Solana’s “Dogecoin killer” dogwifhat clocked a 23.2% achieve prior to now 24 hours, powered by Bitcoin cracking the $52,000 mark.
What Occurred: Dogwifhat surged into the highest 5 memecoins by market capitalization, primarily based on CoinGecko information. This positioned it alongside elite memecoins resembling Dogecoin and Shiba Inu and behind Bonk and Pepe .
WIF has rocketed to a market cap of $461.6 million on the time of writing in a really quick span — as not too long ago as Jan. 5, it traded round $130 million.
It has thus surpassed common memecoins that got here earlier than it resembling Floki and Memecoin .
Additionally Learn: GameStop, Dogwifhat And ‘Dogecoin Killers:’ How Memecoins Teach A ‘Skill To Succeed’ In Crypto
Why It Issues: Solana memecoins are value $1.4 billion out of a complete “memecoin market cap” of $22.8 billion, in line with Coingecko. Though these memecoins lack related use circumstances or real-world utility, merchants are nonetheless interested in them for potential speculative positive factors.
“Hat stays on” was the mantra of cryptocurrency observers and influencers resembling Dmitriy, Ansem, alexiuss and Uncle Eddie amongst many others.
Joe Ayoub, a former crypto analysis lead and founding father of Rug_ai, tweets, “$WIF is the $DOGE of this cycle”
Others, including Floki and MAGA, are in line to grab a spot in the top five memecoins, as they have also witnessed significant rallies in recent weeks.
Learn Subsequent: Truthful Play? Merchants Flip $3,694 Into $1.78 Million With Copy Of ‘Dogecoin Killer’ $WIF
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