The Solana-based meme coin known as dogwifhat (WIF) has surpassed Pepe (PEPE) in 24-hour trading volume, according to data provided by CoinGecko.
Dogwifhat’s trading volume reached $36.6 million, surpassing that of long-time favorite Pepe, which recorded a volume of $35.6 million, marking a new milestone for the promising digital asset.
The Solana-based meme coin known as dogwifhat (WIF) has surpassed Pepe (PEPE) in 24-hour trading volume, according to data provided by CoinGecko.
Dogwifhat’s trading volume reached $36.6 million, surpassing that of long-time favorite Pepe, which recorded a volume of $35.6 million, marking a new milestone for the promising digital asset.
Top meme coins by trading volume
Dogecoin and Shiba Inu have long been the titans of the meme cryptocurrency space by trading volume, but the landscape is changing rapidly.
Dogecoin maintains a commanding lead with a 24-hour volume of $657,577,938, while Shiba Inu follows with $130.4 million.
However, new entrants such as Bonk (BONK) and Memecoin (MEME) are also making waves, with respective trading volumes of $51.2 million and $47.6 million.
Dogwifhat, which previously ranked lower, has seen a significant increase in trading activity, overtaking Pepe.
More recognition for Wif
The dogwifhat meme coin is gaining ground, not only in terms of trading volume but also recognition within cryptocurrency trading platforms.
Binance Futures recently announced the launch of a perpetual contract with up to 50x leverage, amplifying the visibility and potential liquidity of the meme coin. The top markets for dogwifhat by trading volume include decentralized and centralized exchanges such as Raydium and Gate.io, indicating growing appeal among both decentralized finance (DeFi) enthusiasts and traditional traders.
This growing recognition is fueled by a resurgence of interest in Solana-based meme coins. On-chain metrics have indicated an increase in network activity for Solana and, by extension, tokens like dogwifhat, which recently saw a substantial rally before leveling off.
The value of the meme coin is rooted in the virality of its associated images (a dog wearing a hat) and the “wif hat” meme that has become popular in the crypto community.