Wifedoge dominated the market when it surpassed the 2.32 million dollar mark on August 31. It had a 3,294.29 percent growth compared to the day prior. Many investors grew curious if the so-called wife of Dogecoin could recreate this market surge in the future.
Despite being an online joke, Dogecoin showed 10,000 percent growth over the past year and 130,000 percent growth in the past five years on its crypto market. In these last few months, Doge also secured big market gains. According to Market Realist, many Doge investors who utilized the surge made millions of dollars in the process.
Dogecoin's success inspired many developers to create other dog-themed cryptocurrencies, some of them being Baby Starlink Doge, Shiba Inu, Babydoge, and Wifedoge. Notably, Wifedoge made an impression with its market performance.
Wifedoge and Dogecoin Legacy, Potential Teased
Months prior to its surge, Wifedoge was strongly marketed to Elon Musk. Developers announced they would reserve 5 percent of Wifedoge tokens for Musk, which they will "give to him at the right time" or forever lock.
WIFEDOGE PRESALE START ON DXSALEhttps://t.co/6g7nlv8sll— WIFEDOGE (@wifedoge) July 11, 2021
Reserve 5% of the tokens for Elon Musk. Give it to him at the right time, otherwise the 5% of the tokens will be forever. Locked#bsc #wifedoge #dogecoin pic.twitter.com/oX1IHFcMpC
Days after the tweet, Wifedoge also thanked Musk for his support on Twitter. They said, "believe us, we will soon surprise global investors even more. Our team is working hard."
Thank you Elon Musk❤️ I’m Wifedoge. Doge's wife! Now is the fourth day of launch at Pancakeswap! Thank you for tweeting to encourage Wifedoge 🤪Believe us, we will soon surprise global investors even more. Our project team is working hard#wfiedoge #dogecoin #doge #PancakeSwap pic.twitter.com/HAwvYKDjA7— WIFEDOGE (@wifedoge) July 25, 2021
Many investors were admittedly surprised when Wifedoge markets surged last Tuesday. For reference, Dogecoin rose to 4,600 percent in its peak, a little over 700 percent more than Wifedoge.
Regardless, both showcased amazing growth potential in the crypto markets.
Last Saturday, developers teased a goal of "1 Wifedoge = 1 Dogecoin." This implies equal value and standing on the crypto market.
Wifedoge Price Prediction, Should You Invest in Dogecoin's Wife?
Unfortunately, the Wifedoge surge immediately died afterward. At the time of writing, Wifedoge traded at $0.000000000063 with a 39.6 negative percent in the last 24 hours, as seen in Coin Gecko.
TechStory warned about the highly volatile nature of cryptocurrency markets. The risk is especially emphasized on fan tokens like Dogecoin and Wifedoge.
For its price prediction, investors should know that Wifedoge has the potential to grow its future market. If it could pass 3,000 percent in one day, then support from influential figures like Musk could double the numbers. Other related factors, like securing a Coinbase listing or partnership with big brands could also create price inflation.
Market Realist said Wifedoge price could increase by tenfold by the end of 2021.
Inversely, the Wifedoge token could easily suffer price crashes. Rejection from public figures and investors like Mark Cuban will directly impact its market.
Investors on Wifedoge should be careful with their money in these coming weeks. They are recommended to invest only what they could afford to lose in the dangerous gamble.
Related Article: Dogecoin Price Prediction Hints at Big Surge Soon; Wifedoge Also Gets Massive Boost