Popular Solana meme coin DogWifHat ($WIF) surged by 8% early UTC, climbing from $1.45 to $1.56.
However, its rise has since stalled. $WIF is now down 1.3% in the last hour and 2.7% over the past 24 hours, currently priced at $1.53.
Meme coin enthusiasts were hopeful DogWifHat was set for a recovery. Over the last day, $WIF maintained its price better than its peers: Pepe ($PEPE) fell 3.1%, Bonk ($BONK) dipped 3.3%, Floki ($FLOKI) shed 3%, and Brett ($BRETT) lost 4.2%.
In contrast, sector leaders Dogecoin ($DOGE) and Shiba Inu ($SHIB) both lost less than a percent of their value overnight.
The primary hurdle for DogWifHat’s recovery is its poor intraweek performance. $WIF has dropped 9.1% from its price a week ago, performing worse than all the mentioned coins.
According to $WIF’s price chart, the token is currently hovering above the crucial $1.50 support level it held throughout June and July. The early August market crash seems to have lowered overall support, indicated by the diagonal green line.
If $WIF continues trading above $1.50, it could signify new support at this level, potentially preventing further losses this weekend, backed by DogWifHat’s healthy relative strength index (RSI) of 48.
Source: TradingView
From DogWifHat to Base Dawgz, the meme coin landscape is evolving.
Currently, DogWifHat’s fate is closely linked with the “Big Five” doge-themed coins: Dogecoin, Shiba Inu, DogWifHat, Floki, and Bonk.
Meme coin aficionados might consider diversifying their portfolios with the new cross-chain meme coin Base Dawgz ($DAWGZ).
Like Dogecoin, Base Dawgz is another Doge-themed coin, primarily based on Coinbase’s Ethereum Layer 2, Base, but also compatible with Ethereum, Solana, BNB Chain, Avalanche, and Polygon.
This positions it as a multi-chain coin with exciting capabilities, unlike the more straightforward DogWifHat, which investors hold mainly for potential price gains.
$DAWGZ launched on June 4, quickly raising over $200,000 as investors rushed to buy a multi-chain meme coin with staking and share-to-earn capabilities. To date, it has raised $3 million.
The share-to-earn system at the core of Base Dawgz’s marketing strategy rewards community members with points for sharing $DAWGZ content on social media, fostering a more loyal meme coin community than $WIF.
Base Dawgz also offers impressive staking rewards of 809%.
Invest now to secure a fixed pre-launch price of $0.0081733.
With multiple purchase options, including popular stablecoins like USDT and USDC, buying in is straightforward and secure.
However, there are only five days left to purchase the token before its price increases.
Investors should act quickly to gain first-mover advantage on a meme coin that could potentially replace DogWifHat.
Join the Base Dawgz community on X and Telegram.
Twitter text:
“$WIF saw an early surge but has since lost momentum. $DAWGZ, the new cross-chain meme coin, is gaining traction with its innovative share-to-earn system and impressive staking rewards. Stay tuned for more updates! #Crypto #MemeCoin”
