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Highlights
- Like Dogecoin, WifeDoge is a meme cryptocurrency.
- In Canada, the WifeDoge crypto's name surfaced on the trending charts as it recorded an increase of 475 per cent in its 24-hour volume.
- The value of each WifeDoge will be equal to the value of Dogecoin.
After a jolt following China's move of making cryptocurrency transactions illegal, cryptocurrencies recorded price and volume surges as the market witnessed low-level buying from crypto traders.
As the world's oldest cryptocurrency Bitcoin (+0.4 per cent) and alternative cryptocurrencies to Bitcoin surged on Monday, September 27, the total market capitalization of the crypto industry was over US$ 2 trillion after a jump of 0.9 per cent in the last 24 hours, according to CoinGecko.
Another Meme Dogecoin clone’s volume skyrockets
In Canada, WifeDoge crypto's name surfaced on the trending charts as it recorded an increase of 475 per cent in its 24-hour volume. At 8:30 AM EST, WifeDoge's volume was $1,363,707 and the price had surged by eight per cent to US$ 0.000000000032 per token.
Also read: dYdX outdoes Coinbase for all-time high. What’s its price prediction?
What is WifeDoge?
Like Dogecoin, WifeDoge is a meme cryptocurrency. It aims to improve upon Dogecoin through faster transaction speeds and increasing the deflationary attributes to reward users.
The users of WifeDoge are given a percentage of every transaction that occurs. As per the project's website, users start making money automatically when they hold WifeDoge. It was launched in July 2021 and as it is more or less like Dogecoin, this cryptocurrency was dubbed its 'wife'.
Tesla CEO Elon Musk's name is associated with this cryptocurrency as he has previously caused a change in prices of Dogecoin tokens in several instances. Four days after its launch on Pancakeswap, WifeDoge took to Twitter and thanked Mr Musk for tweeting about it. It also promised to surprise global investors more in the future.
The value of each WifeDoge will be equal to the value of Dogecoin and as Elon Musk has indicated about his interest in Dogecoin and Baby Doge, WifeDoge has announced on its website that five per cent of the total of WifeDoge crypto would be reserved for Mr Musk. The website mentions that these WifeDoge coins would be given to him at the right time and then they will be locked forever.
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Bottom line
According to CoinGecko, the price of the WifeDoge cryptocurrency surged by 700 per cent in the last 30 days. However, the price declined by 6 per cent in the last 14 days and 14.7 per cent in the past week.
Also read: PowerPool volume up over 1,000%. What is CVP coin’s price prediction?
Seeing the record over the years, crypto analysts often advise traders not to invest immediately in newer cryptocurrencies. As WifeDoge is a new token, there is no record to check, so it is advisable to wait and observe before investing in it.
