A new Solana-based meme coin, called Dogwifhat (WIF), has surpassed its Ethereum-based counterpart, Floki (FLOKI), in market capitalization, according to CoinGecko. data. The meme coin is now worth $310 million, threatening to challenge the likes of Pepe (PEPE).
A new Solana-based meme coin, called Dogwifhat (WIF), has surpassed its Ethereum-based counterpart, Floki (FLOKI), in market capitalization, according to CoinGecko. data. The meme coin is now worth $310 million, threatening to challenge the likes of Pepe (PEPE).
Performance of major meme coins
The last 24 hours have seen mixed performances. Leading the pack, Dogecoin (DOGE) saw a modest 1.7% gain, and Shiba Inu (SHIB) was not far behind, posting a 1.4% increase. Bonk (BONK) led with a more substantial 8.1% gain, despite a slight hourly drop, continuing its notable 34.1% rise over the past week.
Pepe (PEPE) saw a slight rebound of 0.6%, while CorgiAI (CORGIAI) followed with a slight decline of 0.8%. Top performer Dogwifhat (WIF) rose an impressive 45.4%, further fueling the speculative fire that has seen its value soar 222.0% in the past week.
Floki (FLOKI), on the other hand, had a more subdued 24 hours with a 1.5% rise, while Memecoin (MEME) jumped 15.7%, showing solid weekly growth. Baby Doge Coin (BABYDOGE), however, fell 0.5%.
BONK has faded, but what comes next?
After the BONK-fueled Solana rally concluded, the meme coin market saw a significant drop, with prices falling as much as 80% from its peak.
However, despite this setback, there is talk of other Solana-based meme coins that could reignite interest in the network.
As noted above, BONK itself has seen a modest 8% increase in the last 24 hours; the broader decline has not deterred the growth of the Solana ecosystem.
However, other meme coins may yet catalyze another rally as investors continue to search for the next rising star.
