Dogwifhat is one of the top gainers of the ongoing meme coin rally. The Solana-based meme coin has jumped 647.84% over the last thirty days. But indicators show that things are about to slow down, with SMOG and SCOTTY taking over.
Dogwifhat Awaits a Volatile Week
Meme coins are often criticized for their highly erratic price actions. While they can make three- and four-digit ROIs in a week, they are also known for steep crashes. Dogwifhat is about to witness one.
Although WIF was spawned into the market only three months ago, it has swiftly secured the 5th position on the meme coin chart. At present, WIF is only behind Dogecoin, Shiba Inu, Pepe, and BONK. The price of WIF climbed 358.35% over the last seven days, stretching its market cap to a gigantic $1,663,718,272.
With little more than speculation supporting the price action, WIF is looking at a tough week. The downward journey is about to begin.
Dogwifhat 1-month price action, CoinMarketCap
While the surge so far paints a promising picture, meme coin history shows that a dump follows a pump. Despite the buzz and limelight, the long-term viability of WIF is questionable.
The prevailing trend suggests that Dogwifhat’s stay in the spotlight may be temporary. The pre-halving rally is expected to gain momentum in the coming days, however. The meme coin market will continue to benefit from it.
Source: CoinMarketCap
The only difference is that the volatile frenzy surrounding meme coins is about to take a turn to emerging coins with various narratives. Llow-cap meme coins are preparing to run the show, pushing back high-cap competitors like Pepe and WIF.
Dogwifhat may find itself conceding defeat soon as it struggles to expand its market cap beyond the threshold, which it has already surpassed. Major meme coins like BONK, Pepe, Dogecoin, and Shiba Inu are likely to encounter similar challenges as investors seek more promising alternatives.
The escalating excitement surrounding new meme coins like SMOG and Scotty the AI hints at the shifting trend, as they step into the limelight while high-cap meme coins show the first signs of a decline.
SMOG Steals the Spotlight This Week
Over the last seven days, SMOG has recorded an astounding 81.57% surge. But being a new entrant in the market, the dragon-themed meme coin boasts a relatively modest market cap of $80 million. In other words, SMOG has ample room for growth and expansion.
SMOG 1-week price action, CoinMarketCap
SMOG taps into the latest sensation in the crypto world—Solana meme coins. The choice adds to its allure, making it a focal point of interest in the ongoing meme rally.
SMOG has also been running a series of airdrop events, which get a substantial share of the token supply. Along with the extensive marketing campaigns, the airdrops will enhance engagement and participation within the meme coin community.
- 35% of token supply is allocated for airdrop rewards.
- 50% is designated for marketing endeavors.
- 10% is reserved for CEX launches.
- 5% is used for providing liquidity for the DEX launch.
The meticulously crafted tokenomics framework ensures that SMOG maintains visibility and relevance, even after the initial FOMO kindled by the pre-halving rally subsides.
Another interesting factor catalysing the meme coin mania around SMOG is the theme. SMOG introduces a fresh narrative centred around a powerful dragon theme:
“The mighty Smog reigns over the crypto battlefield, incinerating all his foes. As the dragon fire burns, the Greatest Airdrop in History gathers pace. No other meme coin can survive the fiery flames. Buy and hold $SMOG to gain airdrop points and join the dragon in vanquishing his enemies!” notes the project in its introduction.
With the market cap still low at $80M, SMOG is looking at a steep climb over the next few days. Seizing early entry points this week, investors can avoid inflated prices later on.
The SMOG website offers a 10% discount for OTC purchases, along with compelling staking rewards.
Scotty the AI Shows Promise
SCOTTY the AI can be best described as an AI crypto that comes in meme coin packaging.
Scotty the AI presale
“In a vast and complex world of cryptocurrency, there existed the legend of a dog named Scotty the AI. With his advanced AI capabilities, he roamed the endless expanse of code and algorithms that made up the digital world, always staying one step ahead of those who sought to catch him,” notes the website.
The narrative paints SCOTTY as a meme coin to watch out for. Standing apart from the crowd, Scotty will boast a unique fusion of intelligence and shrewdness. The hot presale of $SCOTTY is rapidly approaching a sell-out at the time of writing.
Frog Wif Hat is another meme coin to look forward to this week. Tapping into the hype around both Pepe and Dogwifhat, the new coin centered around a French beret offers a promising outlook.