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Highlights
- Launched in 2021, the Wolfi (WOLFI) crypto is primarily designed as a DeFi meme token with an aim to bring popular cryptocurrency concepts to the mainstream.
- Dubbed as the people’s cryptocurrency, the Wolfie crypto has been registering big gains of over 1,000% over the past 24 hours.
- At the time of drafting, the WOLFI token’s price was up by 1080% over the past 24 hours.
The overall cryptocurrency market is witnessing a poor run with bigwigs Bitcoin, Ethereum all slipping after seeing gains last week. But one crypto that has been setting the crypto market on fire is the Wolfi (WOLFI) crypto.
Launched in 2021, the Wolfi (WOLFI) crypto is primarily designed as a DeFi meme token with an aim to bring popular cryptocurrency concepts to the mainstream. Unlike older, comparable projects, the WOLFI crypto explains the holder’s concepts such as participation rewards, NFTs etc.
Dubbed as the people’s cryptocurrency, it is also seen as one of the major competitors of SHIBA Inu. On 21 February, the token registered big gains of over 1,000% in the last 24 hours.
Also read: Can recent volume gain reverse Moonbeam (GLMR) crypto’s bearish phase?
Why is WOLFI crypto rallying?
The exact reason of its rally is still unknown. But the price rally has certainly turned some heads.
One of the primary goals of the WOLFI crypto is to act as a bridge to ensure a smooth mode of payment. This would allow the users to seamlessly juggle between its ecosystem and at the same time, help the intermediaries to interact on its platform. Despite this, WOLFI promises the customers of security and transparency to the ecosystem.
Also read: Hasbulla: Crypto genius or smart influencer?
How is WOLFI crypto faring?
On 21 February, the 3415-ranked token was trading at US$0.000001 with a trading volume of US$495,377 over a day. At the time of drafting, the WOLFI token’s price over the past 24 hours saw a boost by 1080%. The WOLFI token has a fully diluted market cap of US $9,754,913 with total supply of 7,167,581,137,207 WOLFI coins.
Conclusion
WOLFI token’s whitepaper claims it is in for a long haul. It did manage to gain a few investors after it was listed on the PancakSwap in January. But since then, it was witnessing a mixed period on the market. This price gain on 21 February has made it one of the top gainers in the market, thus, grabbing the attention of enthusiasts and investors. While a few on Twitter raised questions about whether it is a scam, others suggested it might be a trick or a marketing gimmick to draw investors.
Investors at present should be careful of tokens, which witnesses major price pump as they may suddenly go bust the next day. Investors need to do their research before making their call and not get swayed by a sudden price surge or a dip.
