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The Dogwifhat price skyrocketed 55% in the last 24 hours to trade for $0.30680 as of 2:00 a.m. EST time, with trading volume rising 4%.
The cute dog-themed token has surged 194% over the past month, catapulting WIF to the fifth-largest position in the meme coin sector by market capitalization. Its market cap now stands at $296 million, enabling it to ease ahead of FLOKI (FLOKI) with $293 million and Memecoin (MEME) with $250 million.
The Solana-based meme coin continues to thrive despite broader market gloom and has featured among the chain’s biggest gainers.
Top 10 Token Gainers on Solana
1.) Ada (+460.58%)
2.) Solama (+346.58%)
3.) Rocky (+165.09%)
4.) Anita Max Wynn (+113.15%)
5.) Eggdog (+64.29%)
6.) sols (+64.14%)
7.) Solend (+56.29%)
8.) upsidedowncat (+50.4%)
9.) BOZO (+42.7%)
10.) dogwifhat (+42.24%)
Source: Phantom… pic.twitter.com/kX5TdIVtzV
— ACS Creators (@ACSCreators) January 14, 2024
It comes after an epic surge that got Dogwifhat price to face a rejection from the $0.33511 resistance level. This happened as WIF was overbought, evidenced by the position of the Relative Strength Index (RSI) crossing below the 70 level. With the inclination of the momentum indicator to the south, momentum is falling and Dogwifhat price could extend the fall.
Dogwifhat Price Outlook As WIF Becomes Fifth-Largest Meme Coin
Enhanced seller momentum could see Dogwifhat price fall into the grasp of the supply zone extending from $0.24011 to $0.29587. A break and close below the midline of this order block would confirm the continuation of the downtrend.
However, if the supply zone continues to hold as a support bullish breaker, Dogwifhat could trampoline above it for the bulls to make another attempt north. As such, amid the downtrend, the critical level to watch is the midline of the supply order block at $0.26771. For the uptrend to continue, Dogwifhat price must clear the $0.33511 and create a higher high above it.
If the fall continues, however, a slip below the supply barrier that now acts as a bullish breaker support could send WIF price to the equal lows at $0.22565, below which the big picture bullish outlook would be invalidated.
While Dogwifhat price struggles to sustain the rally, two challengers are making headlines with blowout presales. MK and Sponge V2, both featuring among the top three presales with potential for massive gains, are formidable contenders in the meme coin sector.
Promising Alternatives To Dogwifhat
Standing among analysts’ top choices for the best meme coins to buy, MK and Sponge V2 present themselves as promising alternatives to Dogwifhat.
MK
MK is the ticker for the Meme Kombat ecosystem, a stake-to-earn project that advertises itself as an innovative new gaming platform designed for gaming enthusiasts. The project gives participants a chance to combat meme coins of their choice in the arena.
Me rolling up to the next family gathering after the ETF approval: pic.twitter.com/QwYytVmmFE
— Meme Kombat (@Meme_Kombat) January 11, 2024
Meme Kombat is the new sensation in the sector, with a skyrocketing presale that’s recorded upwards of $6.8 million with a target objective of $8 million looming rapidly closer.
Investors looking to buy MK can do so on the website, where each MK token is selling for $0.279. Token holders can stake their MK tokens for Annual Percentage Yields (APY) as high as 139%.
$MK is soaring to new heights, making waves in the #memecoin world. Join the presale now: https://t.co/2x2FvsuR61
— Meme Kombat (@Meme_Kombat) January 13, 2024
Visit Meme Kombat website to buy MK in the presale here.
Sponge V2
Sponge V2, one of the top five cryptos to watch in 2024, is a formidable contender in the meme coin space. It is the upgraded version of Sponge V1, aiming to revisit the 100X gains recorded by Sponge V1 in May last year. It comes amid a price explosion by Sponge itself as investors embrace the V1 to V2 bridging mechanism.
Tron founder Justin Sun holds Sponge is one among many crypto executives who have embraced Sponge following its explosive performance. Sun first revealed his intention to trade meme coins in May 2023 and followed through with the commitment. Etherscan data shows that a wallet tagged ‘Justin Sun 4’ holds $500 million in crypto assets.
Justin Sun holds this #memecoin :O I won’t even say anymore… this could destroy #SNEK and #PEPE..! Who remembers #SPONGE?!! 🫢🔥$SPONGE V2 is making loud movements in the market, even #Trons very own Justin Sun is holding $50k worth of SPONGE! 😮 💎💎
DYOR -… pic.twitter.com/ULzSDJdYnS
— Jacob Crypto Bury (@BuryCrypto) January 4, 2024
Part of the holdings comprises 108 million SPONGE tokens currently worth almost $95,000. This makes the Tron (TRX) founder and Huobi Global advisor one of the largest holders of Sponge even as it bridges off to Sponge V2.
How To buy Sponge V2
Sponge V2 is only available through the stake-to-bridge mechanism, such that Sponge V1 holders can buy and stake Sponge V2 through the Sponge.vip website’s buy widget.
Alternatively, stake the Sponge V1 you already hold through the Sponge.vip website. Remember, the more V1 tokens you stake, and the longer you stake them, the more V2 tokens you will earn.
You can claim the Sponge V2 tokens once the remaining supply of Sponge V1 is exhausted. SpongeV2 is ranked among the best penny crypto investments.
Visit and buy Sponge V2 here.
Also Read:
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