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 📢Recently, many friends have asked how to join the group, hoping to communicate and learn from NFT players, blockchain experts and digital artists, just click me [ID: MemeCrypto888]! There are also contact details at the end of the article😘 As the crypto bull market begins, is “Dogecoin” making a comeback? This week everyone’s attention is focused on the dog-themed MEME coin. In addition to traditional currencies such as Bitcoin and Ethereum, Dogecoin has also soared to new highs. The dogecoin space has seen stunning gains over the past week, with the dog-themed cryptocurrency clearly outperforming other market leaders. Which “Dogecoins” will be favored by buyers in this bull market in 2024? 1.Dogwifhat (WIF)  Dogwifhat (WIF) is a dog-themed commemorative coin on the Solana blockchain that has quickly become a cryptocurrency and has been endorsed by big names like Ansem and Hsaka. Its value surged 40,000% in just a few months, reaching a market capitalization of $1.5 billion, making it the third largest doge coin after Dogecoin and Shiba Inu. WIF's rapid growth highlights strong community support and speculative interest, driving the development of the meme coin market. WIF’s standout feature is its strong commitment to decentralization. By setting the creator’s balance to zero, it ensures that no single entity can control its destiny, a move that deepens trust and engagement in the community. Running on Solana's fast and efficient blockchain further enhances its appeal. This approach not only demystifies governance but also engages more people in the development of WIF, demonstrating a project where community input shapes the future in real time. Recently, the WIF token was listed on Robinhood Europe, which played a key role in this significant price increase. Robinhood Europe users can now trade WIF alongside established cryptocurrencies such as Cosmos, Polkadot and XRP. Robinhood’s endorsement has greatly increased people’s confidence in WIF. In addition, major cryptocurrency exchange Binance has also shown great interest in WIF and launched WIF futures trading with 50x leverage. As this trend continues, many are speculating that top exchanges like Coinbase may also list WIF. 2.Floki  Floki is a dog-themed meme coin. On June 25, 2021, Dogecoin founder Elon Musk published a tweet and quickly spread on the Internet. Subsequently, Floki was launched in September 2021. Elon announced on Twitter that he would name his pet dog "Floki." The founders used the viral tweet and the influence of Tesla’s founder and CEO to create a meme token. Like most meme coins, Floki was initially launched by anonymous developers who eventually abandoned the project to recoup their funds, leaving investors in the lurch. But these investors collaborated to relaunch the project, creating guidelines and a structure for project sustainment and investment protection. Floki is currently owned and managed by the community (via the DAO), with fundamental changes in governance decided through voting. Since its relaunch, the project has grown significantly. Floki is a multi-chain protocol launched as ERC-20 and BEP-20 tokens on the Ethereum and Binance Smart Chain networks. Each transaction (buy and sell) using FLOKI tokens is subject to a tax of 0.3% (previously 3%). The levy will be transferred to the Floki treasury and used for a variety of purposes such as project creation, raising awareness, developing collaborations, supporting charities and working with the Million Gardens Movement to protect the environment. FLOKI currently ranks 101st in CoinMarketCap, with a real-time market value of US$102 billion and a circulation of 9 trillion FLOKI tokens. It is worth noting that FLOKI’s historical highest price was $0.0003437 on November 4, 2021, which is 71.14% lower than the current price. The price of FLOKI soared by 40% after DWF Labs, a well-known digital asset market maker and Web3 investment company, announced that it would invest $10 million in FLOKI tokens to strengthen the FLOKI ecosystem. DWF Labs’ investment is to enhance FLOKI’s utility and market impact, allowing it to grow in a potential bull market. 3. Dogecoin (DOGE)  Dogecoin (DOGE) is a community-driven meme cryptocurrency that, like Bitcoin, is used as a medium of value exchange. Dogecoin is primarily used in tipping systems on Reddit and Twitter to reward people who create or share high-quality content. There is no upper limit on the supply of Dogecoin, and there is an annual inflation of 5 billion DOGE, which accounts for approximately 13% of its circulating supply. Nasdaq estimates that its inflation rate will fall to 2.4% by 2040, similar to the U.S. dollar's current inflation rate, and will continue to decline over time. The current price of Dogecoin is $0.145552, and the 24-hour trading volume has reached $4.65 billion, an increase of 37.10%. In the past day, the price of Dogecoin has increased by 22.35%. Currently, Dogecoin ranks 9th on CoinMarketCap, with a real-time market value of US$20.86 billion and a circulation of 143.3 billion DOGE coins. Although it is 80.27% lower than the all-time high of $0.7376 set on May 8, 2021, Dogecoin has performed very strongly in the past week, with the price rising by 70.79%, and the increase this year has reached 80.21%. Dogecoin’s recent price increase is mainly caused by several factors. First, Dogecoin attracted attention, with two large DOGE whales trading a combined volume of over 270 million DOGE, sparking global interest and fueling the bullish sentiment. This accumulation boom was particularly noticeable on Robinhood, causing the price of Dogecoin to surge by 29.27%. Derivatives data also supported the upward trend, pointing to reduced supply and rising prices, signaling bullish sentiment. The rise is in stark contrast to Dogecoin’s previous lackluster performance, which could hint at renewed interest and potential gains. Speculations about a Dogecoin-Ferrari partnership further fueled the excitement, while Bitcoin’s move above $60,000 may have also led to a rally across the market. 4.Bonk (BONK)  Bonk (BONK) is a Solana-based dog-themed meme coin that was launched in December 2022 to support and revitalize the struggling Solana community. As a dog-themed token similar to DOGE and SHIB, BONK positions itself as a social token focused on community participation through BonkDAO. Developers envision BONK becoming the primary token facilitating DeFi and NFT transactions on the Solana network. According to the official introduction, Bonk issued a total of 100 trillion BONK tokens, and 50% of the tokens were airdropped to the Solana community, including developers of LamportDAO (LamportDAO is the center of Solana builders), holders of NFT projects such as Famous Fox Federation, and even airdrop targets include DeGods who have previously announced their migration to other chains. Currently, the price of Bonk is US$0.0000261, and the trading volume within 24 hours is US$774.15M, a slight decrease of 5.88% from the previous day. Although the price dropped today, Bonk's price has increased by 23.4% in the past 24 hours. Now, on CoinMarketCap, Bonk ranks 58th, with a market value of US$1.74 billion and 65.19 trillion Bonk coins in circulation. Bonk's historical high price was $0.00003419 reached on December 15, 2023, which was a 23.48% drop from the current price. Although the price has fallen, the value of Bonk has still increased a lot. In the past week, the price of Bonk has increased by 130.3%. So far this year, the price of Bonk has increased by 24,251%. Bonk’s price increase is part of a broader trend of meme-based cryptocurrencies, driven by internet memes and culture. Market momentum, including the recent surge in Bitcoin prices, has also fueled Bonk's gains. Bonk’s price has increased by more than 85% in the past week and 90% in a month. Moreover, Bonk’s popularity on social media has also increased by 300%, which shows that the community’s interest in Bonk is also growing. Although the price has increased, Bonk's major investors have not yet spent a large amount of money to sell, which also shows that they are still very confident in Bonk's long-term potential. 5. Shiba Inu (SHIB)  Shiba Inu Coin (SHIB) is a meme-based cryptocurrency created in 2020 by an anonymous individual named Ryoshi. It is inspired by Dogecoin and uses the Japanese Shiba Inu as its form. It is a cryptocurrency project based on a decentralized community and is known as the "Dogecoin Killer". SHIB issued ERC-20 tokens on the Ethereum chain with a circulation of 1,000 trillion, of which 50% were locked in the DEX platform Uniswap to create liquidity, while the remaining 50% was given to Vitalik Buterin, the founder of Ethereum. What is unexpected is that Buterin destroyed 90% of it and donated the remaining 10% to India to fight against COVID-19. Ultimately, the supply of SHIB will be 600 trillion. The current price of Shiba Inu (SHIB) is $0.000022, and the 24-hour trading volume has reached an astonishing $5.35 billion, an increase of an astonishing 280.06%. In the past day, the price of Shiba Inu increased by 73%, becoming the 11th place on CoinMarketCap, with a market value of US$13 billion. The circulating supply of Shiba Inu tokens is 589.3 billion. Although the current price is 75.03% lower than the all-time high of $0.00008845 set on October 28, 2021, the Shiba Inu's performance is still strong, with an increase of 135.45% this week, and a year-to-date increase of 88.42%. The surge in the number of Shiba Inu dogs is largely due to the surge in the token destruction rate. This week, Shiba Inu’s destruction rate fluctuated greatly, from an increase of 30,000% to zero, but this did not cool investors’ enthusiasm. The success of the SHIB token burning plan, which has removed 410 trillion tokens from active circulation, is considered a key factor in enhancing its market position and value, especially in a bull market. This price surge coincided with Bitcoin’s pre-halving rebound, which once reached $64,000. in conclusion The element of dog has always been close to crypto users, and in the last bull market, two big dogs, DOGE and SHIB, have been successfully launched. Although the price fell to the bottom during the bear market, fortunately, the community and development are still in operation. Nowadays, many new members have been added to the Dogecoin family. Whether it is pure MEME mode or product development, the dog element has received great attention in the rise of Bitcoin. The value-added of fixed circulation and the rise of 0x consumption system, no matter which one it is, it seems that the corresponding group of people can be found. Perhaps more people are treading two boats. Stable income and unexpected surprises are different experiences that encryption brings to users. 『Statement: According to the "Notice on Further Preventing and Dealing with Speculation Risks in Virtual Currency Transactions" issued by the central bank and other departments, the content of this article is only for information sharing and does not promote or endorse any business or investment activities. Readers are requested to strictly abide by the laws and regulations of their region and not participate in any illegal financial activities.』  |
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