The recent resurgence of meme coin frenzy, fueled by the unstoppable rise of the Solana network, has brought meme coins like BONK and WIF into the spotlight. BONK led the charge, but WIF continues to rise, capturing the attention of investors in the meme coin space.
Currently, WIF is trading at $0.26873, and it has surpassed Pepe (PEPE) in 24-hour trading volume, reaching $36.6 million. This growth indicates a shift in the meme coin market, which was previously dominated by Dogecoin and Shiba Inu, with Dogecoin maintaining the lead with a 24-hour volume of $657.577 million and Shiba Inu at $130.4 million.
Newcomers like Bonk (BONK) and Memecoin (MEME) are closing in on the competition with $51.2 million and $47.6 million in trading volumes, respectively. Dogwifhat has notably overtaken Pepe, drawing the crypto community’s focus.
Not only has Dogwifhat’s trading volume increased, but its adoption on cryptocurrency trading platforms is also on the rise. The support from Binance Futures, which recently announced a perpetual contract with up to 50x leverage, has boosted the meme coin’s visibility and potential liquidity.
Significant exchanges for Dogwifhat include Raydium and Gate.io, encompassing both decentralized (DeFi) and centralized markets. This expansion in recognition suggests a renewed interest in Solana-based meme coins, as on-chain data reflects increased network activity for tokens like Dogwifhat, preceding a clear price surge before leveling off.