Dogwifhat Leads Solana Meme Coin Losses Amid Network Congestion – Decrypt
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Meme coins such as Dogecoin, PEPE, and WIF have continued to enjoy greater acceptance, which is evident in recent data showing that the demand for them has clocked a new high.
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The $WIF token briefly touched the $4 level yesterday.
Read moreWhile the broader cryptocurrency market has been relatively flat, meme coins have been on a tear, with Dogwifhat leading the pack. The most popular Solana memecoin reached a new all-time high earlier today.
Read moreEver-ascendant Solana token Dogwifhat (WIF) led a rally for meme coins on Tuesday, rising more than 20% overnight as the rest of the crypto market remained largely stagnant.
Within hours, the WIF price—the meme coin of the moment—rose as high as $3.27 early Tuesday morning, before settling to $3.
Illustration by Mitchell Preffer for Decrypt
This week saw several surprising developments for the crypto ecosystem—some positive, some troubling.
Solana (SOL) has experienced an exceptional uptrend, with a staggering year-to-date (YTD) surge of 652%. However, the recent surge in meme coins has further amplified the blockchain’s growth narrative.
Read moreSolana and Ethereum, homes to some of the biggest and most popular meme coins, have both posted gains in the past day.
At the time of writing, SOL has increased by 10% and ETH by 6% compared to this time yesterday. That puts Solana at $189.98 and ETH at $3,541 at the time of writing.
Solana decentralized exchange Jupiter moved fast to help Sloth-themed Slerf meme coin presale buyers who got burnt.
Read moreIt has been a quiet day in the crypto space, but Avalanche (AVAX) and Solana meme coin darling Dogwifhat (WIF) are defying the trend.
The global cryptocurrency market cap today sits at a whopping $2.69 Trillion, marking a modest 1.9% change in the last 24 hours, according to data from Coingecko.
Influential trader GCR purchases the original Dogwifhat meme for 1,210 ETH, causing a 10% WIF token price increase.
Read moreBitcoin may have dipped from its new all-time high it hit yesterday—but smaller cap meme coins and tokens are up big.
The biggest winner is Dogwifhat (WIF), which is up nearly 34% in 24 hours and is priced at $3.21, CoinGecko data shows at time of writing.