Memecoin on Solana grows 141%, breaks into top 300

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In a stunning turn of events, the much-hyped memecoin Dogwifhat (WIF) on the Solana blockchain has reached new heights, gaining an impressive 141% in the past 48 hours. This rapid rise pushed the Meme token’s market capitalization to a staggering $144 million before falling back down again.

WIF price chart. Source: TradingView

It is worth noting that Dogwifhat has now entered the top 300 digital assets in the cryptocurrency market, marking an important milestone for memecoin in the Solana ecosystem.

According to the latest data from Coingecko, WIF has established its position as the ninth largest memecoin by market capitalization, further strengthening its reputation as a prominent player in the memecoin space.

The unique charm of Dogwifat lies in its distinctive features, especially the image of the Shiba Inu wearing a knitted hat.

The quirky and charming design caught the attention of the cryptocurrency community, leading to a rise in popularity and a series of posts featuring the iconic dog.

Solana’s third round of price increase?

The resurgence in Dogwifhat’s value can be attributed to the positive atmosphere surrounding the broader cryptocurrency market, especially altcoins.

Solana, an altcoin at the forefront of recent growth in the cryptocurrency market, has experienced a massive price surge that has had a knock-on effect on all Solana-based tokens, including the popular Dogwifhat.

As of this writing, the price of WIF is $0.13. Riding on memecoin’s stellar performance and the Solana ecosystem’s continued bullish trend, Dogwifhat continues to ride the wave and captivate the community with its quirky appeal.