Dogwifhat Briefly Surpassed Bonk To Become Most Valuable Solana Memecoin

Solana’s memecoin Dogwifhat (WIF) briefly flipped Bonk (BONK) because the community’s main memecoin by market capitalization.

BONK was the main Solana memecoin after a staggering rally in November final yr, which noticed it climb to a $1.5 billion valuation in over a month amidst a worth surge within the Solana ecosystem. Nevertheless, it skilled a major crash in December, shedding over 80% of its worth inside weeks.

In the meantime, Dogwifhat, launched in late November as an homage to a well-liked Shiba Inu meme, skilled an exceptional rise. This upward trajectory continued steadily till final week, when the coin witnessed an explosive fivefold worth improve, leaping from $0.37 to $2.2 in a matter of days. This surge was partially attributed to the coin’s itemizing on main cryptocurrency exchanges like Robinhood Europe and Binance throughout that interval.

Nevertheless, each BONK and WIF have retraced a few of its positive factors, reflecting a broader market pullback after current bullish developments. Bonk is presently buying and selling at $0.00002898, down virtually 40% from its highs of $0.00004704, whereas WIF is presently buying and selling at $1.82, down 18.7% from its all-time-highs of $2.23.

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