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Web 3 Journalist
Tim Hakki
Web 3 Journalist
Tim Hakki
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Popular Solana meme coin DogWifHat ($WIF) tumbled more than 11% in 24 hours amidst a market-wide sell-off, according to data posted in the early hours of the morning UTC.
DogWifHat’s descent has now slowed and as of this writing, the token has lost 6% in 24 hours and about 10% over the last seven days to trade at $2.45.
In fact, $WIF is the worst performing of the five canine-themed tokens among the top ten biggest meme coins by market cap.
Original meme coin Dogecoin ($DOGE) dropped 2.7% overnight, but it is currently surging 23% higher than it was this time last week as it retails at $0.1419.
However, most meme coins are down today. The meme coin sector contracted 3.6% in 24 hours and now commands $62 billion of the $2.42 trillion crypto market. The collective crypto market also contracted by about 3.5% overnight.
DogWifHat: Recent Meme Coin Price Performance
Despite DogWifHat’s relatively heavy losses today, the token is still trading at close to double the price it was 30 days ago. $WIF is now challenging a $3 resistance level that it last encountered back in mid-July.
DogWifHat found strong support at $1.50 throughout the headwinds in August and September. The token’s fallen RSI score of 29 indicates it is now oversold and, as a result, is likely to be undervalued right now.
This means investors will likely buy back over the weekend, which should consolidate the token’s gains throughout the summer. In short, it may be a bad day for DogWifHat, but it comes amidst an encouraging year.
While DogWifHat Crashes, Crypto All-Stars Raises Over $2.5 Million
Given the volatile, whimsical, and ultimately, nature of meme coins like DogWifHat, investors looking to support innovation in Web3 should allocate small and cast their nets wide to diversify their portfolios and hedge against risk.
However, in the world of presales, some of Web3’s builders are creating new projects to add value, utility, and consistent returns to the much-maligned meme coin sector.
Enter Crypto All-Stars, a new protocol that lets crypto fans put their meme coins to work.
While meme coins’ inherent volatility attracts people, their whimsical nature also hinders their utility. Now, one team has found a way for meme coin holders to generate consistent value from their holdings.
Crypto All-Stars is a unified staking protocol that allows users to earn serious rewards by combining the world’s most celebrated meme coins.
Holders of Pepe Coin, Dogecoin, Shiba Inu, Floki Inu, Based Brett, MogCoin, Milady, TurboToken, Toshi The Cat, Coq Inu, and BonkCoin can stake them in the MemeVault and earn passive income in the form of $STARS with a rewards rate currently set at 586%.
The team will integrate more meme coins later, with DogWifHat being a likely candidate.
The project has gained so much popularity that its presale has already raised $2.6 million.
Following the purchase, investors can begin staking for rewards and claim the tokens once the presale ends.
Head to the website to buy $STARS with ETH, USDT, BNB, or even by card.
Follow Crypto All-Stars on social media – X (Twitter) | Telegram to stay up-to-date on all the developments.
Visit the Crypto All-Stars Presale Website Here
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.
