Summary
TLDR: Meme tokens like Dogecoin, Pepe, and Dogwifhat have surged in price, raising questions about whether to buy, sell, or hold. Dogwifhat saw a 45% increase due to a successful crowdfunding campaign. While some see meme coins as opportunities for quick gains, others express concerns about market stability and speculative nature. The impact of celebrity endorsements on meme coin prices is significant, but some worry about potential market overheating. Investors face complex decisions due to the unpredictable nature of meme token markets influenced by social media trends.
Key Points
1. Meme tokens have surged around 9.47% on Thursday, nearly hitting the market cap of $66 billion. Dogecoin (DOGE), Pepe (PEPE), and Dogwifhat (WIF) are at the forefront of the price rally.
2. Dogwifhat (WIF) experienced a notable 45% increase on Thursday, reaching an all-time high of $3.45 due to a successful crowdfunding campaign for the “Sphere Wif Hat” campaign.
3. Concerns have been raised about market stability and the potential for a market peak as trading volumes for meme tokens have soared to levels last seen before the 2021 crypto bubble burst.