PUGWIFHAT: A New Meme Coin Named After the Cute Wrinkly Face Pug Dogs

The relatively new kid on the block in the large section of meme coins is PUGWIFHAT or PUGWIF, with the meme coin being named after the cute wrinkly face pug dogs.

Fresh off the press, a new meme coin has hit the scene and it's all about those cute, wrinkly-faced pug dogs. Enter PUGWIFHAT or PUGWIF for short. Having launched in mid-2020, it has quickly become a favorite among both crypto enthusiasts and dog lovers alike, creating its own subgenre in the market.

PUGWIF is also currently trading at a rate of $0.004613 with a market capitalization of $4,267,421. While it ranks quite low on the list of prominent digital coins at the moment, it has recently shown promising trends to pique the interest of investors and traders alike. It has been noted that the coin has gained 4.83 percent of its value within the last 24-hours, and this interest in the coin may grow further in the future.

One of the strongest driving forces that get people to invest in bitcoin is the fact that the number of coins in bitcoin is limited. PUGWIF has applied a similar approach. Currently, PUGWIF token has a fixed supply of 1,000,000,000 tokens and according to the ICO site the circulating supply of PUGWIF tokens are 924994569 ,thus the token is scarce,which in return increases the token demand thus making the token value to increase with time.. This approach can be compared with the Bitcoin model as it provides great developments in value and stable increases in its constant supply.

There has been decent trading activity for PUGWIF as well with $89,333 worth of tokens traded within the last 24hrs. This has opened up about 14.84%OPTIONS on the feeling that more and more traders and investors are warming up to the exchanges. Liquidity is at a decent level for a coin of such a market capitalization – the volume-to-market cap ratio equals 2.09%.

The future stability and future growth of PUGWIFHAT depends on its community. Similar to other memecoins such as Shiba Inu, PUGWIF relies on trends on social media and people’s interest to enhance demand and therefore its worth. The creators of the said coin have probably sought to associate the crypto currency with a popular and friendly creature, the pug, thereby making their brand easy to connect with.

The meme coin market turned some coins into popular ones that have reached a very high market capital and are now well-known, such as Dogecoin and Shiba Inu. PUGWIFHAT wants to be the same, using the chance of internet popularity and the cuteness factor of pugs to acquire a dedicated audience.

However, potential investors should approach PUGWIFHAT with a grain of salt. Like any other cryptocurrency, particularly those in the meme category, various risks are eminent. Their value can be very unstable and may be experiencing rapid changes in response to the fluctuation in the information and sentiment from social-network like platforms.

Moreover, it has to be admitted that one of the main problems of predominantly long-term meme coins is their sentience and further development of what their primary purpose was at the time they were created. Successful meme coins have created an environment, established functionality and or connected with other valuable brands to possess value in the long run. So only time will tell as to whether PUGWIFHAT can follow a similar path.

So, the founders of the PUGWIFHAT established the number of tokens that would be issued with a maximum number of 1,000,000,000 PUGWIF, which matches the total number currently available. This indicates that every token has been generated, and none of the PUGWIF will be generated in the future. This deflationary model may in the long run have an effect of making a token to increase in value with an increase in demand should the project owning the token gather momentum and continuously gain the support of its community.

And that is it always advisable to research and put your due diligence when investing in any token in the crypto market, including PUGWIFHAT. It is crucial for the potential investors to understand the long term opportunity of that project by analyzing the given project’s plan, group, and the community response.

All in all, PUGWIFHAT can be looked at as a worthy participant in the field of meme coins adding the cutest dog breed to the existence of meme coins to diversify the possibilities of investing in cryptocurrencies. Although at the moment it occupies rather an unfavorable position in the market, the coin has demonstrated certain potential and activity of the community. Over time, it will be interesting to see whether PUGWIFHAT will be able to keep going as one more participant of the crypto market or whether it will become one more meme-coin project that appeared today and disappeared the next day.