We published a report on it several days ago. 

When we published the report, WIF traded at around ~$0.03.

This morning, it is already up to a high of $0.23. That’s almost a 700%  increase in less than one week.

And if you are in our Discord community, you probably got in much earlier when we shared the update on Discord to ride the 12000% ride.

Disclaimer: Not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.

But Cryptonary, is this the end for WIF? NO!

Of course, after such a phenomenal run, taking out your initial investment and securing some profits would be wise.

That said, we believe $WIF still has a lot of room for a run for the following reasons.

Mechanics of memecoins

There are thousands of memecoins in the market, but most of them are rug pulls.

So, why are we still confident about WIF?

So far, only about five meme coins have really taken off - Shiba, Doge, Pepe, Bonk, and now WIF.

Getting a memecoin to check the boxes of virality, devs, and community is a tough nut to crack, and WIF has cracked it.

WIF has ticked all the right boxes to become a serious contender among meme coins. 

• LP burnt

"LP burnt" means that the liquidity tokens representing the contributed funds have been sent to an irrevocable address, essentially removing the ability to access or control those funds. This is a positive sign because it ensures the project's liquidity is secured and cannot be withdrawn or manipulated maliciously by the developers.

• Mint auth revoked

The ability to mint new tokens is a crucial power that developers often have during the early stages of a project. "Mint auth revoked" means that the developers have intentionally disabled their ability to create new tokens. This is usually done to prevent any potential abuse, such as excessive token issuance that could dilute the value of existing tokens.

• Dev didn’t send any supply/hold any tokens

And lastly, the fact that the devs don’t hold any token aligns the developers' incentives with the community's.  This is a positive practice because it reduces the risk of developers selling off their tokens in large quantities, potentially causing a significant drop in the token's value.

Where is WIF going next?

Bonk has a $1.4 billion market cap.

WIF’s current market cap is $236 million (15,513% growth since it launched).

We think WIF has the potential to grow to a $1B market cap. 

We can reevaluate as we get closer to our targets, but so far, we are bullish.

4 factors that will propel WIF higher

When we first published the first report on WIF, we noted that the project is ticking all the right boxes in virality, community, and growth potential. Those factors have grown stronger in the past week.

1. A growing community of holders and fans

As we mentioned in our previous report, a strong social narrative is key for the success of a meme coin.

Since we last published our report, WIF's Twitter followers doubled in just six days.

And while you might be tempted to dismiss Twitter following as a vanity metric, it might be interesting to note that  the number of holders has more than doubled to 23,500 holders. 

Overall, everything combined, $WIF is really getting viral.

However, we still haven’t touched TikTok. There are no guarantees that WIF will go viral on TikTok, but you can imagine what will happen if the dog with a hat goes viral on other social platforms.

2. WIF has started forming a cult following

Now, beyond WIF's current holders and fans, many prominent industry participants are jumping into the $WIF wagon. The ecosystem voices are talking about WIF; reinforcing the narrative that $WIF is a “serious” meme coin. 

Here, a tease from Injective.

And a Ghostwifhat from Phantom.

Everyone is wif a hat at Monad!

Many prominent Crypto Twitter personas are talking about WIF including Arthur Hayes - all these, help keep WIF top of mind among meme coins.

 

So, who is gonna be jumping into the wagon with a hat next?

Well, centralized exchanges are making that easier.

3. Listings on centralised exchanges

Some CEXs have started toying with the idea of listing $WIF on their platforms.

MEXC didn’t waste time; they took the dog by the ears!

Other major exchanges are also hinting at potential listings. Here you go, Binance…

4. Other big players are coming wif the hat

The fourth reason we don’t think WIF will be slowing down anytime soon is big players are coming to WIF. And with their arrival, the wealth in the ecosystem will grow,

For instance, Bloomberg covered $WIF exclusively for its Bloomberg terminal users.

And as an icing on the cake, Bloomberg also covered WIF on their news site.

For context, Bloomberg users are not your average Joe; we are talking about family offices, hedge funds, and other institutional players. 

TradFi mostly missed meme coins.

The fact remains that memecoins are gradually becoming a part of crypto culture, and for TradFi players whose primary interest is turning a profit; they might consider allocating a tiny bit of their portfolio to meme coins.

And since they’ve missed the likes of Doge, Shiba, PEPE, and Bonk, WIF is the next available train. And the best part, WIF already has a strong foundation to be attractive to them.

It is fully diluted with attractive price (lower mCap compared to other established meme coins). It has decent liquidity to absorb moves from big players; it is ramping on CEX listings,  and there are no insiders.

Potential downsides

However, it won’t be all roses on WIF.

Remember, this is a meme coin, and its upward trajectory is dependent on sustained community interest.

So, there’s always the possibility that the interest will fizzle out and the project loses momentum. However, so far, that hasn’t been the case.

It is also important to note that as more people come in and big players join, you can expect to see increased volatility after big moves. Shakeout moves with 50+% drops are possible.

However, if you’ve already taken profit, you will be more relaxed and able to ride the wave all the way to the top. 

Long story short, we expect volatility; however, we believe the trend is UP.

Hey, Cryptonary, what if I missed WIF or came in late?

Read the first report on WIF and then consider this latest update to decide if you still want to join the train. 

At Cryptonary, we connect you to the most exciting opportunities in Web3. 

We don't give you shitcoins often,  but when we do, they shit gold.

By the way, we have another project in our sights right now, and if it checks all the right boxes, we will share a report over the next few days. Stay tuned.