Popular Solana meme coin DogWifHat ($WIF) is the best performer among the top five doge-themed meme coins this week, boasting an impressive 18% increase since last Friday.
The $1.8 billion market cap token, which is currently the fourth largest meme coin globally, added 3.4% in the last 24 hours and is now trading at around $1.80.
By contrast, sector leader and original meme coin Dogecoin ($DOGE)—the largest meme coin with a market cap of $15.4 billion—only saw a 0.3% increase both in the last 24 hours and over the past seven days.
### DogWifHat ($WIF) Price Analysis
In general, the crypto market has been rallying since Tuesday, following the Federal Reserve’s decision to cut interest rates by 50 basis points (0.5%) after two years of continuous hikes. This reduction in borrowing costs is expected to shift investors towards more risk-on assets like cryptocurrencies.
This news pushed the price of market leader Bitcoin ($BTC) up by 9.3% from a week ago, trading at $63,420.
DogWifHat’s home chain Solana, represented by the $SOL token, grew 13% over the week and is now trading at $149.
On DogWifHat’s price chart, $WIF has been trading conservatively following the August 5th crypto and stocks crash when spooked investors dumped their riskier assets. Since then, the token has been bouncing between $1.40 and $1.95. It looks set to continue this way, with a falling relative strength index (RSI) of 50 indicating steady selling momentum.
Going into the weekend, this could mean DogWifHat’s rally is likely to cool off and hold steady until Monday.
### Has The Fed Ushered The Return of Alt-Season? Memebet Casino Investors Think So
Now that the Federal Reserve is cutting rates, investors will likely shift into more risk-on positions for better rewards.
For those who prefer not to invest in meme coins, presales offer the opportunity to buy into crypto projects at their very launch, potentially making them more profitable than DogWifHat or Dogecoin.
Crypto’s $45.7 billion meme coin sector, which grew 4.6% in the last 24 hours, is brimming with promise.
While meme coins may have started as a parody, they are rapidly finding longevity by offering new value and utility to holders.
One new project, Memebet, has launched the first online casino where players use meme coins. The presale launched this week, and the project’s native $MEMEBET token received over $200,000 in investments in just two days.
With online gambling set to grow from a $100 billion industry in 2024 to $130 billion within the next five years, there’s little that the Federal Reserve’s policies could do to impede the growth of platforms like Memebet.
$MEMEBET tokens unlock a range of benefits for players, including airdrop rewards, special VIP degen bonuses, and access to the upcoming Memebet Casino Lootboxes, featuring real-world prizes and casino bonuses.
The project has just launched a 400 million $MEMEBET airdrop.
To join, simply buy some tokens, wait for the launch of the casino (before the end of the presale), and begin gaming and betting to secure rewards.
Stay updated on the latest Memebet news and developments on X and Telegram.
