Category Archives: Crypto News

OKX, a digital currency exchange, has declared that two major memes based on Solana, WIF (Dogwifhat) and MEW (Cat in a Dog’s World), will now be listed on their platform. Users can deposit these coins on the exchange for trading starting today, and withdrawals will be enabled tomorrow. WIF and MEW have been gaining popularity and are trading millions of dollars worth of coins daily. These coins are both built on the Solana blockchain, which has shown exceptional performance and acceptance during the current memecoin mania. WIF currently holds the 42nd spot in terms of market capitalization, while MEW was just launched a few weeks ago. OKX currently has about 20 other memes listed on their platform.

The updated version of the system gives priority to transactions from validators who have a large stake. These transactions are verified by a node leader. This arrangement guarantees that validators with a greater stake are given better treatment, while also preventing weaker validators from overwhelming the network with harmful transactions.

A well-known analyst, known as The Flow Horse, who is known for accurately forecasting altcoin trends, predicts that one of Dogecoin’s competitors, dogwifhat (WIF), will see a significant resurgence once the public’s attention turns to other cryptocurrencies. The Flow Horse shared his positive long-term outlook for WIF with his 210,100 followers on the social media platform X.

According to The Flow Horse, WIF will likely experience sideways movements in its price in the upcoming months, which will pave the way for a substantial increase in the latter half of 2024. He believes that WIF may take a while to stabilize, causing uncertainty among investors about its position in the market. However, he anticipates a stronger price increase in the future and plans to buy during any dips in the summer.

As of writing, WIF is valued at $2.40, reflecting a decrease of almost 9% in the last 24 hours. The Flow Horse is also closely monitoring Ethena (ENA), a governance token associated with Ethena Labs’ decentralized finance (DeFi) platform. The analyst suggests that ENA is one of the fastest-growing altcoins amidst the current market dip.

At present, ENA is trading at $1.06, exhibiting an increase of approximately 18% from its 24-hour low of $0.90. The Flow Horse believes that ENA presents a promising investment opportunity during market fluctuations.

Please note that this article does not offer investment advice, and readers are advised to conduct their own research before making any investment decisions.

Despite a widespread decrease in prices for most cryptocurrencies, WIF has stood out with a surge in price and social activity compared to SHIB. While SHIB’s price dropped by over 7% in the last 24 hours, WIF’s has remained in the green. Additionally, WIF’s price has rebounded quickly following a sharp drop on April 14th, and has shown a 3% increase in the last 24 hours, unlike many other cryptocurrencies. As of now, WIF is trading at $2.81 and has a market capitalization of over $2.8 billion.

In contrast, SHIB has continued to experience a decrease in value, with a market cap of $13.15 billion and a current value of $0.00002232. WIF not only outperformed SHIB in terms of price, but also had a higher social volume according to a data analysis by Santiment for AMBCrypto.

Further analysis by AMBCrypto looked at the liquidation heatmap for WIF and predicts potential price targets if the trend continues to be bullish. Based on data from Hyblock Capital, it is possible that WIF could reach a price of $3.9. If it successfully breaks through that level, it could potentially reach $4.2 or even $4.5 in the coming weeks.

However, there is also some uncertainty surrounding WIF due to an increase in selling pressure, as reported by a recent tweet from Lookonchain stating that a whale sold 1.22 million WIF for 3.13 million USDC at $2.56.

In comparison, SHIB’s metrics do not look as promising. A data analysis by Santiment for AMBCrypto reveals a decrease in SHIB’s MVRV ratio, indicating a drop in value. Additionally, its NVT ratio has spiked, suggesting an overvaluation and potential further price decline. However, SHIB’s supply on exchanges has decreased, indicating a high demand for the cryptocurrency.

In summary, WIF has shown more positive trends in terms of both price and social volume compared to SHIB. While WIF’s rapid recovery and potential price targets are optimistic, the increase in selling pressure and metrics indicating a bearish trend raise concerns. On the other hand, SHIB’s metrics also suggest a potential price decline despite a lower supply on exchanges.

There has been a notable surge in the value of a satirical cryptocurrency mimicking President Joe Biden, experiencing a growth of almost 271% within the past month. In contrast, digital assets associated with former President Donald Trump have faced a sharp decline in value as he faces a criminal trial. Non-fungible token (NFT) sales on Ethereum have reached $536 million in the past month, but interest in Trump NFTs has decreased drastically, with trading volumes for his official collection dropping by more than 99% in the last 30 days. The NFTs were initially priced at $99 each, but there has been no trading activity in the past week. Additionally, a satirical cryptocurrency based on Trump’s famous slogan, “Make America Great Again,” has lost over 4% of its value in the last 24 hours. In contrast, another meme coin poking fun at President Biden, named Jeo Boden (BODEN), has experienced significant growth, increasing by 24.4% in the last 24 hours and almost 271% in the last 30 days. Its current market cap stands at $475,326,682.