "super cycle" dominated by memecoins, Dogecoin faced fierce challenges from WIF. WIF once led with high daily gains in the earlier rebound, but now Dogecoin has successfully reversed. Its weekly increase is twice that of WIF, and a large amount of liquidity has been attracted, and Dogecoin has regained its position as the largest memecoin by market value.
In terms of price performance, Dogecoin has continued to rise daily in the past week, with a value of nearly $0.130, echoing Bitcoin's 10% increase this week, further consolidating its leading position among high-cap memecoins in the bullish cycle.
Trading data also shows investors' strong interest in Dogecoin. The number of Dogecoin transactions exceeding $100,000 reached a local high, and retail investors have participated in it. Spot traders adopt an accumulation strategy when Dogecoin falls, which is similar to the operation of WIF, but when WIF approaches $3, traders enter the distribution phase.
However, the development of Dogecoin is not without risk. If Bitcoin falls below $67, it may trigger panic selling of Dogecoin, and the price may move towards the support level of $0.12. If fear escalates, it may even fall back to below $0.11.
The current market cycle has changed the landscape of memecoins. Although Dogecoin attracts a lot of liquidity, there are still obstacles to overcome. In the future, whether Dogecoin can continue to dominate the memecoin field, let us wait and see.
