- 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 just about $120 billion.
Solana [SOL] has maintained the lead in memecoin narrative, with prime 100X animal-themed gems like dogwifhat [WIF], Bonk [BONK], and the most recent Chill Man [CHILLGUY].Â
Solana instructions about $21 billion of the memecoin market share, whereas Bitcoin memecoins lately 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 accordance with CoinMarketCap, the one Bitcoin-based token that noticed a latest 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
In addition to leveraging the digital pet tradition, the undertaking additionally has a Web3 gaming platform to onboard new customers, just like Notcoin’s technique.Â
Nonetheless, on the value 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 value surge 100X from present ranges.
On the value chart, Bitcoin Canine’ value motion since September chalked a falling wedge sample.
Generally, the sample is a bullish formation, with a breakout potential of 350% good points for ODOG. In a breakout state of affairs, such a possible achieve might increase hopes of a possible 100X for the Bitcoin-based meme-coin.Â
Nonetheless, given the robust 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 possibilities of a possible 100X gem within the ecosystem.Â