Data from CoinMarketCap shows that there are more than 23,000 cryptocurrencies in existence. However, the ones which have a real impact on the crypto market are less than 2,000. The market impact of these cryptocurrencies is driven by various factors. Memecoins like Dogecoin (DOGE) and Dogwifhat (WIF) have made their mark through meme hype and social media trends.
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On the other hand, altcoins like NFT Finance (NFTFN) offer real world utility and address real-world challenges, leaving a considerable impact on the market. Early believers of NFTFN believe that the unique selling propositions and strong foundation of NFTFN will cause it to surpass DOGE and WIF in terms of market impact.
DOGE & WIF
Dogecoin and Dogwifhat have captured a considerable portion of the market by capitalizing on the memecoin hype and harnessing the power of social media trends. Despite having no real world applications, DOGE and WIF have had a considerable impact on the market that is largely driven by online hype and massive communities.
However, there is a limit to Dogecoin and Dogwifhat’s market impact given that they offer no utilities. The meme hype model is certainly not sustainable in the long-term, which is why most of the market impact of WIF and DOGE is limited to small periods where their prices surge and capture the attention of the crypto community.
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NFTFN’s Utility Proposition
Unlike memecoins like Dogecoin and Dogwifhat, NFTFN emerges as a top altcoin contender offering innovative solutions for tangible problems in the non-fungible token (NFT) market. NFTFN’s compelling real-world utility has attracted crypto enthusiasts from around the world. These early believers are confident that NFTFN will surpass DOGE and WIF in terms of market impact.
In this market impact debate, NFTFN already beats DOGE and WIF on several parameters like transparency and tokenomics. The details of NFTFN, including its founders, funding, and roadmap, is out in the open and available for the crypto community to scrutinize, making it a transparent project.
As far as tokenomics are concerned, NFTFN has made sure that a large portion of its supply doesn;t end up in the hands of a few investors. The same cannot be said for memecoins like Dogecoin and Dogwifhat.
With backing from the likes of Polygon founder Sandeep Nailwal and strategic partnership agreements with industry leaders like Binance Smart Chain, OpenSea, and Google Cloud, NFTFN is poised to make a significant impact on the crypto market.
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