dogwifhat seems to be to tackle BONK, with memecoins dominating DEX buying and selling volumes on Solana in latest weeks.
Solana-based memecoin, dogwifhat (WIF), surged to an all-time excessive of $0.49 earlier at this time after Binance introduced that it will listing perpetual futures for the asset.
WIF’s market capitalization has now surpassed $400M, placing it firmly in second place amongst Solana memecoins behind BONK, which instructions a valuation of $1.2B on the time of writing.
At at this time’s intraday excessive, WIF briefly flipped PEPE, the memecoin that took Ethereum by storm final yr.
It’s value noting that WIF’s surge comes alongside the broader resurgence of the Solana (SOL) ecosystem. SOL is up 30% previously 30 days and is buying and selling round $100 for the primary time since April 2022.
Launched in November 2023, WIF took off simply earlier than Christmas amid renewed investor curiosity in memecoins after BONK rallied 500% in a matter of weeks.
Certainly, WIF and BONK account for over $1B of buying and selling quantity within the final month on Jupiter, a number one Solana DEX.
