WIF leads the market gains What other memes are waiting to be discovered on Gate.io?

WIF: Another 10,000x Meme on Solana

According to Gate.io data, the price of WIF has broken above $1.9 so far and is now trading at $1.91. In addition to the price, WIF's Market Cap quickly soared to $1 billion, making it one of the fastest-growing "meme coins" in Solana's history. Fueled by this "hat dog" craze, WIF surpassed USDT in 24-hour trading volume and directly surpassed BONK with a total Market Cap of $1.7 billion on March 3.

The issuance process of WIF was rather low-key, and according to market data, WIF was first listed for trading at a price of $0.00016 back on November 20, 2023. Since then, WIF prices have been on an rise and have not seen significant declines.

Source: Dogwifhat official website

In addition, Arthur Hayes, a well-known crypto community leader, has been optimistic about WIF, saying: "Once Bitcoin falls below $35,000, I will start buying and continue to increase my holdings of Solana and WIF." "In addition to the recommendations of major KOLs, the Node where WIF really started its 10,000-fold journey was on March 1, when Robinhood announced its support for WIF, and the news immediately attracted widespread attention, and not only WIF supporters, but also other Crypto Assets enthusiasts set their sights on WIF, and large investors on the chain began to buy in large sums.

Because WIF has the image of a Shiba Inu, coupled with the rapid spike after Robinhood's launch, it reminds Long people of DOGE. DOGE has been the guide for retail investors in the past Long to get involved in the crypto space. During the 2019 "GameStop" vs. AMC stock war, Robinhood and other U.S. securities brokers announced the suspension of trading in GME, AMC and other stocks, and then retail investors and a lot of money turned to DOGE.

After the introduction of Dogecoin, retail investors continued to make history in the US App Store Relay. AT THAT TIME, THE PRICE OF DOGE SOARED TO $0.0875, AN INCREASE OF 1,014%. Perhaps, we can also re-witness the glory of meme coins on WIF.

FLOKI: Meme coin under Musk's halo

FLOKI experienced a significant price spike over the weekend, rising by an astonishing 100% to over $0.000155. The sudden spike in Floki's price has sparked widespread discussion and speculation in the community, reflecting the growing interest in the meme coin. As Floki continues to be in the spotlight, its performance has also become a barometer of broader sentiment and trends affecting the Crypto Assets market.

Source: Musk X

In addition to the fact that Musk, the world's richest man, has gone to great lengths to promote his pet dog Floki to the public, another data worth paying attention to is that the total value locked (TVL) of Floki ecosystem products has exceeded $366 million. This milestone highlights the strength and resilience of the Floki ecosystem, a testament to its strong utility and not just its image attributes as a meme. In addition, TVL's breakdown data shows that Floki Staking is worth more than $239 million, which are real Token stakes.

Meanwhile, FlokiFi Locker has a whopping $127 million in TVL. This sets Floki apart from other meme coins such as PEPE, BONK, DOGEE, and SHIB, which often lack comparable ecosystem metrics. Floki's ecosystem benefits not only increase its credibility in the Crypto Assets community, but also lay the foundation for its long-term sustainable growth and adoption.

Over the weekend, Floki developers made a proposal to burn 2% of the circulating supply of Tokens, worth more than $11 million. The proposed Token Burn is intended to increase scarcity and strengthen cybersecurity, reflecting Floki's commitment to improving the integrity of its ecosystem.

PEPE: The most widespread frog in the world

The success of the "dog" meme coin has made the market realize that meme has something else to do in the Crypto Assets space, and that "preaching" and sharing a certain subculture in the community can generate great power. After a round of Bear Market, meme coins like Shib and Doge not only survived, but even performed better than some so-called value investing projects. If you are a traditional investor, whether it is a value investment or a short-term swing band, you will definitely research all aspects of asset issuance to be safe when choosing an investment target. But meme coins don't give you that time, it relies on emotions and marketing.

PEPE, a "meme" that has been popular on the Internet for Long years, is inspired by the classic meme "Pepe the Frog" from Matt Furie's "Boy's Club" cartoon. Popular in 2008 on cultural forums such as Myspace, Gaia Online, and 4chan, in 2015 it became one of the most popular online viral images on the social platform Tumblr.

PEPE has been in the spotlight since its launch on Ethereum Blockchain in April 2023, and its Market Cap quickly surpassed $1 billion and become one of the most traded Crypto Assets, making PEPE one of the best meme coins to invest in. Within two weeks of its launch, PEPE unsurprisingly entered the top 100 Crypto Assets by Market Cap.

Just today, the price of PEPE broke through to $0.0000065, once again updating its all-time high. And we know that after the new high, it will only be higher.

How to play meme in Gate.io?

In a complete Bull Market cycle, the pattern of capital rotation between sectors is usually: BTC -> ETH and public chain/L2 -> current hot sectors -> Web 3 infrastructure -> GameFi/Metaverse -> Non-fungible Token -> Meme coins/animal coins -> Bull Market end.

The enthusiasm of meme coins tends to peak in the mid-to-late Bull Market, Bull Market most people make money, the market sentiment is easy to fomo, and it will also attract more Long Newbie players and new funds to enter the market. Therefore, if you want to lay out a meme project with excess returns, it is best to look for alpha at the beginning of the Bull Market, when BTC rises alone.

Focus: Look for projects with low Market Cap and low unit price.

In the middle and late stages of the Bull Market, all mainstream tokens skyrocketed, and the prices of BTC, ETH, etc. were too high, so investors outside the circle were discouraged. Meme coins are cheap, fun and easy to spread and understand, so they are favored by Newbie players.

You can buy millions or even hundreds of millions of meme Token for just $1, and the investment cost is low, which can bring new users a Long sense of accomplishment. As a result, successful meme coins Long have extremely low prices, usually less than $1, and the total amount is huge.

Meme coins are susceptible to external influences, so when investing in meme coins, you need to keep track of community discussions and media reports to gauge market sentiment and speculate on price movements and lifecycles.

Gate.io has compiled a section of popular meme coins for users on its official website, and users can directly click on the Coin they are interested in to trade. In addition, Gate.io's unique community feature will also broadcast the latest user sentiment of related meme coins in real time, so that you can make more perfect trading choices.

Author: Icing

*** This article represents the views of the author only and does not constitute any trading advice. **

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