Investor Frenzy: Solana-Based Meme Coins Outshine Dogecoin and Shiba Inu
Dog Outperformed by Bonk and Wif in Gains, Despite Bitcoin's Growth
In the unpredictable world of cryptocurrencies, Solana-based meme coins BONK and Dogwifhat (WIF) have emerged as shocking winners, outperforming their well-established counterparts like Dogecoin (DOGE) and Shiba Inu (SHIB) in recent market upswings.
WIF-ning the Game
In the past 24 hours, BONK has seen a stellar 11% surge, while Dogwifhat (WIF) has taken the cake, skyrocketing approximately 22%! Although Dogecoin (DOGE) and Shiba Inu (SHIB) are also posting impressive gains, their performance pales in comparison to WIF and BONK. As of reporting, DOGE has added 4.94%, while SHIB has seen a 7.27% increase.
Weekly Leaderboard
When it comes to weekly performance, WIF and BONK remain dominant, with WIF achieving a staggering 58% gain and BONK hitting 32%. In contrast, Shiba Inu and Dogecoin have both registered a 17% increase.
Cardano, SHIB Top Brass, and Bitcoin
Meanwhile, Cardano (ADA) remains at a crossroads, with potential key levels in play. Shiba Inu’s top exec addresses critics and supporters, stating "We're Not Done." Bitcoin’s imminent second skyrocketing and Solana's potential to finally break its bear trend is being hotly debated, with XRP struggling to keep up.
A new SEC Chair has expressed the need for clear regulations in the crypto space, and market optimism reigns supreme as Bitcoin trades at a 40% discount based on a specific BTC indicator.
Prices and Trading
At press time, WIF and BONK are trading at $0.638 and $0.00001583, respectively. Shiba Inu and Dogecoin exchange hands for $0.000014 and $0.181.
Market Revival
After weeks of lull and low liquidity, the market has finally responded to a wider macro catalyst, with both equities and cryptocurrencies climbing higher.
Technical Advantages and Breakouts
Both BONK and WIF have experienced a string of bullish technical breakouts, boosted by market momentum. Social media hype has also played a significant role in attracting new investors to BONK. Additionally, the recent launch of other Solana-based meme coins has sparked renewed interest in the ecosystem, underlining Solana's scalability and speed advantages over Ethereum-based meme coins like Dogecoin and Shiba Inu.
[1] Source: TradingView, CoinMarketCap, CryptoMarkets[2] Source: U.Today[3] Source: NewsBTC[4] Source: CryptoPotato, CoinCodex
- Despite the unparalleled success of Dogecoin (DOGE) and Shiba Inu (SHIB), Solana-based meme coins BONK and Dogwifhat (WIF) have outperformed them in recent market upswings, with WIF skyrocketing approximately 22% and BONK seeing a 11% surge in the past 24 hours.
- In the week, WIF has achieved a staggering 58% gain, while BONK has hit 32%, outperforming Shiba Inu's 17% increase and Dogecoin's 4.94%.
- The crypto market, including equities, has seen a revival after weeks of low liquidity, likely due to a broader macro catalyst.
- BONK and WIF have experienced a string of bullish technical breakouts, boosted by market momentum and social media hype, attracting new investors to BONK.
- The recent launch of other Solana-based meme coins has sparked renewed interest in the ecosystem, underlining Solana's scalability and speed advantages over Ethereum-based meme coins like Dogecoin and Shiba Inu.
- As of reporting, and based on specific indicators, Bitcoin trades at a 40% discount in the broader finance sector, with trading for WIF and BONK taking place at $0.638 and $0.00001583, respectively, and Shiba Inu and Dogecoin exchanging hands for $0.000014 and $0.181.
