One of the most surprising newcomers of this year has remained dominant, as Dogwifhat (WIF) has continued its 40% rally, nearing a return to its all-time high mark. Indeed, the Solana-based meme coin reached $3.79 after a 2.7% surge in the last 24 hours, according to CoinMarketCap.
Moreover, the asset has seen its trading volume surge by as much as 39% over the last day. Although it has decreased some in recent hours, it still stands above $1.3 million, with the asset continuing to surge. Now, all eyes are on the previous record mark of $4.85 for WIF, and whether it could be poised to surpass that.
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Dogwifhat (WIF) Continues to Surge as Volume Skyrockets
Just five months into the year, meme coins have remained a massive story in the digital asset sector. Throughout 2024, which included landmark Spot Bitcoin and Ethereum ETFs, these tokens have emerged as a consistent storyline for investors to observe.
In March, Solana saw a plethora of newcomers increase competition among the digital asset subsect. Among those was Dogwifhat (WIF) which has continued its recent 40% monthly surge to eye an all-time high mark. Indeed, the asset is steadily closing in on the $4.85 record that could be in danger soon.
Also Read: WIF: Whale Nets A Profit Of $161K While Trading DogWifHat Tokens
The most optimistic aspect of the asset’s surge is the volume increase that has occurred. Specifically, it points to an increase in overall trading activity, which shows more investors are taking part in the asset’s performance. Ultimately, this could point to future increases and a bullish sentiment emerging.
The meme coin sector has enjoyed a plethora of gains, with market leader Dogecoin (DOGE) also facing notable price increases. However, it will be interesting to see how the Solana-based option continues to compete.
With Ethereum receiving its Spot ETF approval, all eyes were on the network. If Solana can regain the meme coin dominance it enjoyed earlier this year, the entire industry may bear witness to an interesting April.