$WIF is still the second best performing top five meme coin over the week
DogWifHat ($WIF), a well-known Solana meme coin, has plummeted below $1.70 in value after losing 12% of its value in the previous day amid a broader market selloff.
Considering the 7% price increase over the previous seven days, things are not so bad for $WIF holders. This makes $WIF the second best performing top five meme coin over the week, after fellow Shiba Inu-themed coin Floki ($FLOKI), which added a staggering 23.4% over the week to trade at $0.0001535.
Market leaders Ethereum ($ETH) and Bitcoin ($BTC) have both decreased in value from a day ago. Bitcoin shed 2.2% while Ethereum lost 4.2%. The former grew 3.2% in the last seven days, while the latter shed just less than a percent.
The most popular cryptocurrency in the world, $BTC, is currently trading at $62,413, while the $ETH token, which powers the most significant blockchain from a commercial standpoint, is trading at $2,622.
For meme coin holders, it was a long night overall. The largest non-doge meme coin, Pepe ($PEPE), fell 7.7% to $0.00000824, while Dogecoin ($DOGE) lost 3.2% to trade at $0.104.
The meme coin is shown to be lingering above the psychologically significant $1.50 support level that it upheld in June and July, according to DogWifHat’s price chart.
The diagonal green line indicates that overall support appears to have been dragged down by the market crash in early August.
Given that $WIF has an RSI of 27, which indicates that it is currently oversold, its price is probably going to stabilize into tomorrow as the selling slows down.
Investors Turn To Base Dawgz, The Multi-Chain Shiba Inu, As The $WIF Price Drops
These days, DogWifHat’s future is strongly linked to the “Big Five” doge-themed coins: Bonk, Floki, Dogecoin, Shiba Inu, and DogWifHat.
The new cross-chain meme coin Base Dawgz ($DAWGZ) is a great way for meme coin enthusiasts to diversify their holdings and potentially explore some headier upside.
Doge Dawgz is a Doge meme coin similar to Dogecoin. Its main kennel is on Coinbase’s Ethereum Layer 2 called Base, but it can also be used with Ethereum, Solana, BNB Chain, Avalanche, and Polygon.
Unlike DogWifHat, which is a more generic coin that investors hold primarily to take advantage of possible price increases, this makes it a multi-chain coin with intriguing potential.
When $DAWGz launched on June 4, investors flocked to grab a multi-chain meme coin with staking and share-to-earn features, raising over $200,000 in just a few minutes. It has raised more than $3 million so far.
What, though, is share-to-earn? Put simply, the share-to-earn mechanism of the token, which rewards users with points for sharing $DAWGZ-related content on social media, places community members at the center of Base Dawgz’s clever marketing approach.
This incentivizes a more loyal meme coin community than $WIF.
On the presale page, Base Dawgz also promises tantalizing staking rewards of 775%.
Buy in now to catch this potential stratospheric new meme coin at a fixed pre-launch price of $0.0081733.
Purchasing is easy and safe with a variety of purchase options, including well-known stablecoins like USDT and USDC.
However, just a day remains to purchase the token before it rises to the next fixed presale price.
This implies that investors should act quickly to secure first-mover advantage in a meme coin that has the potential to rise in value and displace DogWifHat.