Solana-based memecoin dogwifhat has reached an all-time excessive for the second time right now, surging over 250% within the final week.
Dogwifhat (WIF) has been one of many largest gainers within the meme coin market this week. The token was launched three months in the past in December and began buying and selling at $0.0045. Nonetheless, the newest market rally noticed dogwifhat attain $1 right now, then additional spiked in direction of $1.13.
![dogwifhat (WIF)](https://crypto.news/app/uploads/2024/03/Screenshot-2024-03-01-143023-1024x361.png)
WIF’s rally is attributed primarily to the continuing bull market, particularly within the memecoin sector. The crypto market cap has elevated by 2.6% right now, whereas the memecoin market grew by 21% and reached $37.8 billion. Earlier right now, dogwifhat was listed by Robinhood, which noticed its buying and selling quantity soar over 50%.
Whale actions have additionally contributed to WIF’s intense value hike. Lookonchain stated a Solana whale purchased $1.34 million value of WIF tokens shortly after the Robinhood itemizing.
Dogwifhat at the moment has a market cap of over $1.1 billion, and earlier this week, it climbed over FLOKI and CorgiAi to grow to be the fifth-largest meme coin available in the market.