Dogwifhat (WIF) leads meme coin rally with 19% surge
WIF, the native token of Solana meme coin Dogwifhat, has surged 19% and has ranked as a prime gainer within the crypto market immediately.
On the time of writing, WIF was exchanging palms at $2.31, up 19% within the final 24 hours, per information from CoinMarketCap (CMC). The crypto asset’s each day buying and selling quantity was additionally up 34%, hovering round $432 million.
In the meantime, the meme coin, based mostly on an image of a Shiba Inu canine carrying a pink knitted cap, has additionally witnessed its market cap surpass $2.3 billion. Nevertheless, WIF remains to be buying and selling 55% under its all-time excessive attained on March 31.
The most recent surge in WIF follows a significant asset supervisor, VanEck, submitting with the SEC for the first-ever Solana exchange-traded fund (ETF) within the U.S.
VanEck’s transfer has seemingly bolstered renewed enthusiasm from traders in Solana-based meme cash who anticipate a possible value surge in such tokens following the approval of the Solana ETF.
In the meantime, Market Spotter, recognized for his or her superior buying and selling indicators, famous on X on July 1 that WIF has damaged the trendline of resistance and has predicted a goal value of $4.5.
WIF’s value bounce additionally comes amid the broader meme coin market, which has climbed by 4.3%, standing at $49.2 billion within the final 24 hours. Apart from WIF, different common meme cash with notable value surges had been Pepecoin (PEPECOIN), Bonk (BONK), and Brett (BRETT), which recorded good points of 9%, 8%, and seven%, respectively.
In the meantime, the worldwide crypto market has additionally skilled a 3% surge, bringing it to a complete valuation of $2.33 trillion. Bitcoin, the pioneering cryptocurrency, can also be within the inexperienced, up 2.7% and exchanging palms at $63,034, per information from CMC.
