Is DogWifHat on the brink? WIF Price Drops 5% as Attention Turns to This Other Coin Solana Meme

Last updated: May 9, 2024 at 7:19 a.m. EDT | 2 minutes of reading

Popular Solana meme piece DogWifHat ($WIF) is in free fall today, as falling crypto prices across the board are pushing down the prices of many coins.

Over the past 24 hours, WIF has fallen by 4.8% and is currently trading at $2.80. This makes it the biggest intraday loser among the top seven. coins by market capitalization.

The depreciation of market leaders over the same period was also more moderate. Original cryptocurrency Bitcoin ($BTC) fell 2.5% and is changing hands at $60,800. Ethereum ($ETH) is down just 1.5% and is currently trading at $2,956.

Original meme piece Dogecoin ($DOGE) followed Bitcoin overnight and fell 3.2% to trade at $0.144 on Thursday, May 5.

In the meantime, Pepe’s piece ($PEPE) has actually recovered a bit.

The most popular coin honoring Pepe the Frog rose 0.2% to trade at $0.057923 as of this writing.

DogWifHat is still the leading Solana coin with a market cap of almost $3 billion. WIF’s two closest competitors, the $1.5 billion market cap Bonk ($BONK) and the $720 million Book of Meme ($BOME), both fell 2-3%.

On WIF’s trading chart, we can see the token bouncing in step with broader market movements throughout March.

Unlike the market leaders, WIF continued to rebound strongly in late March and even reached a new all-time high of $4.83 on March 31. Today’s price represents a 42% drop since then.

Source: TradingView

With the Relative Strength Index (RSI) at 40 and rising, WIF may have found the support it needs at its current price. This means that further significant losses are unlikely to be recorded over the weekend.

Forget DogWifHat, Sealana is Solana’s Next Viral Piece

DogWifHat is a cute meme but it’s not really new. In a sector dominated by coins with market capitalizations in the tens of billions, it is unlikely to stand out from its staunchest rivals.

Solana’s Sealana ($SEAL), the American red seal has already bred more than one $300,000 in a hilarious new week-long pre-sale.

Sealana is a version of the viral Gamer Guy from South Park, aka Fat Computer Nerd.

Gamer Guy appeared in the hit cartoon’s mind-blowing World of Warcraft episode and became a viral meme in his own right thanks to his milk bottle glasses, screen-locked gaze, messy room and gravity-defying girth.

He has symbolized anyone from the legions of disgruntled keyboard warriors writing scathing and acerbic opinions in Internet comment sections, to a sort of Everyman – a symbol of the idler in everyone.

Sealana is the Everyman of Web3, stranded at his desk and in a balloon every day. When he’s not making dirty degen deals, Sealana’s wandering fins seek out chips and canned tuna to feed on.

For each SOL, investors receive 6,900 $SEAL tokens after the ICO concludes. Users can pay using a widget on the website or by sending SOL from a decentralized wallet to this address: DJ15ZYXqUNMYJ3hL7z4ciSaSFAw5cbos3YjGpdvwmF6c.

Follow the latest developments on Sealana account.

Buy Sealana at official website here.

Warning: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose your entire capital.

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