đ„Dogwifhat (WIF) has gained 10% in the past 24 hours, peaking at $2.20. The coin's market capitalization has recovered above the $2 billion mark for the first time in seven weeks.
đWIF broke above a key resistance level on September 24 after breaking above $1.96. The price action is showing a strong bullish bias as the memecoin targets the next resistance level at $2.85.
đ„Dogwifhat Leads Memecoin's Bull Run But Investor Growth Slows
đMemecoin's market capitalization is now up 6.8% over the past 24 hours, surpassing $51 billion and recovering to levels before its August slump. Data from CoinGecko shows that Dogwifhat is still the fourth-largest memecoin in the industry.
đWhile native meme tokens like Dogecoin and Shiba Inu still top the market cap, Solana-based memecoins like POPCAT and WIF dominate in terms of returns over the past 30 days, posting 52.9% and 24.2% returns, respectively.
đHowever, despite being one of the best performing memecoins, WIF has not seen a significant increase in the number of new investors in the market.
đThe latest data from holderscan.com shows that only 2,322 new investors, or 1.29%, joined WIF in the past seven days. The total number of investors remains at 182,877, but the top 50 investors account for nearly 54.84% of the supply.
