Memecoins
Dogwifhat (WIF) Price Rises 14% As Broader Meme Coins Rise
Meme coin Solana dogwifhat (WIF) has risen 14.7% over the past 24 hours to settle at $3.42, with bulls reporting fresh inflows. The jump in the asset’s price comes as meme coins post better numbers in the market today. At the time of writing, the meme coins market capitalization stands at $68.2 billion, up 6% in the past 24 hours.
Among meme coins, Solana tokens posted gains of 12%, outpacing the broader market today, as daily volumes reached $2.3 billion. The performance of WIF and other assets is linked to Solana’s bullish trend and inflows meme coins.
Dogwifhat enters the Top 30
The asset’s steady growth since its launch has seen it attract community support, especially during the first quarter’s meme coin frenzy. Dogwifhat ranks among the top 30 crypto assets by market capitalization, surpassing Filecoin (FIL). Entering the top 30 is a huge step for the Solana meme coins that made the community bullish in the first quarter of 2024.
dogwifhat’s market capitalization stands at $3.4 billion, while daily volumes have skyrocketed by 50% to $935 million. These gains are still far from the all-time high of $4.85. WIF price achieved this feat on March 31 following the meme coin frenzy that saw massive inflows into the assets.
Dogwifhat is trading 29% below its all-time high, with bulls seeking new positions after the market recorded wins. The approval of the commercial Ethereum ETF and the anticipation that led to the date triggered a market trend reversal. Crypto assets have also made gains as US lawmakers have shown support for crypto bills.
Rise of broader meme coins
Dogwifhat, the leader Solana meme coin by market capitalization triggered a rally in similar assets. Kitty AI was the biggest gainer in the last 24 hours, posting triple-digit gains. Today the asset is up 668%, while Wokak and Banan Cat are up 24.5% and 63.7% over the same time frame.
Floki and BONK saw inflows push the price of both assets up 10.9% and 4.8% respectively as the meme tokens attract bullish momentum.
Read also: Ethereum ETF Approvals Poised to Drive Long-Term Growth: Kaiko
David is a financial news contributor with 4 years of experience in Blockchain technology and cryptocurrencies. He is interested in learning about emerging technologies and has an eye for the latest news. Staying up to date on trends, David has reported in several niches including regulation, partnerships, cryptocurrencies, stocks, NFTs, etc. Away from the financial markets, David cycles and rides horses.