Pepe continued its recent rally today, surging 27% in 24 hours at the time of writing – but it wasn’t the only meme coin to make headlines.
A new meme coin, Frog Wif Hat (FWIF), has turned heads in the trader community after launching on Uniswap today – with some investors speculating that it could match dogwifhat’s (WIF) explosive gains.
With its hilarious French theme and baguette-wielding mascot, Frog Wif Hat is already capturing investors’ imagination like viral meme coins of the past.
Frog Wif Hat Rides Wave of Buying Momentum to 270%+ Gains
For those unaware, dogwifhat exploded onto the scene earlier this year as one of the hottest meme coins on Solana.
It quickly built up a loyal community on social media, helping WIF reach a peak market cap of $463 million.
WIF’s all-time high price was $0.481 on January 18 – a whopping 7,300% higher than in mid-December.
The coin also achieved listings on major centralized exchanges like Gate.io, BitMart, and KuCoin as retail investors clamored to get involved in the hype.
Now, fellow meme coin Frog Wif Hat aims to replicate this success with its own frog mascot sporting a tiny beret.
Frog Wif Hat’s creators, inspired by dogwifhat’s exponential rise, aim to dominate the meme coin space.
Launched today on Uniswap, FWIF’s value immediately soared over 270% as investors piled in to get exposure to the next potential breakout star.
According to data from dexscreener.com, FWIF ranks second among trending tokens and has quickly reached a market cap close to $2 million.
All of this occurred in the first two hours of FWIF going live – highlighting the enormous hype surrounding any project that tries to recreate dogwifhat’s success.
Beret-Wearing Frog Wif Hat Debuts Ambitious Roadmap & Fair Tokenomics
But what sets Frog Wif Hat apart from the pack of low-cap, animal-themed meme coins?
For starters, Frog Wif Hat had a fair launch at a low price of just $0.0005 per token – enabling a broad group of investors to get involved immediately.
The coin’s developers have also locked liquidity, preventing them from pulling off a rug pull down the line.
Additionally, the total supply is capped at 1 billion FWIF tokens, creating scarcity to help drive up the price long-term.
But the most intriguing part of Frog Wif Hat’s roadmap is its plans to bridge to the Solana blockchain in “Phase 2” of the roadmap.
Using portalbridge.com and the Wormhole platform, Frog Wif Hat’s team seeks to tap into Solana’s enormous meme coin community.
According to CoinGecko, the total value of Solana-based meme coins is now a whopping $1.3 billion, with over $128 million in 24-hour trading volume.
By tapping into this vast market, Frog Wif Hat’s value could explode once the bridge is successfully executed.
So, while riding the coattails of established meme coins is risky, Frog Wif Hat’s steps to differentiate itself demonstrate the developers are taking the project seriously.
Could FWIF’s Solana Bridge Lead to Price Explosion?
Expanding to Solana is just the first step in Frog Wif Hat’s ambitions to take the meme coin world by storm.
The roadmap outlines plans to hit 10,000 FWIF holders in the future, which would likely require CEX listings after the token is bridged to Solana.
Getting listed on Gate.io or KuCoin, like dogwifhat did, would expose FWIF to millions of potential buyers.
This could dramatically increase the token’s liquidity and spot trading volume.
For evidence of CEX listings’ impact, the debut of Pepe (PEPE) on exchanges back in May 2023 helped massively boost the token’s price.
Increased liquidity also makes it easier for larger investors to accumulate positions without heavily impacting the price.
This paves the way for potential influencer partnerships and promotions to drive further hype.
Frog Wif Hat’s roadmap also indicates plans to spend profits on “high-end NFT art” in Phase 3.
NFT trading volumes have begun to pick up again in early 2024, so if Frog Wif Hat’s team can tap into this resurgent space, it may help propel the token even higher.
Of course, successfully executing the multi-phase roadmap is no easy task – but the early price pump suggests that the investment community believes in FWIF’s long-term appeal.
