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- DOGS and WIF meme tokens are gaining significant attention with increasing investor confidence and whale participation.
- Technical patterns and whale investments reflect bullish sentiment for DOGS and WIF, outpacing other major meme coins.
In the wake of the cryptocurrency market’s recovery efforts, fueled by Bitcoin’s struggle to stay over $57,000, meme tokens on the TON blockchain, DOGS, and the largest meme token on the Solana network, Dogwifhat (WIF), have recently gained traction. These tokens are outperforming the prevailing market sentiment, with significant gains over the last 24 hours.
DOGS and WIF Emerge as Top Gainers, Surpassing Major Meme Coins
At the time of writing, DOGS and WIF were among the top ten gainers for the day. DOGS has grown 7.87% over the last 24 hours, reaching $0.001073, while WIF has increased by 7.73% to $1.68. The excellent performance of these meme tokens looks to be consistent with Bitcoin’s recent upward trend.
In recent days, both tokens have outpaced other notable meme coins, like DOGE, SHIB, PEPE, and BONK. This pattern is becoming a noteworthy trend since it demonstrates the growing importance of meme tokens in the cryptocurrency sector.
Previously, according to CNF, DOGS received a lot of attention earlier this month when it broke out of a Falling Wedge pattern, which is a technical indication that normally implies the possibility of bullish momentum.
Also, blockchain activity on TON has increased dramatically, with over 46 million transactions recorded, the majority of which were generated by excitement surrounding the DOGS memecoin airdrop.
The increased transaction volume reflects the growing interest in this coin and the broader TON network. The excitement surrounding DOGS has resulted in a quick price increase, making it a standout in the meme token ecosystem.
On the other hand, Dogwifhat (WIF) has seen strategic moves from major investors. As of our previous report, the biggest WIF whale just borrowed from Kamino to buy an additional 643,832 WIF, expanding their already huge holdings.
This strategic move resulted in a significant profit of around $65.6 million for the whale, demonstrating WIF’s potential profitability and the confidence that important stakeholders have in its future expansion.
