WIF, a popular meme coin on the Solana blockchain, has been facing price suppression due to coordinated FUD (Fear, Uncertainty, and Doubt) campaigns from sidelined oldcyclers and sold-out crypto influencers with millions of followers, according to X analyst WIF Aesthetics Daily.
The analyst claims that these influencers, including Crypto Dog and Kaleo, are distorting the public view by promoting BONK as the leading meme coin on Solana.
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BONK: A VC Garbage Token?
WIF Aesthetics Daily argues that BONK is nothing more than a VC (Venture Capital) garbage token and that the influencers promoting it are being paid for their shilling. The analyst points out that holding a notable portion of the token supply contradicts the very nature of a meme coin, which is supposed to be a reaction against the establishment.
The analyst questions whether it makes sense for investors to buy into VC-backed meme coins, as they risk becoming exit liquidity for the team and the aforementioned influencers who engage in organized periodic dumping.
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Show more +WIF: The True Meme Coin?
In contrast to BONK, WIF Aesthetics Daily highlights the unique characteristics of WIF that make it a true meme coin. According to the analyst, WIF has no owners, no team, no marketing campaign, no vested tokens, and no agenda. These attributes align with the core principles of a meme coin, which is meant to be a decentralized and community-driven project.
The analyst also points out that there is a reason why GCR Classic, a well-respected figure in the crypto community, has chosen to support WIF over other meme coins.
Read more: Top Analyst Uses Unique Model to Predict Ripple’s XRP Could Reach $66: Here’s His Outlook
The allegations of coordinated FUD campaigns and influencer shilling surrounding WIF and BONK highlight the importance of critical thinking and independent research in the cryptocurrency space.
While the claims made by WIF Aesthetics Daily are certainly compelling, it is ultimately up to individual investors to determine which projects align with their investment goals and risk tolerance.
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