Dogwifhat (WIF), which is one of the "meme coins" on the Solana network, continued its rapid climb on Wednesday, while momentarily surpassing BONK as the top "meme coin" by market cap.
At some point today, Dogwifhat's market capitalization of over $2 billion surpassed BONK by a margin of several million dollars. Currently, both coins have almost equal valuations, with BONK managing to reclaim the leading position by a margin of less than 3%.
Top Memecoin WIF on Solana Network
Over the past few months, BONK has stood as the top "meme coin" on Solana, with no other token coming close to its billion-dollar market cap value. That stake began in late fall, leading a wave of price increases in the Solana ecosystem.
This period saw the beginning of Dogwifhat, which was launched on Thanksgiving. After an incredible 227,000% gain in its first few weeks, the coin—an homage to the popular meme of a Shiba Inu wearing a knitted hat—continued to grow steadily until it exploded last week. Within a few days, the value of WIF increased fivefold, from $0.37 to $1.88.
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Driven by the Listing of Leading Crypto Exchanges
The growth was partly driven by the coin's listing on major crypto exchanges including Robinhood Europe and Binance. Since then, its growth has continued relentlessly, with the token up over 50% in the last 24 hours, to $2.06 at the time of writing.
This morning, that phenomenal momentum brought WIF past its $2 billion market cap for the first time—a major achievement for a "meme coin" that was virtually worthless in the previous fiscal quarter.
Meanwhile, BONK suffered a significant decline after a surge in December, losing more than 80% of its value in a few weeks. However, fortunes changed for the meme coin last week, as a wave of optimism in the crypto market led by Bitcoin's massive surge lifted BONK and various other cryptocurrencies (including WIF) to record highs.
The token hit an all-time high on Monday, though its value remains on par with fractions of fractions of cents. Since then, its price has fallen by 27%, as the overall crypto price decline begins to ease from a bullish surge.
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To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is Rp10,000. After that, then you can make a crypto asset purchase in the application.
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Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
What is Dogwifhat (DOGWIFHAT)? Digital Financial Transaction Solutions
Dogwifhat (WIF) Achieves Latest ATH, What's Next?
Dogwifhat (WIF) Price: Until When Did This Bullish Trend Occur?
Dogwifhat (WIF) Price Predicted to Increase by 173%! When is the time?
Dogwifhat (WIF), Solana Network's Memecoin Soars 200%
DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.
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