Solana’s Dogwifhat (WIF) Skyrockets 1300% And Claims Forbes’ Best-Performing Crypto Title
July 15 2024 - 10:00PM
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Solana-based meme coin Dogwifhat (WIF) has taken the cryptocurrency
market by storm, becoming the best-performing asset in the first
half of the year, as the Shiba Inu puppy-inspired token has
outperformed Bitcoin’s (BTC) 48% surge since January, making it the
top returner among approximately 70 coins with market caps over $1
billion. Dogwifhat (WIF) Leads The Pack According to Forbes,
Dogwifhat has emerged as the leading performer among the group of
coins, with a market cap of more than $1 billion, recording a
1,300% gain from a low of $0.111 since December 2023. Close behind
is Pepe (PEPE), recording gains of nearly 800%. At the same time,
another meme coin that has significantly increased is Floki Inu
(FLOKI), named after Elon Musk’s Shiba Inu dog, recording a 418%
increase over the same period. Similarly, Shiba Inu (SHIB) has seen
a 67% increase. Related Reading: Bitcoin Bears Crushed: $100M
In Crypto Shorts See Flush As BTC Breaks $63,000 While meme coins
dominate the spotlight, the report notes that several tokens
outside the meme coin realm have also showcased remarkable rallies,
surpassing Bitcoin’s performance. ETH, the token of the
Ethereum network, is up 51% and is poised for potential gains after
the expected full approval of the spot Ethereum ETF market, similar
to Bitcoin, anticipated to be traded in the coming weeks.
Binance Coin (BNB), issued by the world’s largest crypto exchange
by trading volume, has also surged 81%, outperforming BTC’s price
action despite recent regulatory and legal challenges faced by
billionaire former CEO Changpeng Zhao (CZ), who is currently
serving a 6-month sentence following a plea deal with US
authorities in 2023. Meme Coin Bonanza While WIF has become the
star performer with a 1,306% increase, its market cap has also made
a notable recovery in recent months after losing a high of almost
$4 billion to currently reach a market cap of $2.1 billion, which
has secured Dogwifhat’s 54th place in the top 100 cryptocurrencies
on the market. Pepe also follows behind WIF in this key
financial metric, reaching a market cap of $5 billion. However, the
two are far behind Dogecoin (DOGE) and SHIB’s market cap figures,
which currently stand at $17 billion and $10 billion, respectively,
being the largest meme coins in the crypto market. Related
Reading: JPMorgan Says Crypto Liquidations Will End And Bitcoin
Bull Market Will Begin, Here’s When Other coins, such as Artificial
Superintelligence Alliance, also outperformed the largest
cryptocurrency on the market, surging 545% to reach a market cap of
$3.6 billion during the same period, while Floki experienced a
growth of 392% to reach a market cap of $1.6 billion following the
recent market slump recorded since March and April highs. At
the time of writing, WIF continues to rally and is trading at
$1.899, up over 14% in the last 24 hours. However, the meme coin is
trading 60% below its all-time high of $4.83, set in March
2024. Featured image from DALL-E, chart from
TradingView.com
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