The Surge of Meme Cryptocurrencies
The capitalization of 3 out of 10 largest meme cryptocurrencies more than tripled in the last seven days with Dogwifhat (WIF) being an undisputed best performer. Shiba Inu (SHIB), Bonk (BONK) prices doubled, while other majors saw double-digit price increases.
Solana’s Dogwifhat (WIF) Achieves New Heights
Dogwifhat (WIF), a novel dog-themed meme coin on the Solana (SOL) blockchain, registered its price all-time high today, March 2, 2024. The price of WIF reached an unbelievable $1.33 level on major spot and crypto centralized exchanges.
As a result, the capitalization of Dogwifhat (WIF) reached the previously unseen $1.317 billion mark. The token managed to accomplish 10-digit capitalization less than three months after launch.
Dogwifhat (WIF) exceeded one of the most popular meme coins Floki (FLOKI), a partner of BitGo, AliExpress and Binance heavyweights. Floki (FLOKI), at the same time, soared by 80% in the last 24 days.
As covered by U.Today previously, Solana’s meme coins Bonk (BONK) and Dogwifhat (WIF) are the most overhyped beneficiaries of the early Q1 2024 meme cryptos frenzy.
The coins managed to benefit from the increased interest in Solana (SOL) and the evergreen popularity of meme coins amid aggressive narrative-led investors.
Meme Coins Segment Soars
Should WIF’s rally continue, it has all chances to replace CorgiAI (CORGIAI) as the fifth largest meme coin, joining the elite club of Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE) and Bonk (BONK).
The segment of meme coins is rocketing in early March 2024. Today, it smashed through $42 billion capitalization, following a 34% overnight price increase.
The aggregated trading volume targets $17 billion, CoinGecko data says.
