Will Dogecoin finally get to a dollar? Memecoin roundup

In recent days there has been a lot of buzz on social media about Dogecoin, Shiba Inu, Dogwifhat, Pepe and Floki. Why is it the attention moving away so quickly from Bitcoin and onto memecoins during the weekend?

And the most important question of all for those who have been following crypto for a few years: will Dogecoin finally reach that fabled one dollar value this time?

Wall Street seems to have taken over the direction and growth of Bitcoin, if the latest calculations from the BBC are to be believed, and so I personally don’t expect the largest cryptocurrency to make any strange jumps over the weekend.

This does not mean that there is nothing going on in the world of crypto, of course. In the last two days, several memecoins rose by 50 to even 100%. What is going on? And what are all those ‘dog coins’ that everyone is talking about?

Almost all famous memecoins are available at Bitvavo or Bybit, except for Dogwifhat, this coin your can find at MEXC.

Dogecoin

I’d hate to sound nostalgic on a Sunday, but as it’s a weekend where dog memecoins top just about all crypto rankings, let’s revisit 2021 when Dogecoin (which was originally founded as a funny anti-backlash coin against Bitcoin) rose from a value of just a few cents to 75 cents in a mere four months. Will Doge reach the 1 dollar mark this time?

There is already a call for celebrities on social media to support the largest memecoin. So far we haven’t heard from Snoop Dogg or Paris Hilton, both of whom supported Dogecoin with funny memes and tweets in 2021.

Elon Musk will probably have been advised not to meddle into memecoins this time round, because last time he had to deal with a lawsuit from investors who felt cheated when the Dogecoin price dropped after it’s 2021 peak.

🎶 Who let the Doge out 🎶

— Elon Musk (@elonmusk) February 7, 2021

Shiba Inu

After the success of Dogecoin in 2021, a new memecoin showed up in the market later that year, also with the image of a Shiba Inu dog (just like Dogecoin), but with a different name, namely Shiba Inu. This one also became very popular and has been in the top 20 of CoinMarketCap ever since.

A little later, ‘Floki’ was also launched, another memecoin with the image of a Shiba Inu, but named after Elon Musk’s dog. Floki is also popular and appears in the top 100 of CoinMarketCap. TokenFi of the Floki team didn’t take off.

Pepe

Since the second half of 2023, many cartoon characters have been added, such as Spongebob, Ladys and Pepe, who was inspired by the MAGA group in the United States, the most loyal supporters of Donald Trump.

Pepe turned out to be a keeper and is also present in the top 100 of CoinMarketCap whenever there is a new crypto bull run.

Dogwifhat

Finally, there is also Dogwifhat (or ‘dog with hat’ but in GenZ slang or something like that). It is really going parabolic and has risen from less than a dollar to $1.65 in the past three days. In the past week, that memecoin went up more than 400%.

The hat stays on. $WIF = $2

Let’s make it happen fam.

How y’all going to spend your dog money riches? pic.twitter.com/MLkphIWPvn

— Arthur Hayes (@CryptoHayes) March 1, 2024

Arthur Hayes, a celebrity in the crypto world when it comes to price predictions, has called on his half a million followers to send Dogwifhat to $2.

Since we have not yet forgotten what happened to Elon Musk when he was pushing a coin, I hope for Arthur that it will all end well this time.

Do whatever you want with this information, but remember, memecoins are a lot of fun but also a lot of volatility.

MauriceNorbert / Depositphotos.com