The price of popular Solana meme coin DogWifHat ($WIF) has gone spiralling under $1.70 after shedding 12% in the last 24 hours amidst a wider market pullback.
However, the picture is not so bleak for $WIF holders considering the 7% price appreciation over the last seven days. This makes $WIF the second best performing top five meme coin over the week, after fellow Shiba Inu-themed coin Floki ($FLOKI), which added a staggering 23.4% over the week to trade at $0.0001535.
Market leaders Bitcoin ($BTC) and Ethereum ($ETH) are both down from their prices 24 hours ago. Bitcoin shed 2.2% while Ethereum lost 4.2%. The former grew 3.2% in the last seven days, while the latter shed just less than a percent.
The world’s favourite cryptocurrency $BTC currently trades at $62,413, while the $ETH token underpinning the most commercially important blockchain trades at $2,622.
Generally speaking, it was a long night for meme coin holders. Dogecoin ($DOGE) lost 3.2% to trade at $0.104, while Pepe ($PEPE), the largest non-doge meme coin, dropped 7.7% down to $0.00000824.
Over on DogWifHat’s price chart, we can see the meme coin hovering above the psychologically important $1.50 support level it maintained throughout June and July.
Source: TradingViewThe market crash in early August appears to have dragged overall support down, as highlighted by the diagonal green line.
$WIF’s current relative strength index (RSI) of 27 indicates the asset is now oversold, so its price is likely to stabilize going into tomorrow as the selling cools off.
Falling $WIF Price Drives Investors To Base Dawgz, The Multi-Chain Shiba Inu
Nowadays, the fate of DogWifHat is tied closely to the “Big Five” doge-themed coins: Dogecoin, Shiba Inu, DogWifHat, Floki, and Bonk.
Meme coin fans wanting to explore some potentially headier upside could diversify their portfolios with the new cross-chain meme coin Base Dawgz ($DAWGZ).
Like Dogecoin, Base Dawgz is another Doge meme 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 $3 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 incentivizes a more loyal meme coin community than $WIF.
Base Dawgz also offers mouth-watering staking rewards of 775%, according to the presale website.
Buy in now to catch this potential stratospheric new meme coin at a fixed pre-launch price of $0.0081733.
With multiple purchase options, including popular stablecoins like USDT and USDC, buying in is simple and secure.
However, just a day remains 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 upward price potential to remove DogWifHat from the picture.
Check out the Base Dawgz community on X and Telegram.
Buy $DAWGZ here
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