Although there’s a wider gaining trend among memecoins, Solana tokens appear to be doing the most.
The price of Solana meme coin dogwifhat (WIF) has soared 9.21% in the last 24 hours to trade at $3.28, indicating new inflow from the big bulls. The price jump is reflective of the wider performance of meme coins, which have generally been experiencing massive gains in the market today. As of press time, the combined market capitalization of meme coins is $63.7 billion, a 1.21% rise in the last 24 hours.
Although there’s a wider gaining trend among meme coins, Solana tokens appear to be doing the most. They have recorded over 12% gains in a manner that saw them outshine the wider market today. Even their daily volumes have also continued ro climate, nearing $2.4 billion.
Meanwhile, the performance of WIF and other similar assets is undoubtedly linked to Solana’s bullish trend, which has brought massive inflows to memecoins.
Dogwifhat (WIF) Breaks into Top 30
Dogwifhat has been on a steady journey of growth since its launch on the Solana blockchain in November 2023. Its WIF token became an instant hit and succeeded in flipping the PEPE token to become the third-largest meme coin by market cap in March. Its performance thus far has seen it attract a growing number of users, and the result can be seen in its metrics.
Moments ago, WIF broke into the top 30 crypto assets by market capitalization. That is, after overtaking Filecoin (FIL). As of publication, however, its market cap stands at $3.24 billion while daily volumes have skyrocketed 142.92% to $1.1 billion.
Despite the impressive gains, WIF is still significantly off its all-time high of $4.85 that it attained on March 31. It currently trades 32% below its all-time high, however, bulls are lining up to take new positions following the recently recorded wins.
Moreover, there is a buzz around the recent approval of spot Ether ETFs that has suddenly brought life into the market. That is not to mention the fact that US lawmakers are also beginning to rally behind the industry as the newest crypto bills suggest.
Other Solana Meme Coins
Interestingly, the impressive performance of Dogwifhat has sparked a similar rally in other assets like itself. Kitty AI, for instance, has posted triple-digit gains of 214% to become the biggest gainer in the past 24 hours. Wojak and Banana Cat are also up 41.66% and 42.8% respectively within the same period.
next