Bitcoin (BTC) and some top coins are not the only ones impressing in this bullish wave, some of the most notable performers are memecoins. Although SHIB and DOGE, two of the most popular memecoins have impressed, they have fallen short of the less popular PEPE, FLOKI, and WIF. PEPE and WIF in particular have established new all-time highs in recent days.
Solana’s Dogwifhat (WIF) successfully breached the $3 mark this week. PEPE, on the other hand, erased a zero to trade above $0.00001 for the first time. These impressive performances have coincided with the Bitcoin (BTC) rally that saw the token reach $73,600, an all-time high for the world’s largest cryptocurrency.
Since impressing earlier in the week, PEPE has suffered a massive correction, losing nearly 15% in the last 24 hours. Solana’s WIF has suffered a similar fate, losing a little over 15% in the last 24 hours. Similarly, FLOKI has lost around 13% during the weekend. This performance comes from massive deposits of these tokens on crypto exchanges. This is a sell-off signal that could have caused a massive downturn in prices.
However, investors and experts expect the memecoins to continue on an upward trajectory in the long term. For starters, compared to DOGE and SHIB, these tokens are not listed on as many crypto exchanges as their superiors.
Crypto analyst Mathew Hyland has highlighted the potential of PEPE if it were exposed to Coinbase, which is largely made up of Americans.
The analyst has further pointed out that the token is witnessing massive consolidation on its way up. The analyst further makes a bold prediction that PEPE will eventually flip SHIB, DOGE, or both.
For FLOKI, there have been some notable developments, beginning with the team working to break out from the memecoin status, similar to Shiba Inu. The team has recently revealed that it will be releasing a roadmap next week. This could offer insights into the specific plans and steps for the future of the project.
WIF, on the other hand, has celebrated a major milestone that could usher in a new wave of investors. The Solana blockchain’s meme coin, dogwifhat (WIF), is set to feature its Shiba Inu mascot wearing a pink beanie at Las Vegas’s Sphere venue. Community donations surpassed the $650,000 target, raising over $690,000 in USDC stablecoin within four days. Ansem, a campaign leader, announced the achievement on an X post, confirming full funding for the project.
Memecoins have emerged as critical assets for driving adoption and ushering new investors into the cryptocurrency market. Furthermore, some can build and bring real-world applications.
