- The Bitcoin ecosystem has trailed Solana in memecoin traction.Â
- Can Bitcoin Canine [ODOG] profit from the continued meme mania?Â
For the reason that U.S. elections, memecoin traction and market dimension doubled from $60 billion to almost $120 billion.
Solana [SOL] has maintained the lead in memecoin narrative, with high 100X animal-themed gems like dogwifhat [WIF], Bonk [BONK], and the newest Chill Man [CHILLGUY].Â
Solana instructions about $21 billion of the memecoin market share, whereas Bitcoin memecoins not too long ago clocked $1.5 billion.
Can Bitcoin [BTC] memecoins like ODOG observe the WIF and BONK development with a 100X rally, too?Â
Bitcoin canines
In response to CoinMarketCap, the one Bitcoin-based token that noticed a current wild upswing was PUPS Ordinals [PUPS]. As of this writing, it had risen practically 700% prior to now 24 hours.Â
Given the exceptional efficiency of animal-themed meme cash, particularly dog-like meme cash, Bitcoin Canine [ODOG] may gain advantage from the traction.Â
Moreover leveraging the digital pet tradition, the mission additionally has a Web3 gaming platform to onboard new customers, much like Notcoin’s technique.Â
Nonetheless, on the worth entrance, ODOG’s present market dimension was about $3 million per CoinMarketCap.
This meant that ODOG had restricted liquidity but was grossly underpriced ought to the worth surge 100X from present ranges.
On the worth chart, Bitcoin Canine’ value motion since September chalked a falling wedge sample.
Usually, the sample is a bullish formation, with a breakout potential of 350% positive factors for ODOG. In a breakout situation, such a possible acquire may elevate hopes of a possible 100X for the Bitcoin-based meme-coin.Â
Nonetheless, given the sturdy Solana meme coin moat, such a projection within the Bitcoin ecosystem stays to be seen.
Moreover, a spike in Bitcoin Ordinal Inscriptions might sign a renewed curiosity within the meme coin sector and probabilities of a probable 100X gem within the ecosystem.Â