The Solana-based memecoin Dogwifhat (WIF) has gained investor attention with a surprise surge, increasing over 40% in the last 24 hours, surpassing the $0.30 mark and becoming one of the top-performing cryptocurrencies.
The first potential trigger for WIF’s rise is the support from the Bitget exchange, which added it to its “Innovation and Meme Zone.” Bitget lists trending altcoins in this section for a 60-day evaluation period before officially adding them to the exchange, following the listing of WIF by prominent exchanges like Binance, Bybit, and BitMEX.
Another likely contributor to WIF’s recent upswing is the 10% rise of Solana (SOL) in the past 24 hours, which has begun moving upwards again, trading at $87.33 at the time of this writing.
Dogwifhat isn’t the only Solana-based memecoin to experience a significant surge recently. Bonk Inu (BONK) saw a substantial increase in market value to $2 billion in December 2023 after being listed on leading exchanges like Binance and Coinbase, though its market value later dropped to around $670 million.
Another Solana-based memecoin, Myro (MYRO), made headlines with a roughly 1000% increase in the last 30 days, reaching an all-time high of around $0.25 last week, and is currently trading at about $0.21.