
/BEFE/ – The first week of March 2024 witnessed a whirlwind of activity in the cryptocurrency space, marked by contrasting fortunes for various tokens. This article delves into these developments, focusing on the meteoric rise of Dogwifhat (WIF) after its Binance listing, the price declines experienced by Blur (BLUR) and Flare (FLR), and the surge in BEFE and Baby Doge Coin (BabyDoge) fueled by rumors of potential Binance listings.
Dogwifhat (WIF), a memecoin featuring a Shiba Inu breed mascot, became the talk of the town on March 5th, 2024, after it was listed on the world’s largest crypto exchange Binance. In hours following this listing, WIF saw its value soar 37.8%, reaching an all time high of $2.20. The latest surge brought WIF’s total gain to a whopping 1000%. This remarkable surge can be attributed to factors like community hype. WIF already possessed a strong online community, and the Binance listing likely fueled further excitement and buying activity among its supporters.
However, amidst the celebratory mood, it’s crucial to maintain a balanced perspective:
While memecoins like Dogwifhat have prospered recently, tokens from other sectors of the crypto market haven’t fared so well. Tokens like BLUR and FLR have witnessed double digit declines over the past week, much to the disappointment of crypto traders. Let’s take a closer look at why these decentralized finance (DeFi) tokens haven’t benefited from the positive sentiment in the market.
BLUR, the native governance token of the popular NFT marketplace Blur, saw its price dip significantly in the first week of March. While the exact cause remains unclear, several factors might have contributed:
Flare, a project focused on bridging blockchains, also saw its token (FLR) experience a price decline in the same period. The reasons for this decline might be:
Dogwifhat’s highly coveted listing on Binance has sparked discussions about a similar fate awaiting other promising memecoins in the market, including BEFE and Baby Doge Coin (BabyDoge). Both BEFE and BabyDoge have witnessed double digit gains over the past week, surging 13% and 75% respectively.
Crypto forums online have been taken over by discussions on the potential listing of BEFE and BabyDoge. Crypto pundits speculate that the listing of a memecoin like WIF has brought credibility and attention to the border memecoin space, which would benefit early stage memecoins like BEFE. Other ways in which Binance listing can benefit BEFE and BabyDoge are:
Disclaimer: This publication is sponsored. Coinspeaker does not endorse or assume responsibility for the content, accuracy, quality, advertising, products, or other materials on this web page. Readers are advised to conduct their own research before engaging with any company mentioned. Please note that the featured information is not intended as, and shall not be understood or construed as legal, tax, investment, financial, or other advice. Nothing contained on this web page constitutes a solicitation, recommendation, endorsement, or offer by Coinspeaker or any third party service provider to buy or sell any cryptoassets or other financial instruments. Crypto assets are a high-risk investment. You should consider whether you understand the possibility of losing money due to leverage. None of the material should be considered as investment advice. Coinspeaker shall not be held liable, directly or indirectly, for any damages or losses arising from the use or reliance on any content, goods, or services featured on this web page.