Solana- Based Memecoin Surges; WIF Grew Over 70%, Ranked 7th

In the past 24 hours, the Solana-based memecoin dogwifhat (WIF) showed a significant surge of 71.34% in terms of trading price. However, its trading volume and market cap also grew intraday.

As per dozens of market analysts, the news of WIF listing on one of the leading centralized crypto exchanges, Binance spiked the trading volume of the memecoin by 287.14%. The growth indicates that some leading crypto moguls have invested millions in WIF to enjoy the claimed milestone post listing.

Dogwifhat (WIF) total supply is 998,920,173 WIF. However, most recently, the Solana based token broke its previous highs and traded highest at $0.3313 (December 22, 2023). Similarly, its lowest trading price was observed in the first week of 2024.

Following 1st ETF approval in the US, evangelists are now predicting that dogwifhat ETF will also enter the market soon. In his recent post on ‘X,’ Arthur Hayes wrote that “Putting my final touches on my next essay “ETF WIF Hat” and I need a good photo. Please send the best Gary Gensler Wif Hat meme. I will choose the one I like the best as the leading photo for the essay.”

After achieving these unprecedented milestones in the past 24 hours, WIF has replaced the seventh largest memecoin community and acquired the position, moreover on January 10, it was 9th on the list.

The official ‘X’ account of dogwifhat community has approximately 22.4 k followers, as per Solscan website, the top 100 whales collectively own 387,400,173.15 Tokens, around 38.78% of total supply.  387,400,173.15 Tokens (38.78%). 

As of January 08 2024, active holders of WIF are 339 and total number of this memecoin holders is greater than 33K. Jupiter, a cryptocurrency exchange, has contributed a major portion in the entire trading volume of the dogwifhat. The most traded pair is $WIF-SOL.  

Memecoin Community Overview 

In the past 24 hours, the trading volume of the entire memecoin community grew by 6.77% and market capitalization reflected a growth of 8.08%. It is important to note that the top memecoin in all aspects is Dogecoin (as per CoinMarketCap), followed by Shiba Inu, BONK, PEPE, FLOKI, MEME and WIF. 

In terms of prices, 4-CHAN has shown the most growth compared to others, as its prices grew 4173.49% in the past 24 hours, PEPE has become the 4th biggest memecoin in terms of price upward movement.

The market capitalization of the entire crypto market grew 5.67% intraday and was $1.8 Trillion as of writing. The approval of 1st spot ETF in the U.S has stirred the market in a positive manner and in the coming time many other milestones are expected to be achieved.

Disclaimer

The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.