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Dogwifhat WIF Token Pumped 51% today and Here is Why

Michael Juanico by Michael Juanico
January 25, 2024
in BUSINESS, CRYPTO
Reading Time: 3 mins read
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  • Dogwifhat (WIF), a Solana meme coin, has surged 257% over the past week to $0.04 as SOL reclaimed $100
  • WIF saw meteoric gains after a quiet launch in Nov 2021, rising 227,000% in Dec and further in Jan before declining recently
  • Despite WIF’s rise and SOL reclaiming $100, top Solana meme coin BONK hasn’t benefited, as broader crypto market sees modest declines

The Solana meme coin Dogwifhat (WIF) has seen a massive 257% price surge over the past week, more than doubling to over $0.04. This comes as Solana’s SOL token reclaimed the $100 level after recent declines. WIF is now the fifth-largest meme coin by market cap.

JUST IN: Dogwifhat (@dogwifcoin) $WIF is one of today's top-performing cryptos

Here are some stats you may find interesting 👇 pic.twitter.com/lM5t1yjPg9

— BlockNews.com (@blocknewsdotcom) January 17, 2024

WIF’s Meteoric Rise

WIF launched quietly in November 2021 before seeing a 227,000% price jump in December to $0.14. It rose further to $0.32 in January before declining below $0.08 last week. Now WIF has exploded 51% in the last 24 hours to above $0.04 with a market cap over $420 million. Trading volume has reached nearly $65 million.

SOL Reclaims $100

Solana’s SOL is up 4% today to over $101, reclaiming the $100 level for the first time since Sunday. However, SOL remains far below its all-time high of $260 in 2021. SOL’s rise comes after Solana Labs revealed plans for a new Saga Chapter 2 smartphone with a cheaper $450 preorder price.

Meme Coins on Solana

BONK, Solana’s leading meme coin, has not benefited from WIF’s surge. BONK is down 4% to $0.00001353, 60% off its all-time high last month. The broader crypto market is down about 1% over the past day, with Bitcoin and Ethereum falling 2% each.

Conclusion

The explosive gains for Dogwifhat show continued interest in Solana meme coins as the blockchain’s SOL token mounts a comeback. However, top meme coin BONK has yet to follow suit, as the overall crypto market sees modest declines. WIF’s massive rise spotlights the potential for meme coin mania on Solana.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: cryptoDogwifhatMeme CoinSolanaWIF
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Michael Juanico

Michael Juanico

Michael is a BSBA Management graduate from Mindanao State University and has been a professional content writer since 2019. He began exploring cryptocurrency in 2021 and has since made blockchain and digital assets his primary focus. For nearly four years, Michael has contributed research and editorial content at Aiur Labs and BlockNews, producing clear and accessible coverage of market trends, trading strategies, and project developments. He is transparent about his personal holdings in Bitcoin, TRON, and select meme tokens, combining writing expertise with hands-on market experience to deliver trustworthy insights to readers.

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