Why Is dogwifhat Attracting So Much Liquidity? Can WIF Catch Up With Shiba Inu (SHIB)?

Despite being launched just three months ago in January, the dogwifhat (WIF) meme cryptocurrency has already amassed an impressive $4 billion market capitalization, making it the third-largest meme coin by market cap. While Shiba Inu (SHIB) still reigns supreme as the second-largest meme coin with a market cap of $18 million, a crypto analyst known as “cryptoveteran” believes WIF could soon catch up to SHIB’s dominance.

In a recent X thread, cryptoveteran, who claims to have witnessed three crypto cycles (2017, 2021, and the current one), shared his analysis on why WIF is attracting such massive liquidity. According to him, the primary contributors to WIF’s recent pump are profits from MEW and POPCAT rotating into WIF, as well as whale SHIB wallets shifting their holdings to WIF.

The latter factor is particularly exciting for cryptoveteran, as he believes SHIB whales are realizing that WIF catching up to SHIB is inevitable, prompting them to rotate their investments to WIF as soon as possible. “I have NEVER seen anything like this,” cryptoveteran exclaimed, emphasizing the unprecedented nature of this trend.

Explosion in Meme Coin Market; How to find potential successors to $WIF, $PEPE, and $BONK?🤫

The key? Getting in early, especially during the ICO phase. Check out NuggetRush today! This new memecoin combines play-to-earn gaming with authentic gold mining ventures. Seize the opportunity with ongoing presale prices! Plus, prepare for $NUGX’s upcoming launch on major exchanges.

Show more +

Meme coins, satirical cryptocurrencies inspired by internet memes, have gained significant traction in recent years, with Dogecoin (DOGE) being one of the most well-known examples. Shiba Inu, often referred to as the “Dogecoin killer,” has managed to carve out a significant portion of the meme coin market share.

However, cryptoveteran speculates that once the SHIB-to-WIF rotation accelerates, a similar shift from DOGE to WIF could follow. “We really chose the best coin of this cycle, lads. We really did. The road to $100 WIF is preordained,” he confidently stated.

It remains to be seen whether WIF can indeed catch up to Shiba Inu’s dominance or even surpass it. Nonetheless, the meme coin’s rapid rise and the attention it has garnered from crypto whales and traders alike are undoubtedly noteworthy developments.

You may also be interested in:

Check NuggetRush ($NUGX)

Sponsored: Invest Responsibly, Do Your Own Research.
Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Rene Peters
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.

CaptainAltcoin
Logo