Crypto whales have helped popular Solana coin DogWifHat ($WIF) to close in on a three-month high in spite of a bearish meme coin market today.
Meme coin markets contracted 10% today and now command a collective market cap of $50.6 billion.
Many of the leading projects are keeping pace, with the $16 billion sector leader Dogecoin ($DOGE) and its $10 billion rival Shiba Inu ($SHIB) both dropping 8% in the last 24 hours down to $0.1101 and $0.00001695 respectively.
By contrast, Bitcoin ($BTC), the trillion-dollar original cryptocurrency, holds the fort with a gentler 1.5% drop in the last 24 hours to set a price around $62,676.
Dogwifhat Price Analysis – Where is WIF Heading Next?
DogWifHat’s descent in the last 24 hours has mirrored that of Solana’s $SOL coin. Both dropped 3.7% in the last 24 hours with $WIF now commanding a price of $2.35.
While that alone doesn’t suggest great performance, $WIF has advanced 52.5% in the last fortnight, which is eye-popping next to Dogecoin’s measly 8.5% climb over the period.
Now DogWifHat is closing in on a three-month high, as shown by the red line below; the coin has strong support at $1.50 and is likely to weather any crash, if that’s what today’s falling prices are heralding.
A relative strength index (RSI) of 40 and falling means DogWifHat is close to being oversold.
This is actually an indicator that things could turn around quickly for the token and prices are likely to climb again before the weekend.
From DogWifHat To a New Kind of Meme Coin: Flockerz
DogWifHat may be a part of the meme coin establishment, but unlike virtually any of its other canine companions, it has no discernible utility.
The days of just-for-laughs meme coins like DogWifHat may be over soon, with several new projects bringing surprising new earning potential to the concept.
Flockerz ($FLOCK) is a one such meme coin. Its presale launched this month and rapidly raised $335,000.
Touting itself as “The People’s Meme Coin”, Flockerz offers crypto fans a vote-to-earn meme coin with unrivaled staking rewards and community-building.
So, what is “vote-to-earn” and how does it work? Flockerz holders (aka “The $FLOCK”) are all members of a decentralized autonomous organization (DAO) called Flocktopia.
Flocktopia is where members of The Flock can draft and vote on governance and improvement proposals to ensure that all important decisions are by community consensus and not a centralized authority.
By rewarding voters with $FLOCK, Flockerz incentivizes frequent active engagement with the community and aligns everyone’s interests towards making the project a success.
The more you participate, the greater the rewards, making for a potentially more loyal meme coin community than DogWifHat.
Some 25% of the project’s 12 billion $FLOCK tokens are set aside for staking, with the protocol offering stakers eye watering yield of 7,401% on the tokens they lock up over a two-year staking period.
Flockerz is a transparent and fully audited project.
That’s why Coinsult audited its smart contract, to give investors peace of mind.
Beyond the presale, Flockerz is eyeing up listings on both centralized and decentralized exchanges (CEXs and DEXs) to join DogWIfHat as a global meme coin. The vote-to-earn mechanism will launch after listings.
Hold on, because this $FLOCK is taking off!
Join now. Follow Flockerz on X and Telegram.
Visit the Flockerz Presale Website For More Information
The post Crypto Whales Buy dogwifhat During The Dip And This New Meme Coin appeared first on Cryptonews.
