After getting into the marketplace with a bang earlier this week, this new meme token has been heavily corrected. It took just one day from when WIFMAGA was listed to achieve 500 times what it was worth at Raydium, which is based on the Solana blockchain network. The coin has been trending in the social media.
As of now, it has plummeted greatly and this is probably because those who started the currency have sold all that they had. It may find it difficult to make a meaningful comeback, yet traders have options that are better than this because some cryptocurrencies promise high returns such as Dogeverse which is a multi-chain token and among other new promising coins within the market today.
DogWifMAGA Coin Price Amid Presidential Elections of the US-
Two closely related aspects of the chart for DogWIFMAGA Coin stick out, and sharp drops accompany them. Firstly, the price of DogWifMAGA Coin has been dropping continuously following a peak on Tuesday; for now, it appears as if there is no hope for recovery.
Secondly, the coin has very little supply left, which means that there has been a lack of interest towards it within a short period. That tends to be true especially if there are no main exchanges or if the coin lacks strong basics although there might be some hype going around for those who would like to sell it. If it should gain some market makers, there might be less than $20 left in it by Christmas; nevertheless, nothing has been done by Poloniex as per the recent listing to revive its worth.
Considering the current time we are in when the United States is preparing for a fresh election, DogWif MAGA Coin might fail to recover unless a new batch of listings drives itself appropriately at a time when President Joe Biden is running for re-election in the United States—in the same way, Donald Trump was—that’s the only thing we can be certain about regarding this coin launching.
DogWifMAGA Versus Dogeverse
DogWifMAGA Coin could be riskier, as a result of the fact that new and different meme tokens available have even greater prospects for growth in days ahead if anything else is observed. In all likelihood, Dogeverse (DOGEVERSE) which is a multi-chain cryptocurrency, thus far, raised over 15 million dollars from its heavily subscribed presale moving forward than others with respect to increased value.
The unique thing about Dogeverse is that it is the first cryptocurrency of its kind that involves multiple networks such as Ethereum, Polygon, BNB Chain, Solana, Avalanche and Base. This multiple-chain availability makes it possible to use it in a lot more applications and markets than if it was only on one or two networks; therefore, in principle, more use should increase its value with time.
Knocking down the #Memecoin competition! 🥊🐸#Solana #Altcoins #Crypto #PEPE #Usyk #TysonFury #FuryvsUsyk #Boxing #Champion pic.twitter.com/BsgqVCmuab
— DogeVerse (@The_DogeVerse) May 20, 2024
It is important to note that it can be supported by a capped supply of 120 million tokens which makes it a deflationary cryptocurrency in contrast to numerous meme coins available in the market. To add to this, once launched, it is expected that there could be significant proportions of its entire circulation disappearing as people who own these coins stake them.
The reason a lot of people bought the DOGEVERSE token was due to these tokenomics, and all new crypto traders can also buy it by visiting Dogeverse’s website. Besides, it goes for $0.00031 as the ultimate sale price but will most likely be way above this number when it gets listed within a few weeks.
Also read: RIP Kabosu “DOGE” Dog, The Loveliest Dog Face That Inspired The Memecoin DOGE
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Disclaimer: This post is intended solely for informational purposes and should not be taken as legal, tax, investment, financial, or any other form of advice. Although all the information provided is true to the best of our knowledge, it is advisable to research well before making any kind of investments or decisions in general. The team of ReadingCrypto bears no responsibility in the event of any adverse outcomes.
