This week, the crypto asset dogwifhat (WIF), a meme coin, ascended to the third-highest valuation among all meme tokens. In the last day, WIF appreciated by 17% against the U.S. dollar and saw a 435% increase over the past 30 days.
Dogwifhat Rises to Become the Third-Largest Meme Coin by Market Valuation
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WIF Surpasses Major Competitors, Securing Third Spot Among Meme Coins
In the recent week, dogwifhat (WIF) achieved a notable 90% rise against the dollar. It now ranks as the third-largest meme coin by market cap and holds the 31st spot across the entire cryptocurrency market. Positioned below dogecoin (DOGE) and shiba inu ( SHIB), it surpasses pepe ( PEPE), floki (FLOKI), and bonk (BONK) in valuation.
Priced at $4.31 to $4.34 per unit, it is merely 6% shy of its all-time high, recorded around 5 a.m. Eastern Time on March 30. As of Saturday, WIF’s market capitalization is approximately $4.33 billion, with a circulating supply of 998,926,392 WIF. Binance possesses the largest share, holding 14.2648% of the supply or 142.49 million WIF.
Currently, about 108,570 unique addresses are holders of WIF, with the top ten holders owning roughly 312 million WIF or 31.24% of the total supply. While a majority of WIF’s trading volume is against tether ( USDT), its second most traded pair is with the Turkish lira, followed by USD, BTC, and FDUSD, making up the top five trading pairs by volume.
The ascent of dogwifhat (WIF) occurs amidst a significant uptick in demand for meme coin assets and with DOGE crossing the $0.20 mark for the first time since 2021. Besides BTC and the leading stablecoins, WIF boasts the fourth-largest global trading volume over the weekend. Significant activity from large holders has also been observed, as they accumulate millions of WIF.
What do you think about the meme token WIF’s rise? Share your thoughts and opinions about this subject in the comments section below.
