Memecoin Mania Returns as Catwifhat (CWIF), LandWolf (WOLF), and PAW (PAW) Soar High
- PHPzOriginal
- 2024-07-30 12:15:171016browse
Markets experienced an upswing this week, driven by the excitement surrounding Donald Trump's presence at the Bitcoin 2024 conference.
Markets experienced an upswing this week, driven by the excitement surrounding Donald Trump’s presence at the Bitcoin 2024 conference. Memecoins were quick to capitalize on the larger hype.
The excitement about the 2024 BTC conference attracted investors as BTC saw a rebound from $64K to $67K.
In addition to large-cap cryptocurrencies, another sector captured investors’ attention: memecoins. Apart from the previous months, when we saw the rise of memcoins, this week continued the trend.
Catwifhat (CWIF), LandWolf (WOLF), and PAW (PAW) emerged as the top weekly performers in the memecoin sector.
Catwifhat and PAW crypto saw a strong rebound from the lows. Additionally, LandWolf experienced the breakout of a correction phase. Let’s analyze each one individually.
Catwifhat Gained Popularity With Airdrops, Meme Culture
Catwifhat gained popularity as a deflationary memecoin within the Solana community in early 2024, following airdrops to over 1.6 million holders.
Inspired by the hit meme dogwifhat, Catwifhat employs a burn fee using Solana Token Extensions, automatically burning 4% of CWIF from every on-chain transaction.
The CWIF/USD daily chart highlighted a strong rebound in the recent session, contributing to massive growth. The recent surge marked the end of a prolonged two-month correction phase.
At press time, CWIF was hovering close to the $0.0000012 mark, with an intraday drop of over 5%. Despite the intraday fall, Catwifhat emerged as the top weekly memecoin gainer, recording a gain of over 68.69%.
LandWolf Also in the Memecoin Race With Community Engagement
LandWolf aims to provide a unique value proposition within the crypto space, leveraging community engagement and innovative features to attract investors. It has a circulating supply of nearly 10 Billion WOLF tokens.
LandWolf crypto emerged as the second top weekly memecoin gainer, adding nearly 56.8% a week to the investors’ portfolio. WOLF was down over 5.6% intraday and had a live market capitalization of $124.88 Million.
Moreover, the daily transaction volume has jumped nearly 6.04% to $1.168 Million initraday. The volume-to-market cap ratio stands at 0.92%, suggesting very low volatility.
From a technical standpoint, LandWolf crypto was above the key 20, 50, and 200 day EMA indicating a positive outlook. The EMAs may serve as support if the price sustains.
PAW Chain Introduced Layer 3-Centric Blockchain for Scalability
PAW Chain has introduced the world’s first Layer 3-centric blockchain, significantly improving scalability and inter-chain operability across various networks.
The roadmap includes a decentralized exchange, merchant services, and a DAO designed for high-volume, low-cost transactions. It has a live market capitalization of $19.38 Million and ranks 808th in the crypto-verse.
PAW claimed the third top weekly memecoin, soaring over 46.98%. With a circulating supply of 947.9 Trillion, PAW was trading at $0.0000000202. The transaction volume has dropped by 34.3% to $338.72 Million.
The RSI line was placed at 65.5 points, and the 14-day SMA line was close to 52.6 points. Both the RSI and SMA lines were above the mean line indicating the extension of the bullishness.
The above is the detailed content of Memecoin Mania Returns as Catwifhat (CWIF), LandWolf (WOLF), and PAW (PAW) Soar High. For more information, please follow other related articles on the PHP Chinese website!