Should you invest in Wifecoin? The new cryptocurrency Wifecoin (the ‘wife’ and clone for Dogecoin) has increased its market capitalization to more than 3000% in 24 hours.
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They launched Wifedoge, a cryptocurrency that is meant to be the wife of Dogecoin. However, it’s essentially a copy of Dogecoin. The token was not only a curiousity in the crypto world, but also had the like of Elon Musk. According to CoinMarketCap data, it experienced a rapid increase of over 3,000% market capitalization within a single day.
The Wifedoge’s market capitalization was 2.32 Million dollars on Tuesday August 31. This is 3,294.29% more than Monday’s 68.350 dollar start.
The streak was broken by the Dogecoin’s ‘wife’ and its capitalization dropped to $ 301 406 on Thursday, September 2.
What’s the Wifedoge?
Wifecoin is the “inception” of cryptocurrency. It was created as parody of Dogecoin, a digital currency, which, in turn, was inspired by a meme about Bitcoin.
Creators guarantee that every Wifecoin token is equal to one Dogecoin. This is great news considering the DOGE’s value has increased by 4.600% within a year. Elon Musk, Mark Cuban and Mark Cuban consider it the “strongest” crypto.
1 WIFEDOGE = 1 DOGECOIN #wifedoge #dogecoin https://t.co/5SMfgSy02P pic.twitter.com/zrxqxfsvqr
– WIFEDOGE / @wifedogeAugust 3, 2021
They also announced they would reserve 5% of Wifedoge units to Elon Musk.
“We’ll give them to your at the correct time. Otherwise, 5% will be permanently blocked,” says in a Tweet from the Wifecoin Twitter account.
WIFEDOGE PRESALE START ON DXSALE https://t.co/6g7nlv8sll
You can reserve 5% for Elon Musk. If you don’t give it at the correct time, the remaining 5% will remain forever. Locked #bsc #wifedoge #dogecoin pic.twitter.com/oX1IHFcMpC
– WIFEDOGE / @wifedogeJuly 11, 2021
The developers of the cryptocurrency “meme of meme” are convinced they have Elon Musk’s endorsement that they thank him on Twitter.
Thank you Elon Musk. I am Wifedoge. Wifedoge is Doge! This is Pancakeswap’s fourth launch day! Thank you for supporting Wifedoge by tweeting. We are sure to surprise even more global investors. Another tweet reads, “Our team is hard at work,”
Thanks Elon Musk, I am Wifedoge. The wife of Doge! Pancakeswap is now on its fourth day! We are grateful for your tweets encouraging Wifedoge. Trust us, global investors will be even more surprised by our efforts. Our project team is working hard #wfiedoge #dogecoin#doge #PancakeSwap pic.twitter.com/HAwvYKDjA7
– WIFEDOGE / @wifedogeJuly 25, 2021
Do you want to invest in Wifedoge’s?
Experts believe that the vertiginous “ups and downs” are due to fraudulent manipulations in crypto markets, which can result in multiple victims.
The sharp rises and falls in price for low liquidity assets can often be due to fraudulent manipulations called ‘pump & dump’. These consist in inflating the value of the asset and selling it at exorbitant prices. RT en Espanol stated that many crypto investors fall prey to this scam because there are no regulations.
Wifedoge’s decision about whether to invest in it or not is similar to any other cryptocurrency: If you have additional money you can lose in the event of a problem, go ahead. You can skyrocket your crypto portfolio by having some tokens.
Publited at Fri, 3 Sep 2021 23.21:52 +0000