WIF surges 30%, surpasses Dogecoin (DOGE) to become top memecoin
Dogwifhat (WIF) has become the top memecoin, beating Dogecoin in recent market activity. The rise in WIF's value has been closely watched by cryptocurrency enthusiasts and investors, sparking interest in its rapid rise.
WIF has risen 30% in the past week, solidifying its position as a top memecoin. The growth is driven by higher trading volume and investor interest. CoinMarketCap data shows that WIF has a market cap of nearly $1.9 billion and daily trading volume of about $475 million.
A key factor in WIF's recent success is the action of large token holders. Lookonchain data shows that the largest WIF holders increased their holdings. They spent $1.54 million to purchase 800,556 WIF tokens at $1.92 per share, bringing their total holdings to 28 million WIF, worth about $53.23 million.
WIF has shown that it has what it takes to be a top performer in the memecoin market. While Dogecoin remains important, WIF’s recent gains have eclipsed Dogecoin. The only memecoin to outperform WIF during this period is Popcat, which is up more than 70%.
WIF’s growth and market dominance are reflected in its positive funding rate, according to Coinglass. This indicates that traders are optimistic and willing to pay a premium to keep long positions.
