Table of Contents
With the beginning of the new month, the crypto market is back in the green today as its total valuation jumps 4.8%, and there are some trending projects to keep an eye on this week. As the crypto market is known for its volatility, memecoins always top the list in this.
dogwifhat (WIF), Ethereum Naming Service (ENS), and Bonk (BONK) are the top cryptos to watch this week. Let’s have a detailed overview of each crypto.
#1 dogwifhat (WIF)
dogwifhat (WIF) stands out as a Solana-based memecoin 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 memecoins like SHIB and PEPE in 24-hour trading volume. The coin’s success is a testament to its whimsical charm and community-driven enthusiasm.
The price of dogwifhat (WIF) on WazirX is INR 202.045 today. According to CoinMarketCap, the 24-hour trading volume is $406,787,147, with a circulating supply of 998,845,824 WIF and a market cap of $2,234,164,334.
dogwifhat (WIF) has surged recently due to its exceptional performance in the memecoin sector. Analysts highlight its robustness in the current bullish market phase, predicting that top-performing memecoins will retain their appeal. Despite the market’s saturation with new memecoins, capital continues to flow towards established altcoins. This trend suggests that standout memecoins like WIF will keep attracting investor interest. Prominent analysts have been expressing strong confidence in WIF, recommending it as a valuable investment amidst favorable market conditions for prominent altcoins.
#2 Ethereum Naming Service (ENS)
The Ethereum Name Service (ENS) is a decentralized, open, and expandable naming system built on the Ethereum blockchain. ENS transforms human-readable Ethereum addresses, such as john.eth, into the machine-readable alphanumeric codes familiar from wallets like Metamask.
ENS aims to simplify users’ access to and understanding of the Ethereum-based web, much like the Domain Name Service (DNS) does for the Internet. Like DNS, ENS employs a dot-separated hierarchical naming system called domains, where domain owners have complete control over their subdomains.
The price of Ethereum Name Service (ENS) on WazirX is INR 2,804 today. According to CoinMarketCap, the 24-hour trading volume is $167.55M, with a circulating supply of 31.64M ENS and a market cap of $1.01B.
The Ethereum Name Service (ENS) token has surged recently, gaining over 20% in the last 24 hours, due to growing anticipation for the upcoming ENSv2 upgrade. This upgrade aims to improve the efficiency and scalability of the naming service, driving increased investor interest. According to Coingecko, ENS jumped from $26 to a peak of $33.1, representing nearly a 30% increase. Despite a slight drop to $31.6, the token remains significantly higher than its previous value.
#3 Bonk (BONK)
BONK, Solana’s pioneering dog-themed coin, prioritizes community inclusivity by airdropping 50% of its supply to Solana users. Launched on December 25, 2022, it spurred a 34% rise in SOL token prices within 48 hours, with trading commencing on December 30, 2022, garnering attention from the crypto community. The team’s core mission is to restore liquidity to Solana DEXs, foster a universal community coin for all Solana dApps, and aim for equal participation in the ecosystem. The project has a modest online presence and conducted random airdrops to Solana NFT collectors, developers, and artists.
The price of Bonk (BONK) on WazirX is INR 0.0022970 today. According to CoinMarketCap, the 24-hour trading volume of BONK is $356.95M, with a circulating supply of 68.56T BONK and a market cap of $1.77B.
Solana-based meme coin Bonk (BONK) has surged recently, gaining 10% and outperforming other popular meme coins within the top 100 cryptocurrencies. Trading at $0.000025 with a market capitalization of $1.77 billion, BONK has seen its daily trading volume double to around $350 million. This surge is largely attributed to the BONK x Helio Pay treasure hunt event in London, which has increased interest and optimism among traders. Technical indicators show bullish trends, suggesting further potential price increases as BONK approaches critical resistance levels, possibly signaling a significant breakout.
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
