The emerging Solana-based meme coin dogwifhat (WIF) has managed to surpass both Dogecoin (DOGE) and Shiba Inu (SHIB) by daily trading volume, according to data provided by Gecko Coin.
The emerging Solana-based meme coin dogwifhat (WIF) has managed to surpass both Dogecoin (DOGE) and Shiba Inu (SHIB) by daily trading volume, according to data provided by Gecko Coin.
In the past 24 hours, WIF has recorded a trading volume of nearly $600 million.
Pepe (PEPE), another prominent meme coin, takes second place with a trading volume of $518 million during the same time period.
Mushumir’s buttFor comparison, DOGE, the undisputed leader of the meme coin sector, only ranks third with $424 million.
Shiba Inu, the second-largest meme coin with a market cap of $10.2 billion, is only in sixth place with a relatively modest transaction volume of $172 million. In fact, it has fallen below Bonk (BONK) and Floki Inu (Floki Inu). The two aforementioned meme coins have recorded a transaction volume of $208 million and $191 million, respectively.
The figures show that traders are showing more interest in less-established meme coins compared to current market leaders.
The resurgence of the meme coin
Overall, the entire meme coin sector is in the green, with some prominent meme coins (such as WIF and Bonk) recording double-digit price gains.
Dan BurginOn Sunday, Murad Mahmudov, a well-known financial analyst, He suggested that the meme coin could be in the process of building a massive descending wedge on higher time frames.
Meanwhile, PeiPei (PEIPEI) has emerged among the leaders of the meme coin sector, with trading volume approaching $150 million. The relatively unknown altcoin has surged by as much as 37% over the past 24 hours, becoming one of the best-performing cryptocurrencies in the top 10.
