$WELSH, first memecoin on Bitcoin: 20M marketcap$WELSH is the first #Bitcoin memecoin, set to become the official mascot and ambassador for COINBASE:STXUSD Stacks. This charming dog aims to attract new users to Stacks and foster the development of new solutions within the ecosystem.
Currently, $WELSHUSD is trading around the 0.618 Fibonacci retracement level from its low to its all-time high in March. Trading at the Golden Ratio offers a promising opportunity for Bitcoin's first memecoin.
By applying Fibonacci extensions, I have identified the next major resistance levels and potential targets for $WELSH. Comparing memecoins on Ethereum and Solana, such as DOGE, SHIBA, Dogwifhat, and BONK, which have market caps exceeding $7 billion, to $WELSH with its $20 million market cap, highlights its significant potential. As the first memecoin built on #Bitcoin, $WELSH represents a unique and asymmetrical investment opportunity.
Woof.
