WIF exchange rate rose by 48% after the publication of Elon Musk's picture with dogs in hats
Earlier, the businessman’s publications repeatedly led to an increase in the exchange rates of coins using a Shiba Inu as a mascot
18.03.2024 - 12:50
415
3 min
0
What’s new? Over the past 24 hours, the rate of the “dog” meme token Dogwifhat (WIF) based on the Solana blockchain rose by 48%. This happened after Elon Musk posted a picture of dogs in hats on his X-account, timed to coincide with St. Patrick’s Day. The WIF mascot is a Shiba Inu breed dog wearing a knitted hat.
What else is known? WIF, launched last November, is a fully decentralized project and is community-driven. It is the largest Solana-based meme coin by capitalization, ranking fourth in the overall ranking of similar assets with over $3,1 billion.
Back at the end of last month, Santiment analysts named WIF as one of the main beneficiaries of the BTC rate growth, as investors started redirecting their profits from investments in the first cryptocurrency into it.
On March 5, the largest crypto exchange Binance listed WIF, on the background of the announcement its rate momentarily jumped by 38%. Later, WIF community members raised over $696 000 to advertise the project at the famous high-tech entertainment arena MSG Sphere in Las Vegas. Since the beginning of the year, the asset’s rate has risen by 167%.
Meme tokens on Solana raised $100 million in three days during the presale
SOL has risen to the fourth place in the ranking of cryptocurrencies by market capitalization
Musk and meme tokens. Previously, Musk’s publications have repeatedly led to the growth of other meme tokens, which also use a Shiba Inu dog as a mascot. The largest and oldest such token is DOGE, which the businessman mentioned many times in his X-account: for example, he urged McDonald’s to accept payments in Dogecoin and offered subscribers to pay for a visit to X headquarters with DOGE coins.
The businessman was later sued for insider trading in DOGE.
Another “dog” meme coin, FLOKI, was actually created after Musk said he wanted to get a Shiba Inu and name it Floki. Later, Musk did indeed get a dog with this name, and the FLOKI rate showed growth when the businessman published a picture of the pet in X.
Useful material?
Telegram 
Twitter Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Cryptocurrency rates
-
Bitcoin
$98 970
BTC
+0.72%
-
Ethereum
$3 293.46
ETH
-1.89%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.44
XRP
+20.2%
-
Dogecoin
$0.407624
DOGE
+6.11%
-
Cardano
$0.973008
ADA
+21.81%
-
Stellar XLM
$0.328569
XLM
+31.79%
-
Bitcoin Cash
$487.69
BCH
+1.05%
-
Polkadot
$6.34
DOT
+8.59%
-
Litecoin
$90.83
LTC
+1.63%