u.today
In a surprising turn of events, the price of Dogwifhat ($WIF), one of the hottest meme tokens in the Solana ecosystem, has experienced a remarkable surge, soaring over 50% in the past few hours. After hitting a price low of $0.0805 just yesterday, marking its lowest point since Dec. 19, the meme coin initiated a sharp recovery with a new daily candle, reclaiming the $0.14 per token territory.
However, the peak proved short-lived as $WIF encountered local resistance, prompting a subsequent sell-off that corrected the price by 9%.
Despite this correction, Dogwifhat currently stands as the third most trending coin in the last 24 hours, according to DEX Screener. Impressively, $WIF secures the second position in terms of trading volume, trailing only behind Pepe Coin (PEPE) with a substantial $13.5 million.
According to CoinMarketCap data, on the other hand, the total trading volume of Dogwifhat, including centralized exchanges, has surged to $57.35 million, marking an astounding 92% increase in the last 24 hours alone.
"Hat stays on"
What sets Dogwifhat apart is its association with a real Shiba Inu donning a hat, a departure from the more traditional cartoonish meme approach. The meme, featuring a dog in a hat, has been circulating on the internet since 2020, but its resurgence in the form of $WIF has garnered newfound attention, thanks to the astonishing price surges of SOL and BONK.
With a current capitalization of $128.43 million, Dogwifhat emerges as a potential contender for the title of the 10th largest meme coin in the crypto market, further solidifying its position as a force to be reckoned with in the ever mind-blowing meme coin landscape.