While the cryptocurrency market is relatively stable, memes are experiencing intense activity led by rising prices. Dogwifhat Coin) also known as (Wireless). Today, this coin, built on the Solana network, has set a new record.

Doug Whiffhat Wireless This is a relatively new meme coin that launched on the Solana network in November last year. Despite its modernity, it has managed to reserve a place for itself in the meme market, which is experiencing fierce competition.

The coin started the day at $3.21 and continued to trade sideways until around 9 a.m. ET. Then it suddenly started to rise, hitting an all-time high of $3.90 around 4:30 p.m. EST. It is now trading at $3.81.

This is the coin's best performance since its launch, as it recently outperformed the relatively older Meem coin. PEPE part It rose to 38th place on the list of the 100 largest cryptocurrencies. While Pepe settles in 43rd place with a market value of $3.8 billion compared to $3.37 billion respectively, according to For the data CoinMarketCap platform.

Technical Factors of Dogewave Coin

If all conditions remain the same, there is actually room for further upward movement. The Doge WaveFat coin Relative Strength Index (RSI) is an indicator that measures whether bulls (buyers) or bears (sellers) are present. They control the market – currently 69 points, indicating the possibility of a buying glut.

This means that there is a risk that a large number of holders are waiting for the best time to realize their profits. Which will lead to a price correction.
Read also: Meme whales make millions in profits, but what about the losers?

Additionally, it is difficult to predict the price based on technical analysis. Due to the short lifespan of currency, the amount of historical data available is limited.

It is important to remember that meme currencies are very volatile and are known for their lack of fundamentals. See the Doge Wavehat currency project (Wireless), for example, is literally nothing more than a dog in a hat.

This makes it vulnerable to drastic and unpredictable changes affected by random events. Such as tweets, irrelevant news and market movements of other currencies. These currencies are affected more by market sentiment than any other factor.

The global rise of meme currencies

Other meme coins also performed well today. With Doug Whiffhat WirelessThe four best-performing currencies among the top 100 cryptocurrencies belong to the meme category: Dogecoin +16.83%, Floki +12.7% and Punk (BONK) +10%. If we go beyond the top ten currencies, we also see that... PEPE part It increased by 8.29% and is currently trading at $0.000008293 per coin. And he got up Shiba Inu SHIB Coin +5.85% to $0.00003179, and 65 of the top 100 meme coins made gains in the last 24 hours.

Today was a good day for meme traders in general, but these currencies also tend to crash quickly. It is important to be careful when dealing with these assets due to their volatile nature.