The cryptocurrency market continues to introduce meme coins as the FWOG token sees a massive increase in its price and volume. Trading at a rate of $0.084578 FWOG has rallied by a colossal 19.88% in the last one day trading period, attracting the attention of investors and traders.
Market capitalization is currently $1.93 million and it tends to increase because people show more interest in this new token – FWOG. Currently, the project daily trading volume has increased significantly by 42.96% to stand at $ 273,160 within the twenty-four hours. The observed increase in trading activity signals more trader interest for FWOG in a higher risk on and off quotation cryptocurrency market.
I believe that one of the most interesting facts about FWOG has to do with its supply parameters. Currently the supply shows a tiny supply of 0 FWOG but according to the listed circulating quantity and the maximum amount in the market they have valued it at an enormous 420.69 trillion FWOG. This staggering number also makes one wonder the actual utility of the token in the long run and danger of dilution.
The FDV of the project is similar to the current market capitalization at $ 1,93M, meaning that all existing tokens are outstanding. FWOG’s volume-to-market cap ratio stands at 14.18%, showcasing the token’s liquidity and trading activity relative to its market size. Thus, this metric is widely employed by traders to assess the potential and growth oсcupies of the cryptocurrency project.
Recently, FWOG has shown decent performance and its token price rose to $0.086729 just 16 hours before the writing of this article. But it is also important for investors to be cautious now that FWOG is trading within this market since meme coins in the crypto market are some of the most volatile in the market.
The name “FWOG” itself appears to be a play on the popular frog theme in meme culture, following in the footsteps of other animal-themed tokens like PEPE. These new meme coins backed by animals have become immensely popular within the last few months as many investors aim to get rich with the next pump.
Basically, like any other investment in the Bitcoin world, people must always be aware of the risks associated with it. Due to the fact that many jurisdictions do not have regulatory bodies, one could find shocking price swings spurred on by market manipulation. Investors should not invest money that is required for other purposes and should spread their capital to avoid high risk.
As for FWOG, the price has been increasing rather actively, and recently, the price has gone up significantly, but it is unclear whether FWOG has the potential to stay high in the long term and become one of the leading stocks. There are many meme coin competitors, particularly because meme coins do not rely on strong fundamentals but rather on social media influence and popularity.
Therefore, it is clear that FWOG has established it’s self in the cryptocurrency market as evident by its current rise in price and trading volume. Nonetheless, prospective investors should consider this new meme coin with caution since this segment of the market is characterized by volatility and sometimes unpredictable results.
