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Tim Hakki
Author
Tim Hakki
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Popular Solana meme coin DogWifHat ($WIF) has lost 2% in the last 24 hours and 14% over the last seven days to trade at its current level of $1.70.
These are heavier losses than the cryptocurrency market leader, Bitcoin ($BTC). Over the same period, Bitcoin shed 11% over the week but added 0.5% overnight.
Given the massive uncertainty around crypto following Monday’s market-wide crash, many are wondering if a low-utility meme coin like DogWifHat will be able to weather further storms.
$WIF Outpaced The Other Doges This Week, But Only Just
In reality, though, $WIF is still one of the best performing meme coins this week. Holders of Dogecoin ($DOGE) felt greater seven-day losses of 17%.
Dogecoin’s number one contender, the privacy-focused Shiba Inu ($SHIB), a meme coin which has its own Ethereum layer-2, Shibarium, dropped 16% over the period.
Pepe ($PEPE), the leading non-doge meme coin, fell 25% over the week.
Meanwhile, in the wider market, Ethereum ($ETH), the most commercially important cryptocurrency, crashed a heavy 23%. The $SOL coin underlying DogWifHat’s home chain posted the lightest intraweek losses this week, only shedding 8%.
According to DogWifHat’s price chart, the recent market crash almost sent the price of $WIF down to a dollar before the coin began a sprightly rebound. It’s still far away from challenging its recent resistance level of $2.90, but with a relative strength index ($RSI) of 59, the token is priced in well right now.
From DogWifHat To Base Dawgz, How Meme Coins Are Evolving Beyond Their Home Kennels
Investors looking for an exciting Shiba Inu meme coin beyond the “Big Five” of Dogecoin, Shiba Inu, DogWifHat, Floki and Bonk could diversify their portfolios with cross-chain meme coin Base Dawgz ($DAWGZ).
Like DogWifHat, Base Dawgz is another Doge-themed coin, this time its primary kennel is on Coinbase’s Ethereum Layer 2, Base, but it’s also compatible with Ethereum, Solana, BNB Chain, Avalanche and Polygon.
This makes it a multi-chain coin with exciting capabilities, unlike the more vanilla DogWifHat, a coin which investors only hold to exploit potential price rises.
$DAWGz launched on June 4, taking in over $200,000 within minutes as investors piled in to snap up a multi-chain meme coin with staking and share-to-earn capabilities. To date, it has raised over $2.8 million.
But what is share-to-earn? Simply put, the token’s ingenious marketing strategy puts community members at the core of Base Dawgz’s marketing strategy, thanks to a share-to-earn system that pays out point rewards for sharing $DAWGZ-centric content on social media.
This arguably incentivizes a more loyal meme coin community than DogWifHat.
Base Dawgz also offers mouth-watering staking rewards of 934%, according to the presale website.
Buy in now to catch this potential stratospheric new meme coin at a fixed pre-launch price of $0.007414.
With multiple purchase options, including popular stablecoins like USDT and USDC, buying in is simple and secure.
However, there are just over four days to purchase the token before it rises to the next fixed presale price.
That means investors better hurry if they want first-mover advantage on a meme coin that has the potential to remove DogWifHat from the picture.
Check out the Base Dawgz community on X and Telegram.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
