English
Arabic
Chinese (Simplified)
Indonesian
Russian
- Dogwifhat (WIF) surged over 40% final Sunday, coinciding with a submit by Elon Musk.
- Musk shared a photograph mimicking Dogwifhat’s emblem as a St. Patrick’s Day submit.
- WIF dragged different meme cash alongside, with SHIB surging 25% throughout the identical interval
Dogwifhat (WIF) surged over 40% final Sunday, coinciding with a submit by Elon Musk, proprietor of the social media platform X. The novel memecoin staged a restoration from the latest pullback, bouncing off help at $2.06 to succeed in $3.15 earlier than the shut of the day.
In a St. Patrick’s Day submit, Musk shared a photograph of three canine, every carrying a hat. The submit’s options resemble Dogwifhat’s emblem and outline, which is a “Canine With Hat.” The submit can also be in step with Musk’s oblique fashion of displaying help for memecoins.
In latest historical past, such posts by the X proprietor triggered parabolic rallies for the memecoins concerned. Probably the most distinguished included posts about Dogecoin over the past bull run that led to the memecoin’s astronomical rise to fame.
Musk’s St. Patrick’s Day submit triggered a restoration for WIF, with the meme coin regaining over two-thirds of its loss over the weekend. The transfer seems to reverse the market sentiment with a bullish candle, reflecting a possible reversal from the pullback, as seen on TradingView.
WIF’s restoration impact prolonged to another memecoins, although to a decrease extent. Dogecoin, Musk’s erstwhile most well-liked crypto, rebounded by 16%. The dog-themed meme coin rallied from $0.136 to $0.159 final Sunday. Equally, SHIB, the flagship memecoin of the Shiba Inu ecosystem, bounced from $0.00002424 to $0.00003022, reflecting a 25% rally throughout the identical interval, per TradingView information.
Musk posted solely the image containing three hat-wearing canine and didn’t observe up with any write-up. That didn’t shock crypto customers who’re already conversant in his fashion. It didn’t additionally generate the type of hype with related posts of previous years. Nevertheless, the latest surge might see WIF proceed the rally that pushed it up by 1,181% up to now six weeks.
Disclaimer: The data introduced on this article is for informational and academic functions solely. The article doesn’t represent monetary recommendation or recommendation of any variety. Coin Version isn’t chargeable for any losses incurred on account of the utilization of content material, merchandise, or providers talked about. Readers are suggested to train warning earlier than taking any motion associated to the corporate.