The highly competitive cryptocurrency market offers thousands of investment options to traders and investors. Memecoins like Dogecoin (DOGE) and Dogwifhat (WIF) attract investors by claims of exponential growth driven by social media trends and online meme hype. While altcoins like NFT Finance (NFTFN) attract investors by offering sustainable long term growth and real-world utility.
Investors who invested in NFTFN during its early stages believe that this token has stronger growth prospects as compared to memecoins like DOGE and WIF. According to these early backers, NFTFN has the potential to outperform DOGE and WIF, and deliver more than these memecoins.
Price Action of DOGE & WIF In 2024
Dogwifhat has performed well in 2024, recording quadruple digit growths in the first three months. WIF has surged a whopping 2088%, going from $0.16 to $3.6. While this growth may appear enticing, one must consider the fact that a token can only rally so much before it runs out of bullish momentum and starts dropping.
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Such impressive returns may also prompt early investors to dump their holdings and take profit, hurting retail traders who invest at this point. Dogecoin has also witnessed triple digit gains in 2024 so far. As the largest memecoin by market capitalization, DOGE has seen its price go from $0.086 to $0.20, marking a growth of 124%. However, these growths are not sustainable in the long term.
When compared to NFTFN, DOGE and WIF also fall short in terms of transparency, real-world utility, tokenomics, etc.
NFTFN’s Growth Prospects
The details surrounding NFTFN are currently public, including funding, founding team, backing, tokenomics etc. One might say that through its commitment to transparency, NFTFN has already achieved much more than Dogecoin and Dogwifhat.
NFTFN offers innovative solutions for the non-fungible token (NFT) market, tackling issues like lack of risk management tools and expensive entry barriers. NFTFN’s compelling real world applications for the NFT market beats WIF and DOGE in terms of utility as well.
As far as price action is concerned, NFTFN is currently in the second phase of its highly anticipated presale, where 25 million tokens are available for just $0.03 apiece. Investors who participated in the initial stage have already made a 20% return on their investment.
As an NFT-centric token, NFTFN is also poised to capitalize on the explosive growth of the NFT market, which is projected to reach a whopping $230 billion by the end of the decade.
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