[Dogwifhat (WIF) price surges 21% to hit record high]
Recently, meme-type cryptocurrencies have experienced strong gains. Dogwifhat (WIF), the world's fourth largest meme coin, has risen 21% in the past 24 hours, reaching a price of $3.35 and a market value of $3.35 billion. Additionally, its daily trading volume also increased by 44% to $565 million.
Dogwifhat (WIF) hit highs of $4.9 in March during the 2024 super bull run. The soaring price of the coin has attracted widespread attention from the global crypto community, and it has become one of the top 50 cryptocurrencies by market capitalization just a few months after its listing.
However, WIF prices fell sharply in April and the market experienced volatility. Currently, Dogwifhat is showing a strong rebound momentum, successfully breaking out of the downtrend and heading towards a new record high.
Dogwifhat is a project that imitates Dogecoin on the Solana blockchain. Its official website calls itself a "literal dog wearing a hat" with minimalist humor. In the absence of practical application value, the community uses guerrilla marketing strategies to increase its value and plans to make a splash at the Las Vegas Globe.
Stratos, a California venture capital company, recently revealed that its investment in Solana’s imitation currency Dogwifhat (WIF) has made more than 300 times the profit. After investing at a price of about US$0.01 in December last year, the current trading price of its holdings has reached 3.43 Dollar. According to CoinGape, the price of WIF is expected to rise to $10 in May.
Cryptocurrency exchange BitMEX founder Arthur Hayes also expressed support for Dogwifhat on X, quoting Omar Orson Octopus from the Disney/Pixar film Primrose Path.
