Following several weeks of bullish trading, the DogWifHat price has taken a double-digit hit. The Solana-based meme coin crashed by over 10%, pushing it below several lines of support. The crash wasn’t an isolated incident, with other major memecoins, such as SHIB and DOGE, also shedding between 5% and 10%.
The Infinaeon presale appears to be immune to the short-term swings of the market. Whales and smaller investors have continued to buy into the presale, which is offering a considerable bonus for early participants.
Due to the token’s deflationary nature and various use cases, many crypto traders expect it to possibly 10X or 100X once it hits major exchanges, which is why they are dropping such huge buy orders during the presale.
This article will examine the recent downturn in the memecoin market, focusing on the DogWifHat price crash. It will also delve into the Infinaeon presale, exploring the factors contributing to its success and analyzing its potential to deliver substantial returns.
DogWifHat Price Tumbles Along With Broader Market
The crypto market finished October extremely strong, with Bitcoin near its all-time high. However, November got off to a shocker. Bitcoin tumbled below $70,000, and Ether drifted towards $2,500. DogWifHat has taken a considerable hit during this downturn.
The Solana-based token first dropped below $2.50 and then touched $2.30, giving up most of its gains from ‘Uptober’. This has left its market capitalization at $2.2 billion, which is around 50% below its all-time high from late March 2024.
DogWifHat is a memecoin, meaning it’s a cryptocurrency that derives its value primarily from community sentiment and online hype rather than any underlying technology or use case. It features a Shiba Inu dog wearing a hat as its mascot and has gained a loyal following on social media.
Being built on the Solana blockchain has likely contributed to DogWifHat’s success. Solana’s high transaction speeds and low fees make it an attractive platform for meme coins, which often experience high trading volumes. Additionally, Solana’s impressive price rally in 2024 has brought increased attention to the ecosystem, benefiting projects like DogWifHat.
Despite its recent price decline, DogWifHat remains one of the most popular and valuable memecoins on the market. Its future performance will depend on factors such as community engagement, market trends, and the overall health of the Solana ecosystem.
The deflationary supply of INF is one of the driving factors behind bullish sentiment.
Infinaeon Holds Strong Even As ETH, SOL, and BNB Crash
The Infinaeon presale has not been impacted by the rough start to November. Whales have continued to accumulate the token, and the project’s social media channels are exponentially growing. The Telegram group alone has 12,000 members. Although the DogWifHat price has been particularly bearish, ETH, SOL, and BNB have not fared much better, as billions of dollars were knocked off their market caps.
So why is Infinaeon withstanding the bearish onslaught?
One reason could be the project’s strong focus on delivering a tangible solution to a pressing problem in the crypto space: Ethereum’s scalability issues. Infinaeon’s Layer-2 solution promises faster and cheaper transactions, making it an attractive alternative for users and developers seeking a more efficient blockchain experience.
Furthermore, Infinaeon’s upcoming decentralized exchange (DEX) and cross-chain bridge further enhance its value proposition. These features provide seamless asset transfers and a user-friendly trading environment, contributing to the overall appeal of the Infinaeon ecosystem.
The project’s commitment to transparency and community engagement has also played a crucial role in its success. The team has actively communicated its progress and plans, fostering trust and confidence among investors. Finally, the presale bonus structure, which currently offers a 6% bonus for early participants, has incentivized investment and contributed to the project’s momentum.
Why Some Traders Think INF Could 100X After Presale
Price predictions for DogWifHat and other meme coins are fairly neutral at the moment. Even the most bullish analysts expect 20-30% returns at best. Infinaeon traders are more optimistic; they expect massive returns, with some even seeing it as a 100X project. The reason for this is partly due to its tokenomics.
Infinaeon’s deflationary model, where a portion of gas fees is used to buy back and burn tokens, creates scarcity and supports the token’s value. This, combined with the project’s auto-compounding staking rewards, offers a compelling investment narrative for those seeking high returns
Join The Infinaeon Presale Now
Presale: https://presale.infinaeon.com/
Telegram: https://t.me/Infinaeon/
Discord: https://discord.com/invite/WSy65uAYfd
X: https://x.com/Infinaeon
Source: https://www.crypto-news-flash.com/infinaeon-bulls-position-themselves-for-major-exchange-listing-as-dogwifhat-price-crashes/?utm_source=rss&utm_medium=rss&utm_campaign=infinaeon-bulls-position-themselves-for-major-exchange-listing-as-dogwifhat-price-crashes