WIF Surpasses PEPE to Become Third Largest Meme Coin by Market Cap After DOGE and SHIB

WIF Surpasses PEPE to Become Third Largest Meme Coin by Market Cap After DOGE and SHIB

Whereas the general cryptocurrency market remains rather proper, meme cash bask in been gaining momentum, with Dogwifhat emerging as a entrance-runner.

The red-hot Solana-basically basically based mostly meme coin has just at the moment reached a contemporary all-time excessive, turning into the third largest meme coin by market cap after Dogecoin and Shiba Inu.

Starting the day at $3.21, the coin skilled sideways shopping and selling till around 9 am ET, after which it witnessed a sudden spike.

Earlier as of late, it reached an all-time excessive of above $4 and is currently shopping and selling at $3.73, up by larger than 20% over the past day.

$WIF has flipped $PEPE, and is now the third largest meme coin by market capitalization. pic.twitter.com/4vg1HnazkZ

— CoinGecko (@coingecko) March 29, 2024

Dogwifhat’s Strongest Day-to-day Efficiency

The contemporary performance marks Dogwifhat’s strongest day-to-day exhibiting since its initiate.

The coin has surpassed the more established meme coin Pepe, securing the 38th self-discipline in the Top 100.

Primarily based totally on information from CoinMarketCap, Dogwifhat has a market cap of $3.7 billion, while Pepe settles in Forty third device with a market cap of $3.32 billion.

It's serious to show that meme cash are extremely volatile and absence great fundamentals.

The vision in the aid of WIF is merely “actually perfect a canines wif a hat.”

As a consequence, they're influenced by random events, such as tweets, unrelated information, and the movements of different cash.

Market sentiment performs a increased role in riding these tokens than any tangible elements.

Diverse meme cash are additionally performing successfully as of late.

Within the general Top 100 of the crypto alternate, the four handiest-performing tokens are meme cash: Dogecoin (+16.83%), Floki (+12.7%), and BONK (+10%).

Open air of the stop 10, PEPE has seen an 2% make bigger and is currently shopping and selling at $0.000007883 per token, while Shiba Inu is up 5.85% to $0.00003179.

A total of 65 out of the 100 most spellbinding meme cash bask in posted good points in the final 24 hours.

Solana Emerges as Most well-most well-liked Blockchain for Meme Coins

Solana (SOL), a blockchain platform identified for its low transaction prices, has emerged as a most widespread venue for getting and selling these cash.

Primarily based totally on information from CoinGecko, the Solana meme coin sector has surged by 13% over the past week and larger than 40% over the past month.

The platform has seen a wave of unusual cash that contains caricatures of public figures love Joe Biden and Donald Trump.

Within the meantime, there used to be a surge in presale scams amid the meme coin season on the Solana blockchain, which continues in tubby pressure.

Unbiased appropriate just at the moment, crypto detective ZachXBT highlighted several presale cash which bask in raised considerations as a result of pretend actions and suspicions of being rug pulls.

One occasion involves X client @Sartoshi0x, who purchased 7,000 SOL as segment of a presale but secretly kept 62% of the funds without distributing the tokens as promised.

The surge in Solana meme coin presale scams comes as these events bask in gathered a staggering $150 million in SOL from handiest 33 presales.

No subject the charm of speedily good points, ZachXBT emphasizes that many of these initiatives, typically promoted by smaller accounts, are both dubious or outright scams.

Source : cryptonews.com