After its launch, Dogwifhat (WIF) surpassed DOGE, SHIB, and PEPE to become the fourth largest meme coin with a market capitalization of over US $4 billion. It features a Shiba Inu wearing a pink hat and is now community-run after its initial creators.
The coin’s humorous style, widespread use, and remarkable expansion have drawn significant attention.
In this blog, we will discuss the world of Dogwifhat, its features, working, how to buy it, and other factors that make this meme coin so popular.
What is Dogwifhat (WIF)?
Dogwifhat (WIF) is a Solana-based meme coin introduced in November 2023, featuring a Shiba Inu dog wearing a pink knit hat. WIF showcases its meme identity without any vision or any progress for the future. Instead, it pretends itself simply as a meme representing a dog. The spirit of the coin is highlighted by the fact that even the ticker WIF misspells with, in standard meme form.
No staking or burning mechanisms and a fixed supply of around 1 billion WIF tokens. Its value is solely determined by speculative activity and public mood, which causes large dogwifhat price swings.
The price of this meme coin has passed surprisingly because of online social media buzz, endorsements by well-known celebrities, and speculations among the audience. The Dogwifhat price of this coin is often unpredictable in the market due to its independence from traditional assets of a cryptocurrency.
Key Features of Dogwifhat
It is an SPL (Solana Program Library). These tokens represent a standard for producing fungible (interchangeable) tokens on Solana Blockchain. Below are the top features of WIF tokens:
- Fungibility
Since the type and value of each token are the same, they can be used interchangeably.
- Efficiency
SPL tokens, which are based on Solana, profit from the low transaction costs and high throughput of the blockchain.
- Programmability
These tokens can be incorporated into decentralized apps (DApps) on Solana, much like smart contracts on Ethereum, opening up a variety of use cases in industries including gaming and finance.
- Composability
SPL tokens can communicate with other Solana ecosystem programs and tokens, creating a rich platform for intricate DApps.
How Dogwifhat Works on Solana Network?
Dogwifhat (WIF) is a meme coin on the Solana blockchain, which makes fast and low-cost transactions. Solana’s technology allows WIF to be easily traded on platforms like Raydium and Binance, and it can be stored in wallets like Phantom.
Since Solana blockchain supports smart contracts, WIF tokens can also be used in decentralized apps and liquidity pools. The high speed of the network and the ability to handle more than one transaction at once help WIF work smoothly without delays.
How to Buy a Dogwifhat in India?
You can buy this coin through various crypto exchange platforms like Binance. However, it is important to check the reputation score of exchanges before buying the WIF coins. Also, you should check the potential risks associated with the platform.
These are the following steps to buy the WIF Coin:
Step 1: Create an Account
Create an account on the exchange platform that supports the buying of WIF coins. Then share your details, like phone number, email address, and ID requirements, with your KYC process.
Step 2: Fund your account
After creating your account, fund your account on the exchange via credit/debit card or bank transfer.
Step 3: Buy WIF
Go to the buy section of the exchange and select WIF as the cryptocurrency to buy. Then use the funds in your account to buy the coin.
Step 4: Transfer WIF coins into a crypto wallet
It is always advisable to secure your WIF coins by moving them into your wallet. However, this is not a compulsory step; it solemnly depends on the user.
Step 5: Verify and Confirm
Before proceeding with the confirmation process, please check all the details carefully, make sure that these details are correct, and then verify the process.
Tokenomics of Dogwifhat
Dogwifhat (WIF), a meme coin built on the Solana blockchain has the following key features:
- Token Name: BERA
- Total Volume: $373.36 M
- Market Cap: $555.60 M
- Circulating Supply: 998.93 M
- Total Supply: 998.93 M
- Price: $0.56
- Category: Solana-based dog-themed meme-coin
- 24-Hour Trading Volume: $315.30 M
- All-Time High: $4.85
How to Store Dogwifhat?
To store this coin, you can select any wallet related to your requirements. For example, short-term trading storage or long-term trading storage
For short-term trading, the wallet is called a software wallet, which can securely store, send, or receive WIF coins. This type of wallet is easily accessible and user-friendly.
Hardware wallets are tools for storing cryptocurrency in offline mode. They are generally very secure against online hacks and scams.
Some of the software wallets that are compatible with WIF coins are
- Phantom Wallet
- Trust Wallet
- Gem Wallet
- Guarda Wallet
- Solflare Wallet
Some of the hardware wallets that are compatible with WIF coins are
- Ledger
- Safepal
- Onekey
Should You Invest in Dogwifhat?
The buzz around Dogwift has people thinking that it will be a good investment. As the future of the crypto market is very unpredictable, it is important to weigh the token limitations.
The social media sensation has made this meme coin a good choice for investment and become one of the most prominent coins in the industry. However, the longevity of such popularity cannot be determined, so investors must carefully evaluate the Dogwifhat price.
There are questions around the coin to sustain the momentum around it, and only an upcoming time will answer this question. Therefore, it is advisable for investors to seek the help of financial advisors and to research cryptocurrency on their own.
Conclusion
The future is full of exciting prospects for additional innovation, community-driven projects, and possible expansion in user adoption and market impact as this meme coin keeps developing and adjusting to the shifting market conditions.
Offering a different and entertaining entry point into digital assets, this platform offers investors and enthusiasts a good chance to investigate the relationship between meme culture and cryptocurrency.
Through the WIF is a meme-inspired future, users can take part in the platform’s development, support its community-driven projects, and even profit from the continuous expansion and development.
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FAQ’s
1. What is Dogwifhat Worth?
The current price of dogwifhat is $0.56 per WIF with a circulating supply of 998,84 million and a total market cap of $566 million.
2. What is Dogwifhat Use for?
WIF enables all the transactions on the network and governance. In return, it rewards network participants.
3. What Does the Dogwifhat Coin Do?
The native cryptocurrency of this platform, the WIF coin, is utilized for community involvement, governance, and commerce.
Greetings, I am Toishaa soni, a dynamic content writer and skilled crypto & blockchain analyst, dedicated to staying ahead in the fast-evolving cryptocurrency world. I am passionate about diving deep into over 1000+ crypto news updates daily, which helps me spot trends, uncover market insights, and deliver thorough analysis that empowers my audience to make informed decisions. My expertise is translating complex market movements into engaging, easy-to-understand content, making me a trusted voice for novice and seasoned crypto enthusiasts.
