The post WHY memecoin: Can it be the next Dogecoin after touching $100M? appeared on BitcoinEthereumNews.com.

WHY attempts to make its way into the mainstream with its brief push above $100 million market cap. This article explores further details including its involvement with BNB chain, and tokenomics. Elephant-themed memecoin WHY made its way into unexplored territory on 22nd July after its market cap clipped the $100 million mark. This move also resulted in it achieving a new all-time high, hence warranting some investigation. WHY price recap WHY’s impressive market cap gain allowed it to secure a 50% upside from the day’s low of $0.0000002194. The rally allowed to peak at $0.0000002491, which is its new ATH so far. Although impressive, its price action has since regressed back to pre-pump levels. Shaving off roughly $7.4 million from its market cap. source: Coinmarketcap The performance in the last 24 hours had the makings of a pump and dump. However, zooming out to the weekly performance revealed that it had been rallying for the last seven days. In fact, it still traded at a 31% weekly premium despite wiping out its progress in the last 24 hours. WHY, the elephant in the room WHY’s price action in the last few days signifies the start of bullish momentum. Address activity may offer insights into what’s going on. Lookonchain revealed that new wallet addresses were recently created and used to purchase WHY with BNB withdrawn from Binance. Those reportedly created addresses raise suspicion that the move may have been aimed at bringing more attention to the WHY memecoin. Especially when you consider that the gains in the last 24 hours were wiped out and price returned to the same pre-pump levels Is it worth the hype? Perhaps “why” is not the question but “what.” On the surface it may appear as just another memecoin in a segment currently saturated with memecoins.…

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Filed under: News - @ July 23, 2024 10:22 pm