In a surprising turn of events, the price of Dogwifhat (WIF), one of the most popular meme tokens in the Solana ecosystem, has seen a notable surge, skyrocketing over 50% in the past few hours. After hitting a low price of $0.0805 yesterday, marking its lowest point since December 19, the meme coin began a strong recovery with a new daily candle, reclaiming the territory of $0.14 per token.
In a surprising turn of events, the price of Dogwifhat (WIF), one of the most popular meme tokens in the Solana ecosystem, has seen a notable surge, skyrocketing over 50% in the past few hours. After hitting a low price of $0.0805 yesterday, marking its lowest point since December 19, the meme coin began a strong recovery with a new daily candle, reclaiming the territory of $0.14 per token.
However, the spike was short-lived as WIF encountered local resistance, triggering a subsequent sell-off that corrected the price by 9%.
Despite this correction, Dogwifhat currently ranks as the third most trending coin in the last 24 hours, according to DEX Screener. Surprisingly, WIF secures the second position in terms of trading volume, only behind Pepe Coin (PEPE) with a substantial $13.5 million.
According to data from CoinMarketCap, on the other hand, Dogwifhat’s total trading volume, including centralized exchanges, has increased to $57.35 million, which is a staggering 92% increase in the last 24 hours alone.
“The hat stays on”
What sets Dogwifhat apart is its association with an actual hat-wearing Shiba Inu, a departure from the more traditional cartoonish meme approach. The meme, featuring a dog in a hat, has been circulating on the internet since 2020, but its resurgence in the form of WIF has attracted new attention, thanks to the surprising price increases of SOL and BONK.
With a current capitalization of $128.43 million, Dogwifhat emerges as a potential candidate for the title of the 10th largest meme coin in the cryptocurrency market, further cementing its position as a force to be reckoned with in the forever. amazing panorama of meme coins.
