Wifecoin or Wifedoge , the cryptocurrency thought-about to be the “spouse” and clone of Dogecoin (DOGE), has considerably elevated its market capitalization. It jumped over 3,000% in a single day, in response to statistics from CoinMarketCap . Elon Musk’s assist has one thing to do with it, however is it for as a lot that it’s applicable to take a position on this digital asset? (Additionally Learn: JPMorgan analyzed the current position of Bitcoin (BTC) and other cryptocurrencies)
Elon Musk , a pillar of Wifedoge’s progress ?
On Tuesday the thirty first, the Wifedoge efficiently traded the market cap of $ 2.32 million , which corresponds to of 3,294.29%. Nonetheless, the DOGE “spouse” failed to remain the course. On Thursday, September 2, its market capitalization fell to $ 301,406. (Should Learn: Cheap electricity attracts Bitcoin (BTC) miners to Venezuela)
Wifecoin is a cryptocurrency that seems to be a parody of Dogecoin which, too, was launched with the intention of parodying Bitcoin (BTC). Its creators make sure that the worth of every Wifecoin token will be equal to that of Dogecoin (DOGE). That is nice information for traders, contemplating that DOGE has elevated its worth by 4,600% in only one yr. Furthermore, Elon Musk and Mark Cuban take into account it to be the “strongest” cryptocurrency.
— WIFEDOGE (@wifedoge) August 3, 2021
The creators of Wifecoin have additionally introduced that they are going to reserve 5% of the Wifedoge models for Elon Musk . “We are going to give them to you on the proper time, in any other case 5% of the tokens might be blocked without end,” learn a tweet from the Wifecoin account .
WIFEDOGE PRESALE START ON DXSALEhttps://t.co/6g7nlv8sll
— WIFEDOGE (@wifedoge) July 11, 2021
Why such a beneficiant gesture on the a part of the creators of the cryptocurrency? They’re hoping that this “meme of the meme” will achieve the assist of Elon Musk , whose opinion performs on the worth of digital belongings. Whereas ready for him to attract consideration to the “spouse” of DOGE, the creators of Wifecoin needed to specific their gratitude on Twitter .
“Thanks Elon Musk. I’m Wifedoge. Doge’s spouse! Now could be the fourth day of launch on Pancakeswap! Thanks for tweeting to assist Wifedoge. Belief us, we’ll quickly shock international traders much more. Our staff works onerous, ” learn one other tweet.
Thanks Elon Musk❤️ I’m Wifedoge. Doge’s spouse! Now could be the fourth day of launch at Pancakeswap! Thanks for tweeting to encourage Wifedoge 🤪Imagine us, we’ll quickly shock international traders much more. Our venture staff is working onerous#wfiedoge #dogecoin #doge #PancakeSwap pic.twitter.com/HAwvYKDjA7
— WIFEDOGE (@wifedoge) July 25, 2021
Investing in Wifedoge , plan?
Do you have to put money into the Wifedoge ? That is the query traders are asking themselves. The specialists have a constructive response. Not less than they argue that the vertiginous ‘ups and downs’ of digital belongings are brought on by the fraudulent manipulation of the cryptocurrency market , which causes lots of people to lose cash.
“The sharp rises and falls within the worth of belongings with low liquidity are sometimes the results of fraudulent manipulations referred to as ‘pump and dump’ which consist in inflating their worth after which promoting it at overvalued costs. The dearth of regulation within the cryptocurrency market implies that many traders fall sufferer to this scheme, ” RT stated.
The selection of whether or not or to not put money into Wifedoge is purely and strictly private , as can be the case for all different cryptocurrencies. If you wish to make investments, make investments solely what you may afford to lose . That is one option to shield in opposition to fluctuations in digital belongings. Both approach, proudly owning cryptocurrencies, which may skyrocket in worth by over 3,000% in 24 hours, is all the time helpful.
Wifecoin , the “spouse” of Dogecoin (DOGE) continues to make headlines within the cryptocurrency world. Supported by Elon Musk and Mark Cuban , DOGE has gained sturdy recognition and elevated in worth. Evidently his “spouse” will observe the identical path. In the meantime, inside 24 hours, its market capitalization elevated to three,294.29%.