Analysts Anticipate Explosive Growth For Memecoins After Strong Rally For Dogwifhat and Pepe Coin

2 months ago 19

The post Analysts Anticipate Explosive Growth For Memecoins After Strong Rally For Dogwifhat and Pepe Coin appeared first on Coinpedia Fintech News

After months of a bearish market for memecoins, things are starting to look up. Some of the biggest memecoins, including Dogwifhat and Pepe have seen massive rallies in recent weeks. This turnaround will likely benefit many other memecoins, including Cutoshi. This utility-focused memecoin is in a great position to benefit.

DogWifHat Sees Explosive Growth

DogWifHat (WIF) is a Solana memecoin that has seen explosive performance recently. Just in the last 40 days, WIF rose almost 30%, thanks to a wider memecoin rally. This playful memecoin captured the attention of traders once Solana tokens started picking up.

WIF’s recent performance adds to its massive growth of 1214.42% since its launch in January of last year. In this context, WIF has very few equals, even in the volatile memecoin space. One of the primary reasons why it surged in early 2024 was a mention by Elon Musk.

While he might have not been familiar with WIF at the time, he continued to interact with its community. Since then, Musk mentioned WIF again, saying that its AI model GROK will be able to make WIF memes. This has caused the DogWifHat community to believe in the token’s potential for the future.

Pepe Rides the Meme Wave to Heights

Pepe was one of the original tokens that drove the latest memecoin rally this year. Now, it is once again seeing the explosive performance. Notably, Pepe rose 15.09% over the past seven days, suggesting that a broader memecoin rally is coming.

Its latest rise added to its impressive yearly gain of 1209.49%, almost the same as WIF’s performance. As an Ethereum-based token, Pepe has benefited from the perception that ERC-20 is the gold standard for crypto.

Pepe also benefits from being the biggest token with the viral meme of the same name. While the popularity of Pepe memes is somewhat declining, people still recognize what they are. This gives Pepe the viral boost it needs to cement its position as one of the biggest memecoins on the market.

Cutoshi Set to Revolutionize DeFi

Like Pepe, Cutoshi (CUTO) is another Ethereum memecoin with great potential. Dubbed by many as the next Shiba Inu rival, Cutoshi builds its case with its strong DeFi ecosystem. And with the Chinese Lucky Cat as its mascot, Cutoshi has the viral potential of memes to get it to fame.

Cutoshi takes its teachings from the legendary creator of Bitcoin, Satoshi Nakamoto. This is why Cutoshi is building a decentralized ecosystem completely run by its community. Its mutlichain DEX will feature low fees and enable anyone to trade with no barriers. This is unlike centralized exchanges, which can block their users for any reason.

The DEX also contributes to Cutoshi’s utility. Because 20% of the exchange’s revenues will go to token burns, Cutoshi is a deflationary token. This means that its circulating supply will constantly decrease once the exchange is up and running. A lower supply means that the token’s price will face continued upward pressure. This ensures that Cutoshi retains long-term potential, and does not just depend on hype.