Solana-based viral meme coin, according to CoinGecko data dogwifhat (WIF) showed a remarkable performance, increasing by approximately 17% in the last 24 hours. This cryptocurrency gained attention by reaching a peak of $4.00. Launched in November 2023, the Solana-based meme coin quickly became one of the most popular trends in the meme coin scene.
Currently, WIF is another popular meme coin Pepe (PEPE) has a significant lead over it. At press time, WIF and PEPE were valued at $3.6 billion and $3.3 billion, respectively. PEPE, on the other hand, recorded only a modest price increase of 1.3% in the last 24 hours. The meme coin, inspired by the controversial Pepe the Frog webcomic character, fell 4.1% last week.
dogecoin (DOGE) still remains the largest meme coin with a market value exceeding $30 billion. Meme coin is up 30% in the past week and is currently ranked 9th by market cap. Shiba Inu (SHIB) has become the red currency, losing 0.3% in the last 24 hours. However, its main Dogecoin rival was still up 8.3% last week.
Bloomberg Television’s What’d You Miss? show co-host Joe Weisenthal recently attempted to explain the surprising appeal of meme cryptocurrencies, arguing that they help meet the demand for “extremely asymmetric bets.” Such cryptocurrencies can offer huge returns that can hardly be matched by traditional investments. However, it should be noted that those who will invest should do their own research.
