Dogwifhat (WIF)

Introduction to Dogwifhat (WIF)

Meme coins are quite a unique type of cryptocurrency, and their popularity within the virtual space is quite evident, albeit not for the best of reasons at times. Such coins trace their origins to how meme culture has proliferated on the Internet.

Often times, these coins lack any proper underlying value, witnessing enormous price fluctuations over the past years and even now, and burning your fingers because of their volatility can be far too easy.

But in case you’re new to the space and can’t wrap your head around what all those dog and frog coins really are, don’t fret, we’ll dive a bit into that. Just think of them as satirical or humorous tributes to certain aspects of Internet culture, meme culture, that is.

So, they usually feature some really quirky logos, names, or branding that act as references to well-known jokes, memes, or other Internet phenomena. A popular example includes that coin based on Pepe the Frog.

However, here, we’ll be looking at another coin that has been gaining popularity recently, and that is the Dogwifhat coin. In case you’re scratching your head now and wondering about what aspect of Internet culture it’s based on, we’ll get into that a bit.

Well, Dogwifhat simply refers to a Shiba Inu dog photograph that depicts the dog wearing a pink woven beanie. Its origins can be traced as far back as December 2019, where edits of this image featuring various other images and logos put on the beanie had acquired massive popularity as profile pictures on Twitter (now X).

These were obviously accompanied by hashtags like #dogwifhatgang and #dogwifhat. Interestingly enough, it all really started when a professional Fortnite player named Issa changed his Twitter profile picture to that aforementioned image, prompting others to do it too. So, yes, this meme has its origins in Fortnite of all places and this coin is a homage to that.

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Origins of Dogwifhat

The token launched on Solana in November 2023, and since then it has seen an astronomical rise in popularity and price. In just a couple of months, the token’s value increased by more than 40,000%! This positioned it as a leading dog-themed token, even challenging the likes of Shiba Inu and Dogecoin itself!

Not to mention that the community behind it can be vibrant and engaged too. Members share memes every now and then and actively try to make the atmosphere around the cryptocurrency fun and inclusive, which could further amplify its status within the cryptocurrency world.

Tokenomics of Dogwifhat

On to the tokenomics, it should be noted that the Dogwifhat token is fully committed to maintaining that decentralized framework, which features a fixed and fully distributed token supply of around 1 billion WIF tokens.

So, yes, the supply is fixed and not an inflated mess that other meme tokens are, but there also aren’t any plans for token staking, burning, or even adding any utility features.

If you’re wondering whether or not the token has any intrinsic utility, then no it doesn’t, as it has completely embraced that meme token culture, so any value it may have is mainly derived from speculative interests and community sentiment, which honestly isn’t much to go by.

This is also during a time when meme tokens have been trying to add some form of utility or underlying worth to them, while simultaneously embracing their identity as a homage to certain memes.

Market Performance of Dogwifhat

Utility or no utility, that still hasn’t stopped people from flocking to this token, as alluded to earlier with its significant momentum these days. After all, the token went from being valued at approximately $0.1 to more than $4.

As for why it has gained so much, the answer to that would most definitely be mere speculation and celebrity endorsements, which allowed it to go viral in a span of a few months, grabbing the third spot in the meme token category.

One other reason people assume its value must be up is due to its finite token supply, although that may not be saying a lot considering its supply is nearly 1 billion, which is still a staggering amount. All in all, market-wise, this token has been performing well, at least for the time being.

How to Purchase Dogwifhat (WIF)

So, are you looking to buy some Dogwifhat? Well, because of its recent surge, you might find it on many popular exchanges these days, like Binance, HTX, KuCoin, Kraken, and more. But do know that, depending on the exchange you’re buying it from, the process will definitely vary.

However, what will also vary are the buying options that these exchanges will provide. If you don’t plan on doing anything too complicated, executing a simple swap will be in good order, assuming that’s supported.

But if you plan on engaging in more complex trading, then depositing it on the exchange for that will be better. So, if you’re going for the latter, then having a ton of trading pairs supported for the token will be necessary, and fortunately, that may well be the case, especially on Binance.

Community and Cultural Impact

Suffice it to say that the Dogwifhat token’s success has had some form of impact, enough for it to spawn a token riding on its coattails, such as Catwifhat. It won’t be surprising if some other animal-themed Wifhat tokens spawn too, like Foxwifhat, Whalewifhat, or whatnot.

After all, its success has been that lucrative, and it has turned many heads, particularly within the meme token community. 

Altogether, it has shown signs of being culturally significant, at least within the confines of cryptocurrency. But what about outside the sector? Well, we can’t be too sure of that, since meme tokens aren’t exactly looked at that fondly by many outside the boundaries of cryptocurrency and even within.

Investment Considerations

But if you’re thinking of investing within this token, and if you’re new to the space, then there is a lot for you to consider. Firstly, cryptocurrencies in general can be incredibly volatile, and that is especially the case with meme tokens.

Just as it has climbed so high so quickly, chances are it can easily fall that low, and you don’t want to be at the end of that. Many have bought into the craze only to be burnt badly. A lot were even foolish enough to invest their life savings into some tokens only to then lose it all in one fell swoop. 

Yes, right now, the token is performing well, but there is no guarantee whatsoever that it will still continue that momentum. Many who are intimately familiar with the cryptocurrency landscape may remind you of the fairly recent bear market that the cryptocurrency sector just climbed out of and how bad and sudden the losses seemed.

So, do not invest more than you can afford to lose in any token for that matter, let alone meme tokens of all things. Also, since the landscape seems to be growing, this is the perfect chance for rug pull schemes and all kinds of fraudulent tokens to pop up, promising to go to the “moon.” So, now is the time to be on your guard.

Future Prospects

So, if you’re curious about the future of this token, then the answer to that, at least when the long term is considered, is that there is no certainty of any value accruals. Things can just as easily go wrong as they can go right.

Still, if it is able to continue its current momentum, then it can go over $5 or $6. Or, if it falls hard, then it may just end up adding some form of utility to itself, like many other meme tokens, or it may not. Regardless, the community, at least for now, seems active and there’s much to be seen in the form of engagement, which can be a good thing. 

However, even with all that, there can still be some market dynamics you can be on the lookout for that can affect its price. One example would be a tweet from Elon Musk, which all these dog-themed meme tokens seem to be aiming for.

If it’s not Elon Musk, then some other celebrity perhaps, a partnership of sorts, maybe a P2E game, or some unique feature that could enhance its utility. And that’s pretty much it. Beyond social media and that buzz, though, there’s not that much, or at least anything concrete, in the way of factors affecting the prices of these tokens.

Conclusion

Dogwifhat’s climb towards the top has certainly attracted the attention of many, and there is quite a bit of buzz around this token, considering how quickly it has gained so much value.

Beyond that, though, there’s not much going for it in the form of utility, besides being another vehicle for speculation within the cryptocurrency landscape. Because of that, you’d do well to be a bit cautious and not invest too much of your savings here, for you’d never know when things could go downhill, particularly when meme tokens are concerned.

We Coin-Labs.com provides only objective information about Dogwifhat (WIF).
Therefore, we are not responsible for the investment decision in Dogwifhat (WIF) and the resulting loss.

Dogwifhat (WIF) Basics

Here are some factors that investors should consider before investing in Dogwifhat (WIF).

Cryptocurrency Features	Dogwifhat (WIF) ()
Publisher or Developers
Headquarters (Registration Number)
Symbol
Platform
Published Date (CMC Registration)	2024-10-02
Max Supply	958,691,258,152,859

Reliability Score of Dogwifhat (WIF) in 2024

These are indexes mesuring the investment reliability of Dogwifhat (WIF) conducted by Coin-Labs.com.

Investment Reliability Rating Items	Scores and Current Status
Company Activation Rate	/ 10.0 CAR
Communication Rate	/ 10.0 CR
Technology Transparency Rate	/ 10.0 TTR
Development Participation Rate	/ 10.0 DPR
Listing Status on the World's Top 10 Exchanges	Listed on 0 Exchanges
Number of Available Pairs Worldwide	1 Pairs
Market Cap of the Cryptocurrency	6,683,329 USD (Rank #1295)

The table above shows the result of investment suitability evaluation for Dogwifhat (WIF).
Check out how we evaluate cryptocurrencies on the crypto rating description page.

Dogwifhat (WIF) Price

Here are the price and recent trading volume of Dogwifhat (WIF). (Data of 2024-10-03 00:15:00)

Price Items	Price and Trading Volume of Dogwifhat (WIF)
Dogwifhat (WIF) Price	0.000 USD
Price Change 24h	-5.48%
Price Change 7d	-4.99%
Trading Volume 24h	11 USD
Trading Volume Change 24h	-82.47%

Cryptocurrency Metadata

You can check the development status and social media information of Dogwifhat (WIF) through the links in the table below.

Metadata Source	URL
🌎 Official Website
📖 White Paper
🛰️ Source Code (GitHub)
🐦 Twitter
🤖 Reddit
🎺 Message Board

Where to Buy Dogwifhat (WIF)

Here are the top ten world crypto exchanges where traders can buy Dogwifhat (WIF) in 2024.

Top10 Exchanges	Listed Status	Page URL
Binance	Not listed
Coinbase	Not listed
Kraken	Not listed
KuCoin	Not listed
Bitfinex	Not listed
OKX	Not listed
Huobi	Not listed
Bitstamp	Not listed
Bybit	Not listed
Gate.io	Not listed

Frequently Asked Questions