It has been a long time coming – but Dogwifhat has finally been listed on Coinbase.
Following the listing on Wednesday, its price has surged over 40%. And now, WIF is quickly approaching its all-time high (ATH) – so is this a good time to buy?
Quick-footed traders have entered en masse, understanding that a listing on Coinbase is massive – especially for a meme coin.
Centralized exchanges are predominantly used by beginner users who do not operate a self-custodial wallet. This means they’re limited to the tokens the exchange provides.
And Coinbase boasts 105 million users. That’s a huge pool of new investors who can now buy Dogwifhat.
We should also mention that the simplicity and entertainment aspect of meme coins often make them a hit with beginner and retail investors.
Analysts have pointed out that the “Coinbase effect” could be huge for WIF.
Shiba Inu rallied 1,800% in 42 days after its 2021 Coinbase listing, reports Sito on X.
https://twitter.com/hatmachine/status/1856840268638495165
However, Sito commented that SHIB was listed on Coinbase at the end of the last market cycle, while WIF has been listed at what is arguably the beginning.
Sito says this is bullish for WIF in the long term.
With a tailwind from the Coinbase listing, it may be a matter of time until WIF creates a new ATH.
It recently bounced at the $3 mark, turning it into support, and is quickly approaching its March highs, notes Contra.
Per the analyst’s price chart, WIF has price targets at $7 and $15.
https://twitter.com/ezcontra/status/1856735596858781709
As WIF’s price climbs, its trading volume is also soaring. It’s currently at $3.84 billion, up 117%.
Based on what we know about SHIB’s performance after listing on Coinbase, there’s every chance we see an uptrend continuation in the coming weeks. Should WIF break its ATH, then $7 is a reasonable target that could be met as soon as this week.
In the longer term, WIF will aim to hit $15, provided the broader market behaves.
Dogwifhat’s performance echoes a heightened sense of optimism in the meme coin market, with the sector’s total valuation now sitting at an ATH of $125 billion.
Amidst this, top meme coins like Dogecoin are soaring, as are new emergents like Flockerz, which is undergoing a presale.
New meme coins like Flockerz are popular because their lower market caps allow them to outpace bigger tokens like Dogwifhat and Dogecoin.
However, Flockerz separates itself by adopting a new animal mascot: a quirky bird.
But that’s not all. The project is shaking things up by letting the community determine its future.
https://twitter.com/FlockerzToken/status/1831330384770207825
They’re creating a Vote-to-Earn decentralized autonomous organization (DAO). Users will get to vote on every decision relating to the project’s future, and they’ll get paid for it.
This tackles an issue that many meme coins face of a lackluster team. Crypto is all about decentralization, yet many meme coins are controlled driven by a small team of devs, who often don’t live up to expectations. Flockerz fixes this.
Investors can also stake their $FLOCK tokens to earn more rewards. Flockerz currently offers a 1,091% APY, but this will decrease over time.
Analyst ClayBro recently said the project is “set for massive gains.”
ClayBro notes that the presale price will increase throughout the campaign.
The current price is $0.0060049, but this will rise in one day.
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