- Dogwifhat, a new meme coin on Solana, has seen huge growth recently, with its market cap now matching top dog BONK.
- Dogwifhat launched before Thanksgiving and quickly rose over 200,000%, fueled by major exchange listings and meme coin mania.
- Dogwifhat briefly surpassed BONK’s market cap, sparking a battle for the top Solana meme coin as the two now have similar valuations.
The meme coin scene on Solana has been heating up lately, with a new challenger rising up to take on the top dog BONK. Dogwifhat (WIF), a coin featuring a shiba inu in a knitted hat, has seen tremendous growth over the past week and now matches BONK in market capitalization. This dogfight has major implications for the future of meme coins on Solana.
Dogwifhat’s Meteoric Growth
Dogwifhat launched just before Thanksgiving 2022 and quickly rose over 200,000% in its first weeks. It continued growing steadily into the new year before absolutely exploding over the past week. The coin market cap broke $2 billion for the first time as prices rose 50% in just 24 hours.
Listings on major exchanges like Binance fueled the surge. The meme coin mania sweeping crypto markets recently lifted Dogwifhat to new heights.
BONK Gets Challenged
BONK dominated as Solana’s top meme coin for months, reaching multi-billion dollar market cap. But prices crashed over 80% by December.
Last week, renewed crypto optimism brought BONK roaring back. It hit an all-time high on Monday but has fallen 27% since.
Dogwifhat briefly surpassed BONK’s market cap on Wednesday. The two are now neck-and-neck for the meme coin crown.
The Future of Solana Meme Coins
This battle has enormous stakes for the future of meme coins on Solana. Dogwifhat’s incredible rise shows the potential for exponential growth and dominance. But BONK still retains immense brand power that could help it regain the definitive lead.
The competition is heating up. Whichever token emerges victorious stands to see even greater gains ahead. The meme coin fight on Solana is just getting started.
