WIF breaks all-time high, "MEME Season" returns again?

On March 29, WIF broke through $3.98 this morning, setting a new all-time high. It is now quoted at $3.8817, a 24-hour increase of 24.16%. Even though the market has been rising in the fields of AI, chain games, cross-chain, RWA, etc., its offensive is still not as strong as MEME. MEME is still the focus of this bull market.

WIF reaches a new high again

WIF can be said to be the "back wave" of MEME. As a community without , a project without a narrative opening, achieved a 10,000-fold increase in less than 4 months after its establishment, becoming the first Dogecoin to break through 1 US dollar. As WIF was listed on Binance, the price was pushed all the way to highs along with sentiment before falling back slightly.

Related reading: " Review of WIF: Another 10,000-fold coin on Solana, how did "Hat Dog" get rich? 》

In the process of WIF achieving ten thousand times, in addition to BitMEX co-founder Arthur Hayes and other KOLs who have been optimistic, there are also believers. According to on-chain analyst Ember Monitoring, since December 13, 2023, the address wifto100billy.sol began to purchase WIF, and has spent a total of US$9.33 million in funds to buy 37.62 million WIF (3.76% of the total WIF), becoming the largest WIF The personal/institutional currency holding address.

The average purchase price of wifto100billy.sol is US$0.248. It transfers all purchased WIF to the wifto100billy.sol address for storage, and has not yet started selling to take profits. According to birdeye data, the price of WIF has been rising after trading sideways at $2 for several days, breaking through $3.98 today, hitting a record high. The largest holder of WIF currently has a profit of 1440%, with a floating profit of US$134 million.

WIF’s new high again Attract market attention to MEME. Solana is still the main battlefield for MEME hype, and the “divine disk” BOME once brought a wave of MEME pre-sale frenzy. Although the price fell back after being listed on Binance, it still increased dozens of times according to the bottom. Now in the new round of MEME craze, the price is still showing an upward trend. At the time of writing, BOME price is $0.0135, up 11.55% in 24 hours.

In addition to Solana MEME, other ecological MEMEs have also begun to exert their influence. Among them, according to Bitget data, Dogecoin DOGE has a 24-hour increase of 9.8%, ranking among the top three in the transaction volume list; PEPE has a 24-hour increase of 3.8%; Base ecological MEME currency DEGEN has a 24-hour increase of 74.2%, ranking among the top three in the real-time increase list.

DEGEN is a MEME project that is truly community-led. It emerged from the Farcaster community. Its emergence also increased the exposure of the Base ecosystem, and its TVL exceeded US$2.5 billion. , reaching a record high, and Base’s MEME has been talked about for this reason. Hundreds of smart money addresses have ambushed the Base ecological MEME.

Related reading: " Tracking 200 smart money addresses, which MEMEs on Base did they ambush? 》

MEME season returns?

Today, the market still lacks a mainstream narrative that can compete with Bitcoin ETFs. MEME currency has therefore taken on the sentiments of crypto players, and there are even "value is not interesting" , you have to look at MEME to make money.”

With more and more ways to play MEME, the market has taken turns rising in various sectors some time ago, such as the AI craze driven by GPU and AXL driving cross-chain interoperability. , ONDO brought RWA narratives, etc., but its popularity did not last long, and each track can still create countless MEMEs for retail investors to hype. On March 29, according to alphascan data, judging from the current market sentiment, among the top ten cryptocurrencies, the MEME sector occupied 3 places.

Messari Vice President of Research Maartje Bus said, “MEME coins will continue to be an important part of the cryptocurrency market and have the potential to become a new asset class. Cryptocurrencies are often criticized for not having use cases for ordinary people, which is a fair comment. But in fact , MEME coin has been successfully attracting people to the chain."

However, MEME itself has no actual value. BlockBeats reminds readers to be cautious when investing and pay attention to the details.