What is the Wifedoge? Meet the cryptocurrency ‘wife’ of Dogecoin that grew more than 3,000% in one day and Elon Musk already ‘liked’ it
September 3, 2021 4 min read
This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.
Opinions expressed by Entrepreneur contributors are their own.
Last July they launched the cryptocurrency Wifedoge , which is presented as the ‘wife’ of Dogecoin , but in essence it is a clone of it. In addition to being a curiosity of the ‘crypto’ world and having the ‘like’ of Elon Musk , the token surprised everyone this week with a growth of more than 3,000% in market capitalization in just one day, according to data from CoinMarketCap .
This Tuesday, August 31, the Wifedoge exceeded 2.32 million dollars in market capitalization , a figure 3,294.29% higher than the 68,350 dollars with which it began on Monday morning.
It may interest you: The Dogecoin increased its value by 4,600% in one year and Elon Musk gives it another push
However, the ‘wife’ of the Dogecoin failed to sustain the streak and for this Thursday, September 2, its capitalization fell to $ 301,406 .
Source: CoinMarketCap.com
What is the Wifedoge?
Wifecoin represents the ‘inception’ of cryptocurrencies , as it emerged as a parody of a digital currency (the Dogecoin ), which in turn was inspired by a meme to parody Bitcoin , so surreal!
The creators ensure that the value of each Wifecoin token will be equivalent to one Dogecoin . Excellent news, considering that the DOGE increased its value by 4.600% in one year and both Elon Musk and Mark Cuban see it as the “strongest” cryptocurrency.
In addition, they announced that they would reserve 5% of the Wifedoge units for Elon Musk .
“We will give them to you at the right time, otherwise 5% of the tokens will be forever blocked,” reads a tweet from the Wifecoin account.
WIFEDOGE PRESALE START ON DXSALE https://t.co/6g7nlv8sll
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 - WIFEDOGE (@wifedoge) July 11, 2021
In fact, the developers of the new cryptocurrency ‘meme of the meme’ are so sure they have the endorsement of Elon Musk , that they thanked him for his support on Twitter.
Thank you Elon Musk. I am Wifedoge. Doge’s wife! Now is the fourth launch day on Pancakeswap! Thanks for tweeting to cheer on Wifedoge. Trust us, we will soon surprise global investors even more. Our team is working hard, ” reads another tweet.
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
Should you invest in Wifedoge?
Experts assure that these vertiginous ‘ups and downs’ are caused by fraudulent manipulations of the crypto market, which generates multiple victims.
“The sharp ups and downs in the price of low liquidity assets are often the result of fraudulent manipulations known as ‘pump and dump’ and that consist of inflating their value and then selling it at overstated prices. The lack of regulations in the crypto market causes many investors become victims of this scheme, " said RT en Español .
The decision to invest or not in Wifedoge is like with any other cryptocurrency : if you have extra money that you are willing to lose in case things go wrong, then go for it. It never hurts to have some tokens in your cryptocurrency portfolio that could skyrocket more than 3,000% in 24 hours .
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CEO Already Likes New WIFEDOGE? Growth Already 3,000%!
Elon Musk’s tweet went viral once again after confirming that his favorite Dogecoin is not the ultimate cryptocurrency. His latest Twitter post has now garnered more than 380,000 likes, 64,000 retweets, and 26,000 likes.
WIFEDOGE PRESALE START ON DXSALEhttps://t.co/6g7nlv8sll
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 — WIFEDOGE (@wifedoge) July 11, 2021
In the comment section, various cryptocurrency fans shared their opinions. Of course, many agreed with the popular billionaire, while others declined his idea. They even sent some links to show that DOGE’s is still growing in the crypto market.
However, the giant tech CEO was referring to one is not a physical-digital currency or crypto coin. He is telling people that the ultimate currency is time.
On the other hand, News18 reported that some rich people also joined the viral tweet. These include CRED’s founder Kunal Shah. He said that the only true thing in the world is entropy. Meanwhile, Stephanie Myers, an anchor and news producer at OANN Morning News, also commented on Musk’s viral tweet.
She asked the billionaire what crypto should she invest in. As of the moment, Elon Musk still hasn’t replied to any of the commentators on his post, making it more confusing for many fans.
Elon Musk Now Liking New WIFEDOGE?
According to Entrepreneur’s latest report, Elon Musk is now attracted to a similar digital currency called WIFEDOGE, which is considered the wife of Dogecoin.
Also Read: Twitter Tip Jar to Include PayPal, CashApp, and Cryptocurrency Wallet Addresses, Rumor Suggests
But, it wasn’t stated if this rising cryptocurrency is connected to the viral tweet of Elon Musk about DOGE. On the other hand, Wifedoge was able to grow 3,294.29% since it exceeded its recent 68,350 value, which was recorded last Monday, Aug. 30.
On Tuesday, Aug. 31, the new crypto brand was able to have 2.32 million dollars in market capitalization, which is really a drastic increase. The developers of WIFEDOGE also thanked Elon Musk for supporting the rising cryptocurrency.
“Thank you for tweeting to encourage Wifedoge. Believe us, we will soon surprise global investors even more. Our project team is working hard,” they said via Wifedogecoin’s official Twitter account.
DOGE and WIFEDOGE Has a Son?
On the other hand, the new Baby Doge Coin is also acting as the son of the new WIFEDOGE and the popular DOGE cryptocurrency.
As of the moment, the official Twitter account of BABYDOGE already has more than 11,000 followers. Not much information about this new digital coin is released yet. But, creators said more details would be announced in the following days.
For more news updates about DOGE, WIFEDOGE, and BABYDOGE, always keep your tabs open here at TechTimes.
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Written by: Griffin Davis
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