Crypto Sensation WIF Flips PEPE to Become the Third-Biggest Meme Coin: Details
TL;DR
- WIF hits a new ATH, while other meme coins such as DOGE and SHIB are also well in the green.
- Despite the impressive gains, investors are cautioned to be careful when dealing with assets of that type due to their infamous volatility.
The trending Solana-based meme coin dogwifhat (WIF) seems to have no limitations, charting a new all-time high price of $4 (per CoinGeckos data). Its market capitalization touched a whooping level of $4 billion.
WIFs market cap currently stands at approximately $3.7 billion, making it the 40th-biggest cryptocurrency and the third-largest in the meme coin realm. Pepe Coin (PEPE) dropped to the fourth position with a capitalization of around $3.3 billion.
WIFs latest resurgence coincides with a significant revival of the meme coin niche. The leading asset of that type Dogecoin (DOGE) exceeded the $0.20 mark, witnessing gains of 32% on a weekly scale. Shiba Inu (SHIB) is also well in the green, albeit in a more modest fashion.
It is safe to say that WIFs success is more than impressive considering the fact that it entered the market at the end of last year. Its price is up over 2,000% since the beginning of 2024 and the rally caught the eye of some prominent industry participants.
One example is Arthur Hayes BitMEXs co-founder who posted a photo of himself wearing a hat (referring to the tokens name and logo). Here recently said the hat stays on while I count to $10.
Another factor possibly contributing to WIFs price increase is the support from leading cryptocurrency exchanges. Binance, BitMEX, Coinbase, and Kraken are some of those that enabled trading services with the asset.
Dogwifhats upswing has been more than welcomed by savvy traders who hopped on the bandwagon in its early days. As CryptoPotato reported, one particular investor bought more than 2.5 million tokens at the end of 2023, spending just $310. Currently, the stash is worth over $9 million.
On the other hand, traders should be aware that dealing with meme coins could also lead to crucial losses due to the infamous volatility of the asset class. Those about to enter the ecosystem should check our video below to avoid some common mistakes:
The post Crypto Sensation WIF Flips PEPE to Become the Third-Biggest Meme Coin: Details appeared first on CryptoPotato.
Text source: CryptoPotato
