Solana-based memecoin dogwifhat hits all-time high
Solana-based memecoin dogwifhat has gained over 50% since its listing on Binance yesterday to reach a new all-time high of around $2.16.Dogwifhat has outperformed its memecoin peers in the last 24 hours — gaining more than 17% compared to a 7% gain for pepe.
Amid bitcoin’s post-all-time high sell-off yesterday, dogwifhat initially fell 17% from around $1.35 to a low of $1.12 as the broader crypto market followed bitcoin’s price action. However, it has subsequently nearly doubled from that low to a new all-time high of its own at around $2.16, according to The Block's price page .
Dogwifhat WIF +12.39% is currently trading at $2.06 — up 17% over the past 24 hours, 240% in the past week and a staggering 1,245% year-to-date. The dog-themed token has now reached a $2.1 billion market capitalization — just three months after it launched in November and went viral.
WIF/USD price chart. Image: The Block/TradingView .
In comparison, memecoin Pepe has gained around 7% over the past 24 hours, while Dogecoin, Bonk, and Shiba Inu each registered losses of around 10%.
While the newer Pepe and Bonk memecoins are also close to their recently set all-time highs, older memecoins Doge and Shiba Inu both remain around 50% down from their record highs, set in April and October 2021, respectively.
The overall memecoin market capitalization is down 0.8% over the past 24 hours, according to CoinGecko. The GM 30 Index , representing a selection of the top 30 cryptocurrencies, increased 0.03% to 145.64 over the same period.
Yesterday, Bitcoin briefly reached a new all-time high above $69,000 for the first time in 846 days. Bitcoin is currently trading at $66,952, according to The Block’s price page .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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