Solana-based memecoin dogwifhat has reached an all-time high for the second time today, surging over 250% in the last week.
Dogwifhat (WIF) has been one of the largest gainers in the meme coin market this week. The token was launched three months ago in December and started trading at $0.0045. However, the latest market rally saw dogwifhat reach $1 today, then further spiked towards $1.13.
WIF’s rally is attributed mainly to the ongoing bull market, especially in the memecoin sector. The crypto market cap has increased by 2.6% today, while the memecoin market grew by 21% and reached $37.8 billion. Earlier today, dogwifhat was listed by Robinhood, which saw its trading volume jump over 50%.
Whale movements have also contributed to WIF’s intense price hike. Lookonchain said a Solana whale bought $1.34 million worth of WIF tokens shortly after the Robinhood listing.
Dogwifhat currently has a market cap of over $1.1 billion, and earlier this week, it climbed over FLOKI and CorgiAi to become the fifth-largest meme coin in the market.
