dogwifhat Solana-based meme coin called (WIF) has gained a lot of attention after being featured on well-known trading platforms such as Robinhood, KuCoin and Binance Futures. This move highlights the growing popularity of meme coins and the influence of major names in the crypto space. After the news broke, one whale invested SOL 9,999, worth approximately $1.34 million. This led to a significant price increase in the meme coin and attracted attention on the market in general.
The main reason for WIF’s rise is due to the current bull market that meme coins in particular are experiencing. The coin gained an impressive 300% last week, fueled by the meme coin festival. In particular, one trader who purchased 2.58 million WIF coins for just $310 three months ago saw the value of their investment exceed $3.12 million amid the ongoing rally.
Despite the rise in price, whales’ interest in WIF remains strong. Just six hours ago, in a landmark transaction, a whale invested $1.34 million to acquire 1.49 million WIF tokens, underlining the growing interest in the coin. These big whale moves were instrumental in the huge increase in WIF’s price. However, according to Lookonchain, a Solana whale also bought $1.34 million worth of WIF tokens right after the Robinhood listing.
In addition to Dogwifhat’s rally, other meme coins Shiba Inu (SHIB) and Dogecoin (DOGE) also made significant gains. The price of SHIB increased by 52.85% in the last 24 hours, reaching $0.00001976. Additionally, its market capitalization exceeded $11.65 billion. At the same time, DOGE’s rally continues. The current 18% increase and a significant 66% increase over the past week are notable.
Current Market Snapshot
meme coinThe current rise in ‘s shows the excitement of both regular and large investors. After reaching a low in January, WIF rose 1400% to a record $1 on March 1, 2024. The Relative Strength Index remained above 70% between February 26-29, indicating overbought conditions. Although it briefly fell below 70%, it was back above that threshold by March 1, 2024.
Koinfinans.com As we reported, the price of WIF has increased by 272% since February.
