According to U.Today, Dogwifhat (WIF), the first meme sensation in the crypto market and the largest meme token on Solana, has been making headlines due to its extraordinary price action. The meme cryptocurrency, which features a Shiba Inu puppy in a knit cap, has seen its price skyrocket by over 25% in less than two days since the start of the week. Consequently, the price of the Dogwifhat token has reached $3.75, only 30% below its all-time high of $4.88. Given the rapid rate at which WIF's price can increase, it appears that a new all-time high for this meme cryptocurrency is imminent.
In its impressive price growth, Dogwifhat has surpassed fundamentally significant crypto projects like Arbitrum (ARB) and Cosmos (ATOM) in terms of capitalization, making it one of the top 30 largest cryptocurrencies. Currently, WIF's capitalization stands at $3.72 billion, a remarkable feat for an asset that is just over six months old. It now ranks as the fourth largest meme cryptocurrency, trailing behind Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe Coin (PEPE). It remains to be seen whether the top Solana meme token can surpass its dog and frog competitors in the race to become the top meme cryptocurrency.