New Solana Meme Coin DogWifCat Explodes 2,900% in 24 Hours, Next $BOME?
DogWifCat is the newest Solana-based meme coin launched on Wednesday, March 20th, at 17:00 UTC. It went live on the Jupiter exchange without a presale event and gained over 2,900% in the first 24 hours! The latest meme coin release triggered a massive price surge, following other Solana-based memes such as $SMOG, $BOME, and $SLERF in the past few weeks.
Together, these memes show that Solana-based platforms are among the highest-gainers in the crypto space, and DogWifCat is the newest Wif-hat" meme with massive potential. $DWIFC came out of nowhere, reaching a market cap of over $12.7 million in less than a day and a liquidity pool of over $4.87 million. The $DWIFC token is now attracting traders worldwide and is nearing 2,000 token holders.
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$DWIFC is now available for purchase on Jupiter and Raydium decentralized exchanges. Traders can get them by exchanging SOL or Solana-based tokens. Solana is now becoming the go-to platform for new meme coin releases, and the recent success of projects such as $BONK, $MYRO, $BOME, $SMOG, and $SLERF helped push the value of SOL tokens to $200.
$DWIFC is gaining support from crypto thousands of investors, including some crypto whales, showing that the trust in the new meme coin is growing every second. The unique dog-cat mashup exploded as soon as it went live, and according to the official website, the term - Much coin, such meme, add cat. DogWifCat = so investment." is proving to be true.
Crypto whales are also buying $DWIFC tokens, and if they are willing to invest in a cryptocurrency, it's most likely going to result in a high ROI. For example, according to the official Telegram channel, one such whale has bought over $102,000 worth of DWIFC, proving that the platform is gaining significant momentum and is likely to become the next leading Solana-based meme coin.
Could DogWifCat ($DWIFC) Become the Next $SLERF?According to the current situation, $DWIFC could keep gaining traction and achieving success in a similar way to $BOME and other Solana-based memes in the past few weeks. Moreover, it could explode as much as $SLERF did, surpassing a market cap of over $400 million in the next few weeks.
If it continues growing at the rate it has during the first 24 hours, there's no telling where $DWIFC could end up in the next few weeks. For example, $SLERF made the highest gains only after the developer sent the presale tokens to a burning address, which triggered a meme coin frenzy that lasted until DogWifCat went live. Investor's focus turned to the newest Solana-based meme immediately, reducing $ SLERF's daily trading volume along the way.
However, considering that $SLERF broke the $2.7 billion trading volume earlier this week, $DWIFC still has a long way to go. Moreover, $ SLERF's impressive trading volume surpassed the entire Ethereum ecosystem, which is no easy feat. Many experts thought that Solana would crash during 2024, calling it the Sam coin' as it was backed mainly by the companies associated with the FTX exchange and its founder, Sam Bankman-Fried. Solana lost most of its value following the FTX scandal, but it proved way more resilient and sustainable than many thought.
It turns out that FTX's main creditors are now buying Solana tokens instead of trying to get rid of them along with FTX accounts. The change in sentiment is sending massive shockwaves throughout the crypto markets, resulting in a massive bull run for Solana and its altcoins. SOL tokens are now up by 700% in the past 12 months and over 75% in the past month alone.
On the other hand, $SLERF tokens are selling for only $0.75, which is over 30% below their all-time highs of $0.96 just a few days ago.
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$SLERF Losing Ground While $DWIFC Gains MomentumIt could be that $SLERF is just taking a little break, but it's becoming increasingly risky as time goes by. On the other hand, the newest meme coin, $DWIFC, is at the beginning of its journey, and if it gains enough support, it could result in significant gains in the next few weeks. However, always remember that investing in cryptocurrencies is a risky venture, so there are no guarantees that you will get higher returns.
$BOME tokens also made some impressive gains but are losing value only days after reaching the market. DogWifCat's approach is slightly different, so it can keep gaining value and support from traders worldwide. It might be a simple dog wif a cat," but it's also the most popular meme coin on the market in the past 48 hours. Meme coins are leading this year's crypto bull market, with Solana-based memes at the forefront of the fast-expanding crypto sector.
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Final Words - Solana Memes Reshaping Meme Coin MarketsMeme coin markets are changing, and Solana memes are now taking the focus off well-established Ethereum memes that dominated the markets for over a decade. DogWifCat is the latest addition to the markets and the platform that bites twice, so investing early will likely give you some of the highest gains in the meme coin sector in the next few weeks.
It's an excellent short-term investment option, but it could also turn out to be a high-gain long-term investment. However, it would be best if you always did your own research before investing, as crypto markets are highly volatile, so there's always some risk involved.
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