As the Solana blockchain’s latest meme coin success story, Dogwifhat (WIF) is continuing to rocket in price, and investors are asking “Is it too late to buy Dogwifhat?”.
Dogwifhat (WIF) is a new spin on the Shiba Inu-themed meme coin, featuring a Shiba Inu wearing a hat.
Last trading around $0.75 per token, its market cap is around $750 million, according to CoinMarketCap.
That’s nearly 50% of the market cap of Solana blockchain’s first meme coin success, Bonk (BONK).
Considering WIF only launched in mid-December, that’s a stunning rise to prominence.
And most of this rise has come this week.
Despite pulling back 17% from earlier session highs in the $0.90 area, the WIF price is currently up over 110% this week.
Is It Too Late to Buy Dogwifhat (WIF)?
As WIF sets its sights on $1 per token, some will naturally be worried that it might be too late to buy Dogwifhat.
But at a market cap of still well under $1 billion, this meme coin potentially has a lot of room to rally.
Dogecoin and Shiba Inu, after all, managed to hit market cap highs in the $10s of billions in 2021.
And this bull market has all the makings of being even more explosive.
Dogwifhat could yet post 10x gains from current levels.
But for risk-tolerant investors hoping for a better chance of securing 10x gains, there is another token on the horizon.
Dogwifhat Alternative to Consider – Frogwifhat (FWIF)
Dog meme coins might be all the rage, but frog-themed Pepe Coin proved in 2023 that Frog meme coins also have a place.
That seems to be the motivation behind the creation of a recently launched coin called Frogwifhat (FWIF).
FWIF launched on Monday on Uniswap and immediately hit a market cap of $4 million within a few hours.
🚀 $FWIF is now live on #CoinGecko!
Check it out below 👇💚https://t.co/y5VaxzjAno
Le frogolution continues! 🐸🎩🥖#FrogWifHat #MemeCoin #Crypto #AltSeason pic.twitter.com/Jj7fBlMBvT
— Frogwifhat (@Frogwifhat_coin) February 29, 2024
The fairly launched meme coin’s market cap has since subsided back to around $1.2 million.
That means investors who get in now stand a very good chance of securing 100x gains, assuming Frogwifhat catches on.
As per the frogwifhattoken.com website, FWIF appears designed to mirror the success of Dogwifcoin, Bonk, and Smog.
There are even rumors that the coins might share founders with other aforementioned meme coin success stories.
B A G U E T T E 🥖$FWIF pic.twitter.com/ONDAV6X72M
— Frogwifhat (@Frogwifhat_coin) February 27, 2024
Prospective buyers need to do their own research but there is much to like about the coin.
For starters, over $320k in liquidity has been locked. This is an important consideration for coins that list on DEXs.
Locked liquidity means there is zero chance of a rug-pull, where the project team steals the funds of token holders.
Forgwifhat was also fairly launched, meaning all 1 billion tokens were immediately available on the open market.
No allocation of tokens for the development team or “marketing” purposes reduces the chances of a token dump.
