Memecoins
Dogwifhat and Floki fall after recent pumps as new memecoin raises $4 million ahead of IEO
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Dogwifhat and Floki face notable price drops amid a market-wide sell-off, but Sealana’s pre-sale shows upside potential with over $4 million raised.
Dogwifhat and Floki have suffered sharp price drops this week, fueled by a broader cryptocurrency market sell-off. However, emerging memecoin Sealana continues to show upside potential, with its total presale raise exceeding $4 million ahead of its IPO later this month.
WIF and FLOKI decline as uncertainty arises in the cryptocurrency market
A market-wide sell-off proved that memecoins are not invincible. Crypto market leaders Bitcoin, Ethereum and BNB are all deep in the red this week.
BTC fell 5%, ETH fell 7%, and BNB fell 12%. However, the increased volatility of memecoins has dramatically reduced prices across the board, with Dogwifhat and Floki faring the worst.
Currently, WIF is trading at $2.58, breaking even today and down 25% this week. It has a market capitalization of $2.5 billion and a 24-hour trading volume of $450 million.
Bearish sentiment is intensifying as respected analyst Bluntz claims “$1 is inevitable” for WIF. This would equate to a 61% sell-off from the current price and 79% from March’s all-time high of $4.85.
However, others remain optimistic that WIF can recover. For example, Trader Koala suggests that a bottom has been reached and expects a rapid repricing towards $3.60.
Similar to WIF, Floki has experienced relentless selling pressure this week. It is currently trading at $0.0002317, down 6.5% today and 28% this week.
Floki holds a market capitalization of $2.2 billion and a 24-hour trading volume of $436 million.
Traders hope that Floki’s bullish trend will prevail on a higher time horizon, but the recent sell-off has raised concerns.
CryptoBull recently tweeted a price chart of Floki, illustrating that it is currently trading at a key support level. He wrote “prayer mode activated” hinting that losing this level would prove detrimental.
Dona.inj also highlighted that Floki is approaching a key support level and predicts a “bullish retest”, which would precede an upward bounce.
However, he also admits that losing this level “is a bearish signal”.
After months of bullish momentum, cracks have started to appear for Dogwifhat and Floki. However, this has not reduced the market’s appetite for memetic emotions.
As the leaders calm down, a new seal-themed memecoin has emerged and taken the market by storm. The project is called Sealana and has raised over $4 million from pre-sales.
Sealana is backed by a top analyst as pre-sale ends in 13 days
With the Sealana Pre-sales advance while the broader market struggles, there is every chance this could be the next big memecoin.
Initially launched on the Solana network, the Sealana team demonstrated technical prowess by connecting to Ethereum, so the memecoin is now available on the two hottest cryptocurrency blockchains.
Sealana’s total raising of $4 million reflects the fact that the project has resonated with memecoin traders, but this is not a surprise given its memetic appeal.
Inspired by South Park’s “World of Warcraft boy”, Sealana is an overweight seal who particularly enjoys junk food. She lives in her mother’s basement, she trades memecoins with the hope of one day being able to buy a Lambo.
The project offers a hilarious twist on American patriotism. His social media is filled with references to South Park and even the occasional nod to the controversial MAGA movement.
However, the Solana community is renowned for its appreciation of bold, contrary evidence, so it is not surprising that SEAL has been in high demand. Adding to the excitement, leading analysts are rallying in support of the project.
In a recent video, CryptoBoy dubbed it a “100x gem,” highlighting its early momentum and market demand for Solana memecoins as reasons why.
The Sealana presale ends in 13 days, so those looking to purchase have little time to do so.
To know more, visit the Sealana presale.
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