WIF and Shiba Inu (SHIB) are stirring the meme coin market. New changes are grabbing investor attention, showing how quickly crypto can shift. WIF is particularly noticeable in these new trends.
Also Read: Cardano ADA Struggles, Falls Out Of Top 10, What’s Next?
DogWifHat and SHIB Lead the Charge in the Volatile Meme Coin Market
WIF Defies Market Trends with Impressive Surge
WIF’s price is up 18.7% on daily charts, with fewer traders losing bets. Analysts like this. But watch out: WIF’s price swings wildly at 24.14%. Trading volume jumped 57.27% to $386 million in 24 hour. Similarly, its market cap grew 17.84% to $1.7 billion. This shows how risky meme coins can be. As you know, they’re unpredictable, so stay alert.
Shiba Inu Founders Announce Plans to Step Down
In a surprise move, Shiba Inu’s anonymous founders, Shytoshi Kusama and Kaal Dhairya, revealed plans to hand control to the community by year-end.
This bombshell was dropped during an AB Majlis podcast interview that focused heavily on decentralization, similar to WIF’s strategy.
Kusama stated: “At the end of this year, we will hand everything over to the community, and we step away.” He emphasised that this move is not about abandoning the project but rather “empowering the community even more than they already have.”
Community Empowerment: The Future of SHIB
Kusama emphasised the importance of community in the SHIB ecosystem, stating:
“There’s no need for my face to become a public figure. Let the mask remain famous. The power of SHIB is not because of me or because of Kaal, it is because of the community. And that is what is most important: the technology to take Web 2 to Web 3 and the brand of a very special dog breed that has gone viral many times as a meme.” Similarly, the future of WIF could also depend on its community-driven approach.
Kaal Dhairya echoed this sentiment, adding:
“We are normal community members. We started off by buying tokens off the exchanges like everyone else. And we just took the experiment and the vision that was laid out by Ryoshi to its completion.”
Also Read: What is Shibarium?
Market Implications and Investor Sentiment
WIF’s price surge has fewer liquidations in the long position. Analysts see this as positive, and they have reasons to. We recommend caution, as WIF’s volatility is still high at 24.14%. This level of volatility is a perfect example of how easily WIF can change course.
Meanwhile, Shiba Inu’s latest announcement is drawing attention. Their shift to more decentralization could lessen worries about limited adoption and central control in crypto.
What Is The Future of Memecoins?
WIF rises and Shiba Inu prepares for change, hinting at memecoin market growth. Dhairya called their anonymity a “superpower,” saying, “That is the way that we can blend in with the community and get their input when we need to, and we can just get the true honest feedback when we need to.” This mirrors WIF’s approach to anonymity.
Also Read: Top 3 Cryptocurrencies For Healthy Gains In September 2024
These developments in the WIF and Shiba Inu ecosystems show just how quickly the meme coin market can change.
WIF’s price jump shows the potential for big short-term gains, while Shiba Inu’s move towards community governance tackles long-term concerns about decentralisation and adoption.
As always, do your homework and remember crypto’s high volatility and regulatory uncertainties before jumping in. Pay particular attention to WIF due to its high volatility.