The rise of dogwifhat (WIF) in the cryptocurrency market, particularly on the Solana blockchain, has been remarkable, as it surpassed the likes of PEPE in terms of market capitalization. As of now, WIF stands at over $4, with a market capitalization exceeding $3.7 billion, putting it ahead of PEPE, which itself experienced significant growth in 2024.
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The surge in WIF's value has contributed to the overall expansion of the meme coin market, with notable increases also seen in DOGE and FLOKI. DOGE remains the leader in terms of market capitalization among meme coins, followed by SHIB.
Interestingly, despite the substantial gains, there are reports of a wallet that began purchasing WIF at a mere $0.24 in December 2023 and has yet to sell its holdings. This wallet has accrued profits exceeding $135 million, highlighting the potential gains investors have witnessed with the meteoric rise of WIF.
Overall, the meme coin market has seen a total market capitalization surpassing $70 billion, indicating the growing interest and investment in this sector of the cryptocurrency market.
