In a dizzying ascent, Dogwifhat (WIF), the hottest meme coin on Solana, has surged an astonishing 21% today, hitting a remarkable $0.46 cents — the highest level since mid-January. The surge has propelled Dogwifhat's market capitalization tantalizingly close to half a billion dollars, securing its position as the 123rd largest cryptocurrency by market capitalization, per CoinMarketCap.
But what truly captures attention is Dogwifhat's meteoric rise among the meme coin elites. Surpassing heavyweights like FLOKI and MEME, Dogwifhat now stands proudly among the top five meme coins by market capitalization. Its newfound neighbors in this elite ranking include the likes of Dogecoin (DOGE), Shiba Inu (SHIB), Bonk Inu (BONK) and PepeCoin (PEPE).
What's even more astounding is the speed at which Dogwifhat has ascended the ranks. In just three short months, it has cemented its position as a formidable player in the meme coin arena.
WIF to take over PEPE? Maybe
Looking ahead, analysts speculate that Dogwifhat's journey to meme coin supremacy is far from over. With its market capitalization trailing behind PepeCoin by a mere $60 million, a modest 13% increase could see Dogwifhat leapfrogging its frog-themed counterpart.
The bullish sentiment surrounding Dogwifhat is further fueled by unexpected celebrity endorsements, such as LeBron James sporting a knitted hat reminiscent of the popular meme. Such unpredictability only adds to the excitement surrounding the meme coin's future trajectory.
As investors eagerly watch Dogwifhat's ascent, one thing remains certain: Solana's meme coin darling has firmly established itself among the elite ranks of DOGE and SHIB, with the potential for even greater heights on the horizon.