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Dogwifhat (WIF)

Solana’s Largest Meme Coin Hits The Vegas Strip

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Solana’s newest memecoin star, Dogwifhat [WIF], is set to make an appearance on the iconic Vegas Sphere after successfully raising $681k in just three days. WIF’s price and market cap have grown by leaps and bounds, with more investors and traders betting on the token’s popularity. The price reached an all-time high, making it the largest meme coin on the Solana blockchain.

WIF’s rapid ascent has sparked conversations about its evolving beyond the realm of meme-based cryptocurrency and transitioning into a more serious contender in the world of alternative digital assets, or altcoins.

Dogwifhat is leveling up! From meme to might, it now hits a $3 billion cap. With its mascot set to dazzle Las Vegas’ Sphere, is WIF shedding its meme status for altcoin fame?

Solana
Solana's Largest Meme Coin Hits The Vegas Strip 2

Sporting an image of a dog donning a hat as its logo, the project claims to be “the most sophisticated meme coin ever made. In contrast to Dogecoin, which operates on its proprietary blockchain, dogwifhat leverages Solana’s fast and scalable chain, thus facilitating smart contracts and decentralized applications. WIF harnesses SOL functions such as lower charges attached to transactions, large scale, and seamless interoperability with other blockchains, ensuring a smooth trading experience for users.

Solana’s Meme Coin Boom

The meme coin craze has escalated to unprecedented levels as one anonymous trader purportedly amassed a fortune. On November 26, 2023, the trader acquired 2.58 million WIF tokens for a mere $310, or 5.288 SOL. As reported by TronWeekly, they sold these tokens for an astounding $1.4 million, marking an incredible return of over 451,000%.

Overall, the Solana meme coin ecosystem is exploding, with a nearly $7 billion valuation, representing around 10% of the total market. Recently, Messari CEO Ryan Selkis lauded Solana’s standout features, such as a seamless trading experience highlighted by tools like Phantom and Backpack, DEXscreener trading integration, minimal fees, and rapid transaction processing. In a market cluttered with speculative tokens, these elements collectively distinguish the blockchain, setting it apart from the rest.

A disclaimer: Investors should exercise caution when dealing with meme coins, as they are subjected to market volatility and inherent risks. It is advisable to conduct thorough research before considering any investment in these assets.

Dogwifhat Skyrockets 50% Overnight, Smashing BONK, DOGE To $2

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The Solana-based meme coin Dogwifhat (WIF) has seen a whopping 50% rise in value within the last 24 hours. With a price of $2.02 and a market cap of more than $2 billion, this unbelievable growth broke records and outperformed established rivals like DOGE and BONK for barely three months after its initiation.

Dogwifhat’s rise is a sign of the recent success of meme coins, with CoinGecko showing an average surge of 2.8% for coins worth more than one billion dollars. Myro (MYRO) and Mog coin (MOG), among other less popular ones, have also experienced notable gains from 80% upwards.

However, the token went viral since its November 2023 release due to its association with a whimsical picture of a dog wearing a hat which struck a chord within the crypto community. This link is responsible for WIF’s memetic power besides fostering investor and fan unity.

On the last day alone, WIF saw up to $1 billion in trading volume, proof that it is increasingly becoming more popular. It is a major meme token that has never crossed the psychological benchmark of $1, as other leading meme coins have not been able to do so, such as dogecoin (DOGE) and Shiba Inu (SHIB).

This meteoric rise was likely catalyzed by the token being listed on Binance, a top cryptocurrency exchange with $219 million worth of trades on WIF in just one day. The value of the token may also have been boosted by speculations of future listings as well as its increasing popularity among investors.

Dogwifhat Surge Reflects Meme Coin Momentum

Since late February, meme coins have captured the spotlight, riding the coattails of a bitcoin-led rally. These tokens are increasingly viewed by investors as a speculative bet on the expansion and adoption of their respective blockchain networks.

According to CoinMarketCap, Currently, WIF is trading at $2.02, with a market cap of $2.06 billion. It has increased 50% in the last 24 hours and 193% in the last 7 days.

WIF 1D graph coinmarketcap
Source: CoinMarketCap

Dogwifhat’s performance is evidence of the changing trends in the cryptocurrency industry, where meme coins are no longer marginal stuff but players shaping the future of digital assets. Dogwifhat’s historic run may signal new dynamics in a rapidly growing cryptosphere.

Related Reading | Bitcoin’s $69K Wild Ride: Decade-Old Addresses Holds The Key

Dogwifhat’s WIF: On the Verge of $2?

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Another meme currency that was influenced by the Shiba Inu dog meme is Dogwifhat. According to CoinMarketCap, the token’s price has increased by about 900% from its introduction in November 2023. The value of the token increased from $0.1797 to $1.67 in slightly over three months.

The coin updated to a new historical maximum of $1.92 on March 4. Among whale speculators’ preferred coins since December is WIF. Many tales surfaced about whales that traded WIF and made incredible profits. Driven by the optimistic outlook that permeates the sector, WIF has increased by an astounding 320% in just one week, crossing the $1 billion valuation threshold.

The brains of BitMEX, Arthur Hayes, are boosting trust in the crypto world with his optimistic view of WIF. Declaring, “The hat remains on.” $WIF is equal to $2. Folks, let’s make it happen. How are you going to use your wealth from puppy money? This upbeat declaration from Hayes has added to the growing buzz about Dogwifhat.

Furthermore, cryptocurrency dealer AltcoinSherpa stated that “leaders will continue to lead,” highlighting the general optimism regarding WIF’s future.

Bulls have taken the lead in the market narrative for Dogwifhat, driving its valuation to previously unheard-of heights. WIF has increased by 35% to $1.20 at this time, and its trade volume has increased by an astounding 75% to $388 million. In the midst of all of this trading activity, WIF’s value changed in a single day from $0.83 to $1.32.

Dogwifhat
Dogwifhat's WIF: On the Verge of $2? 5

Dogwifhat has made significant gains by riding this trend, hitting an all-time high of $1.88, however, it is currently 11% below this peak. The asset is trading brilliantly at $1.71, indicating a 727.98% increase over the last 30 days, underscoring the meteoric development of the meme coin based on Solana.

Early Dogwifhat Trader Turns 5 SOL Into $4.1 Million Profit

The dealer purchased 2.58 million WIF, currently valued at $4.1 million, for 5.288 Solana (SOL), worth $310, as Lookonchain experts recalled. The trader made a total transaction of $1.21 million by selling 750,000 WIF for 9,363 SOL. With a total worth of $2.91 million, the trader’s balance is currently at 1.83 million. The assets’ worth climbed by 13,307 times, reaching $4.12 million in total.

Solana Meme Coin Dogwifhat (WIF) Makes Trader A Millionaire Overnight

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An anonymous trader has made his fortune after investing in a Dogwifhat (WIF) meme coin that is run by Solana blockchain. On 26th November 2023, the trader only paid about $310 for those 2.58 million WIF tokens, equivalent to 5.288 SOL, and sold them today at a whopping $1.4 million for a return of over 451,000%.

A tweet from Lookonchain, a blockchain analytics platform, was the first source to report on the transaction, which also stated that this is one of those times when WIF has risen by 50% over the last day in the market, whereupon it commended the trader’s market timing and investment sense.

Dogwifhat is one of many meme coins in the crypto space that came about because of Dogecoin’s (DOGE) popularity, a coin that was originally just a fun thing but ended up being one of the top cryptocurrencies. This dog-wearing hat on its head is featured as the dogwifhat logo, which purports to be “the most sophisticated meme coin ever made.

However, unlike Dogecoin, which operates on its own blockchain, dogwifhat runs on Solana. It is a very fast and scalable chain, thus facilitating smart contracts and decentralized applications. WIF uses some of the functions in Solana, such as lower charges attached to transactions, large scale, and easy relationship with other blockchains so that people trading in it can do so without experiencing any problems.

Dogwifhat Surges: Price Hits All-Time High

Recently, Dogwifhat’s price and market cap have grown significantly, with more investors and traders investing in this coin due to its popularity. As per CoinMarketCap figures, WIF is now changing hands at $0.6267, representing a 46.77% gain over the past day and a 67.74% rise over the last month. Alongside that, it hit an all-time peak of $0.5699 today eclipsing its previous record of $0.6393 on Feb 27, 2024.

WIF 7D graph coinmarketcap
Source: CoinMarketCap

The Dogwifhat’s trading activity is up as well, implying the interest and enthusiasm from the market participants. WIF recorded a 24-hour trading volume of $150,883,220; which is an increase of 185.38% from yesterday. WIF has been listed on various platforms, including FTX, Serum, and Raydium, among others, where WIF can be purchased or sold using other cryptocurrencies.

Dogwifhat’s market capitalization has also grown a lot, increasing by 47.72% from yesterday to $626,107,560 today. In the world of cryptocurrencies, it is now the 117th in terms of market capitalization, overtaking many familiar and well-established coins like Decred (DCR), Zcash (ZEC), and Horizen (ZEN). Furthermore, Dogwifhat is about to cross half a billion dollars in market cap which is very impressive for a meme coin.

Dogwifhat’s impressive performance has attracted the attention of the cryptocurrency community worldwide, as many users are curious and amused by the meme coin’s success. Some users have expressed their admiration and envy for the trader who made $1.4 million with WIF, while others have speculated on the future potential and direction of the coin.

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