Among all the strong-performing altcoins this year, Toncoin (TON) and Dogwifhat (WIF) have stolen the limelight with exceptional gains surpassing other notable ones such as Dogecoin (DOGE) and Shiba Inu (SHIB).
Toncoin And WIF Lead The Way
According to information from CoinMarketCap, Toncoin and WIF are the top-performing cryptocurrencies in the top 50 by market capitalization, with impressive year-to-date (YTD) growth rates of 207% for Toncoin and an astonishing 1668% for WIF. While not quite reaching those heights, other altcoins like DOGE and SHIB have also experienced notable gains, posting a YTD increase of 84% for Dogecoin and 128% for Shiba Inu.
Toncoin and WIF’s dominance in the market has been due to several factors. On Toincoin’s part, it has received significant backing from Telegram. The messaging platform recently integrated TON payments, exposing the crypto token to its user base of over 900 million persons. Telegram had also previously announced an ad-sharing revenue program, with payouts solely going to be made in Toncoin.
The growth in TON‘s value is not only driven by bullish sentiment but also by heightened activity on the TON network. This development can be attributed to significant initiatives such as Notcoin, a popular telegram game scheduled for token release on April 20th, which will join the network. Since the beginning of the year, TON’s price has risen significantly, placing it among the top 10 crypto tokens by market capitalization.
In the meantime, WIF‘s remarkable surge can be attributed primarily to its passionate fan base, headed by renowned crypto influencer Ansem. Additionally, the meme coin has gained traction due to the excitement surrounding Solana, being the leading meme coin on this platform currently. Consequently, any bullish event within the Solana community has resulted in a price increase for WIF.
WIF has made significant progress. Due to a dramatic price increase, it entered the ranks of the top 50 cryptocurrencies in terms of market capitalization this year. Notably, WIF surpassed BONK, another popular meme coin, on its journey to becoming the third-largest meme coin by market cap, trailing only behind DOGE and SHIB.
Meme And Artificial Intelligence Coins Make Their Mark
During this bull market, meme coins like Dogecoin and artificial intelligence (AI) tokens such as SingularityNET were anticipated to be major trends, and they’ve certainly met expectations.
It’s clear that Meme and AI cryptocurrencies, specifically WIF and Fetch.ai (FET), have surpassed Bitcoin‘s impressive 56% year-to-date (YTD) gains in the top 50 digital currencies. For additional perspective, WIF is the leading meme coin, while FET holds the top spot among AI coins, both exceeding Bitcoin’s achievements.
DOGE, SHIB, and PEPE, the only other meme coins in the top 50 spot, have also outperformed Bitcoin. Meanwhile, AI coins like Render (RNDR) and Bittensor (TAO) boast higher YTD gains than Bitcoin, with gains of 97% and 110% respectively.
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2024-04-16 01:41