DogWifMAGA Coin Experiences Soaring Prices Amidst Intensifying Presidential Elections – Make a Purchase Now or Is Another Coin the True Victor?
The price of DogWifMAGA Coin has undergone a significant 73% drop in the past 24 hours, as the new meme token corrects itself after a massive launch earlier this week.
Running on Solana, WIFMAGA experienced a staggering 50,000% surge in the day following its listing on Raydium, causing the token to trend on social media. However, it has since plummeted, with the coin’s creators most likely selling off their holdings to retail investors who eagerly jumped on the bandwagon.
While it may struggle to make a meaningful recovery, there are better alternatives available for traders seeking above-average profits. One of the most promising new coins in the market right now is the multi-chain token Dogeverse.
DogWifMAGA Coin Price Skyrockets as Presidential Elections Heat Up
The chart for DogWIFMAGA Coin reveals two crucial features, both of which involve sharp declines. Firstly, the token’s price has consistently dropped since reaching its peak on Tuesday, and there are no signs of a recovery at the moment.
One reason for this pessimistic outlook is that the coin’s trading volume has also significantly decreased, indicating a rapid loss of interest. Currently, its 24-hour volume stands at only $4 million, compared to $27 billion for Ethereum and $800 million for BONK (another Solana-based meme coin), for example. Therefore, expecting a quick recovery would be unwise.
This is particularly true considering the coin’s minimal presence and fundamentals, even if some traders have hyped it up in the past day. The only hope for DogWifMAGA Coin is if it manages to secure listings on major centralized exchanges. However, even its recent listing on Poloniex has had little effect on its price so far. Unless a wave of new listings boosts its prospects, it remains uncertain if the coin will recover.
The launch of DogWifMAGA Coin coincides with the upcoming presidential election in the United States, where President Joe Biden and former President Donald Trump are once again vying for the position. The coin unofficially associates itself with Trump. However, due to its lack of real credentials or fundamentals, it would be irresponsible to guarantee a comeback.
Buy Now or Is Another Coin the Real Winner?
Although DogWifMAGA Coin carries inherent risks, there are other new meme tokens that show greater potential for future gains. One such token is Dogeverse (DOGEVERSE), a multi-chain cryptocurrency that has already raised over $15 million during its highly subscribed presale.
What sets Dogeverse apart is that it is the market’s first Doge-themed multi-chain cryptocurrency, operating on Ethereum, Polygon, BNB Chain, Solana, Avalanche, and Base. Its availability on various chains means it has the potential to gain traction on numerous apps and trading platforms, increasing its usage and, in theory, driving its price up over time.
Furthermore, Dogeverse has a capped supply of 120 million tokens, making it a deflationary cryptocurrency unlike most other meme coins. Additionally, token holders have the opportunity to stake their tokens, which could result in a significant portion of the total supply being removed from circulation.
These tokenomics explain why many investors have eagerly participated in its sale, which newcomers can still join by visiting the official Dogeverse website. One DOGEVERSE is currently selling at a final sale price of $0.00031, but it is expected to comfortably exceed this level once it lists in the coming weeks.
Buy DOGEVERSE Today
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes only and does not constitute investment advice. You should be aware of the risk of losing all of your capital.