Viral Solana-based meme coin dogwifhat (WIF) is up roughly 17% over the past 24 hours, according to data provided by CoinGecko.
The whimsical cryptocurrency has managed to reach a lifetime peak of $4.00.
The Solana-based meme coin was launched in November 2023. It quickly become one of the hottest trends on the meme coin scene.
WIF now has a substantial lead over Pepe (PEPE), another popular joke cryptocurrency. At press time, WIF and PEPE are worth $3.6 billion and $3.3 billion, respectively.
PEPE has managed to record only a modest 1.3% price spike over the last 24 hours. The meme coin, which was inspired by the controversial Pepe the Frog webcomic character, is down 4.1% over the last week.
Dogecoin (DOGE) remains the biggest meme coin, with its market cap exceeding $30 billion. The top dog is up 30% over the past week, currently occupying 9th place by market capitalization.
Shiba Inu (SHIB) is currency in the red, slipping by 0.3% over the past 24 hours. With that being said, the main Dogecoin competitor is still up 8.3% over the last week.
As reported by U.Today, Joe Weisenthal, the co-anchor of What’d You Miss? on Bloomberg Television, recently tried to decode the puzzling appeal of meme cryptocurrencies, arguing that they help to satisfy the demand for “extremely asymmetric bets.” Such cryptocurrencies can offer outsized returns that can hardly be matched by any traditional investments.
