Memecoins
Dogwifhat and Bonk prices drop as traders switch to new memecoin Solana
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The decline in the crypto market has hit memecoins like Dogwifhat and Bonk, down 7.8% and 5% respectively, while new memecoin Dogeverse is surging with over $12.8 million raised in presales.
Over the past day, the crypto market’s decline has compounded Dogwifhat and BONK’s week-long downtrend, dropping nearly 7.8% and 5%, respectively, in the past 24 hours.
However, while many meme coins struggle, the new multi-chain token Dogeverse is seeing bullish growth. After receiving huge support from investors, it raised over $12.8 million in pre-sales less than a month after its launch.
Dogwifhat and BONK suffer losses amid market decline
Major meme coins suffered losses over the past day amid a decline in the broader market. Total The meme coin market was worth around $47.2 billion after falling about 9.5% in the last 24 hours.
Dogwifhat was one of the biggest losers, down almost 8% today. Its price is currently almost $2.4 but remains up 30% this month. After its initial uptrend, the meme token saw a fairly prolonged downtrend from its resistance at $3.1.
In fact, a popular crypto analyst, Nebraskangooner, Tweeted how WIF could see this downtrend extended to rest support at $2.3 before rebounding to gain bullish momentum.
However, any decline below this support level may delay the meme token’s near-term recovery prospects.
On the other hand, Recent tweet from CoinMarketCap showed how BONK started the week by being one of the most trending cryptos on its list. However, a drop of more than 11% over the past two days showed just how much this popularity has waned, especially as most major coins are suffering heavy losses.
BONK is currently trading near $0.00002295. It recently broke out of a classic descending channel pattern on its daily chart and entered a price discovery mode. This is why, even after falling almost 5% over the past day, it remained up 52% over the past two weeks.
Despite its recent losses, BONK’s long-term uptrend has restored traders’ confidence.
TradingView data has been displayed that volumes over the past 24 hours have increased only marginally. This means that the decline over the past day was not supported by huge volumes, reviving some hopes of a bullish reversal.
Nevertheless, Health data for BONK has hinted at a decline in the meme token’s social dominance over the past week. The token could see some upside in the near future if it rebounds from its immediate support at $0.00002275 and some improvements in its social dominance.
Despite the recent decline, many traders are quite bullish on meme tokens and expect more gains in a crypto bull market.
As a result, they are turning to early-stage meme tokens that still have huge upside potential. One meme token that has stood out is Dogeverse, which is currently in pre-sale and approaching the $13 million mark as it increases.
New memecoin Dogeverse set to rise after raising $13 million
Dogevers is a very interesting new meme token that draws inspiration from the popularity of other dog-themed cryptos like Dogecoin. What makes Dogeverse special is that it can run on several different blockchains. These include Solana, Ethereum, Polygon, BNB, Avalanche and Base.
The key idea behind Dogeverse is to break down the barriers that often separate crypto communities. It has a unique character called Cosmo. It is a dog born from a supernova that can “hyper-jump” across different blockchains.
The presale of the meme token was hugely successful, raising nearly $13 million in less than a month after its official launch. Investors can buy DOGEVERSE for $0.000304 at the time of going to press.
Dogeverse also offers a very rewarding staking program to early buyers. DOGEVERSE buyers can stake their tokens even before the presale ends. At the time of writing, the platform offers an APY of over 85%. Nonetheless, this number will decrease once new investors join its staking pool.
According to Dogeverse White Paper, the platform has set a supply limit of 200 billion DOGEVERSE tokens. It is offering early investors 15% of these tokens at a discounted price in the current pre-sale phase.
Interested buyers can enter the Dogeverse Telegram Group and follow him X (Twitter) for the latest updates.
To learn more, visit the Dogeverse presale.
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