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Thanks to a tremendous 40,000% price growth, dogwifhat (WIF) has soared to become the third-largest dog token with a $1.5 billion market capitalization. WIF’s path, which has the support of prominent figures on Crypto Twitter, demonstrates the value of speculative trading and community support in the meme coin space.
Despite having no intrinsic use, its decentralized model and a limited quantity of 998,906,465.79 coins make it appealing to the community.
In this blog, let’s learn about this trending memecoin and how you can buy WIF in India in 2024.
What is dogwifhat (WIF)?
dogwifhat (WIF) stands out as a Solana-based meme coin centered around a Shiba dog adorned with a pink knitted hat. Unlike projects boasting grand symbols of progress or futuristic ideals, WIF takes a lighthearted approach. Essentially, it’s a meme featuring a Shiba dog wearing a pink-knitted hat, and even the intentional misspelling of “wif” instead of “with” adds to its playful nature.
Despite its simplicity, dogwifhat has captivated the crypto community, surpassing established meme coins like SHIB and PEPE in 24-hour trading volume. The coin’s success is a testament to its whimsical charm and community-driven enthusiasm.
How dogwifhat (WIF) Works?
WIF operates on the Solana blockchain, which is renowned for its swift transactions and efficiency. While lacking a revolutionary use case, WIF stands out in the competitive meme coin landscape due to its distinctive features.
A noteworthy aspect of WIF lies in its ownership structure, emphasizing complete decentralization. Ownership of WIF has been entirely renounced, ensuring no single entity holds control. The creator balance is zero, preventing undue influence from the coin’s originator. The Token Update Authority balance is also zero, reinforcing a commitment to community-driven development.
This commitment to decentralization distinguishes WIF, alleviating concerns about centralization that often overshadow other meme coins. WIF’s lack of a central authority empowers the community to shape the coin’s future.
Key Features of dogwifhat (WIF)
- Swift Transactions: Enjoy rapid transactions on the dogwifhat network, facilitating prompt and efficient payments.
- Robust Security: Benefit from top-tier blockchain technology, assuring the security of every transaction within the dogwifhat network.
- User-Friendly Design: Navigate the dogwifhat platform seamlessly with its intuitive interface, ensuring easy access and utilization of the provided services.
dogwifhat Fundamental Analysis
The fundamental analysis of dogwifhat (WIF) encompasses critical factors influencing the project’s value and growth potential. Key aspects considered in this analysis include:
- Technology: Leveraging advanced blockchain technology, dogwifhat ensures secure, speedy, and efficient transactions within its network.
- Team: The dogwifhat development team comprises experts in cryptography, blockchain technology, and software development, demonstrating the experience and dedication required to propel the project forward.
- Community: The dogwifhat community experiences continuous growth and active participation, with many users contributing to the network’s development and usage.
- Adoption: dogwifhat has achieved widespread adoption and has an increasing user base and transaction volume within its network.
Buying dogwifhat (WIF) in India
Below are a few simple steps you can follow and buy the WIF token in India with WazirX, India’s most trusted and widely used crypto exchange.
The best way to buy WIF tokens is by depositing INR in your WazirX wallet. Alternatively, you can also buy WIF using P2P trade; to get answers to all your queries related to the P2P trade, click here!
Step 1 – Sign-Up on the WazirX platform
To begin buying and selling WIF, you are required to create an account on the WazirX platform by signing up. Also, you can directly login if you have an account already on the platform.
For your reference, here’s how you can open an account on WazirX.
Step 2 – Set up your account security by verifying your email address.
This step is about verifying your email address. After you sign up on the WazirX platform, you’ll get a verification link on your registered email. By clicking on that link, you’ll get two options to ensure the security of your account – the authenticator app and mobile SMS.
Note: The authenticator app is a more secure way to stay safe when compared to mobile SMS because there’s a risk of delayed reception or SIM card hacking.
Step 3 – Complete the KYC process.
After choosing your country, you can proceed with completing the KYC process. Click here for a detailed overview.
Note: You must complete your KYC to be able to trade P2P or withdraw funds on the WazirX app.
Step 4 – Add funds to your WazirX wallet.
To add funds, simply go to your account on the WazirX app or web. Click on “Funds” and then on “Deposit INR.”
You can deposit INR using any mode (NEFT/ RTGS/ IMPS).
You can also buy WIF through P2P to the WazirX wallet. The WIF will act as funds to help you buy your favorite cryptos.
Step 5 – Finally, buy WIF on WazirX.
You can now easily purchase WIF tokens using INR Deposits. In the case of P2P trade, check WIF to USDT from here.
After logging in to your WazirX account, you can choose INR from the “Exchange” tab. You can also check all the price charts, order book data, and an order input form on the right side of the screen.
Click “Buy” after entering the amount and checking the total INR amount to be paid.
Your order will be placed according to the price you have input. And, in the case of P2P trade, a seller willing to sell at a price will be notified, and then you can exchange the tokens using P2P.
It might take a few minutes for the order to be completed, but as soon as it is executed, you will receive the WIF Tokens you purchased in your WazirX wallet.
Is dogwifhat Coin a Good Investment?
Following are the points that you can consider before investing in dogwifhat:
- Small Market Cap: With a market capitalization slightly above $1.6 billion, dogwifhat presents an attractive entry point for new investors, potentially outperforming other meme coins even with a modest 10x increase.
- Rapid Growth Since Launch: Since its mid-December 2023 launch, dogwifhat has exhibited remarkable growth, yielding nearly 1118% gains for early investors, surpassing broader cryptocurrency market performance.
- Strong Daily Trading Volume: With over $362 million in trading volume over the last 24 hours, dogwifhat ensures sufficient liquidity, facilitating convenient market entry and exit—a rarity among new cryptocurrencies.
- Presence on Leading Exchanges: Despite its three-month trading history, dogwifhat is listed on major exchanges like MEXC, Kraken, KuCoin, and Gate.io, as well as decentralized platforms like Orca and Raydium.
- Low Token Price: Currently trading at just over $1.75, dogwifhat allows investors to acquire a substantial number of coins with a modest investment.
- Solana Meme Coins Trend: Solana’s popularity extends to meme coins, and successful projects like Bonk and Myro Coin have experienced significant gains. dogwifhat investors aim for a similar trajectory amidst the Solana hype.
- Recent Meme Coin Surge: The past month witnessed a surge in interest and prices of meme coins, with notable increases in Pepe (325%), dogwifhat (418%), Shiba Inu (128%), and Smog (118%). This trend underscores the current market enthusiasm for meme-based assets.
