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As the price of Shiba Inu stabilizes around $0.26, just below the recent multi-year peaks reached earlier this month, Shiba Inu (SHIB) investors are shifting their focus to the new ICO known as Dogwifcat ($DWIFC) in hopes of achieving 1000x returns.
Shiba Inu boasts a market capitalization of $15.59 billion, positioning it as a formidable player in the meme coin arena.
Nonetheless, its substantial market cap raises concerns regarding the potential for significant further gains.
Despite the Shiba Inu community’s initiatives to enhance the token’s utility, can a meme coin sustain a market cap exceeding $50 billion?
Some speculate that the upside potential for Shiba Inu may be capped at a maximum of 5x or less.
In the meme coin market, traders often dismiss the idea of 5x returns.
Meme coin investors typically seek out coins that present opportunities for gains of 100x or more.
One such coin that is likely attracting attention is the new ICO called Dogwifcat ($DWIFC).
Latest ICO Dogwifcat ($DWIFC) Starts Life With a Bang
The latest Solana meme coin, DogWifCat ($DWIFC), launched earlier this week and has already surged 4,268% to $0.017 as buying activity intensifies.
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Source: DEXTools
In addition to Bitcoin reaching new all-time highs, the most significant narrative in the crypto space is the Solana phenomenon.
Initially, there was BONK, followed by Dogwifcat, and more recently $SMOG, $BOME, and $SLERF.
Together, these meme coins are showcasing both the strength and the value of the Solana blockchain. Now, with DogWifCat, the coin is already experiencing rapid growth less than 24 hours post-launch.
Everyone in the crypto community is likely familiar with the Wif-hat theme and its various iterations.
However, DogWifCat distinguishes itself from others by omitting the hat and opting for a rhyming cat instead.
This unique twist resonates well, which is crucial in the meme coin sector that thrives on virality.
Out of nowhere, $DWIFC has quickly achieved a market capitalization of $17.1 million, with 24-hour trading volumes currently at $5.44 million.
DogWifCat has a total token supply of 1 billion – the $DWIFC token address is wifhHP4nsNmhXJx9Rrq9NFiYShUTFAreM5LKHso5qXK.
$DWIFC can be acquired on the Jupiter or Raydium decentralized exchanges by swapping SOL using Solana or a Solana-based token.
The current market conditions may present an opportune moment to realize profits from other high-performing Solana tokens such as $BONK, $MYRO, $BOME, and $SLERF, and reinvest some of those substantial gains into $DWIFC.
The post Shiba Inu Investors Pivot to Latest ICO Aiming for 1000x Returns appeared first on Cryptonews.
