dogwifhat (WIF) Sets ATH After Binance Listing

The Solana-based memecoin, dogwifhat, continues to heat up following its recent listings on Robinhood EU and Binance.

dogwifhat (WIF) Sets ATH After Binance Listing. Image: Crypto Briefing

Over the past 24 hours, dogwifhat (WIF) has emerged as the standout memecoin, outshining even the market-leading memecoins like Pepe (PEPE) and Shiba Inu (SHIB).

The canine-themed meme coin from the Solana ecosystem surged more than 50% to set a new all-time high yesterday, shortly after its listing on Binance at 9:00 PM on March 5th.

Amidst Bitcoin's sell-off right after reclaiming its ATH at $69,000, dogwifhat initially dropped sharply by 17% from around $1.35 to a low of $1.12 in response to overall market behavior. However, WIF then staged an impressive turnaround, reversing course to establish a new ATH at $2.29.

Currently, dogwifhat is trading at $1.84, marking a 15% increase over the past 24 hours, a staggering 123% increase over the week, and an incredible 1,245% surge since the beginning of the year.

Chart: 1-hour WIFUSDT pair on Binance at 9:05 AM on March 7, 2024

dogwifhat draws its inspiration from another memecoin, Dogecoin, but with a more whimsical hat. Despite being launched only in November 2023, its market cap has soared to over $2.1 billion at its peak.

Meanwhile, Pepe (PEPE) has seen a modest 7% increase from the previous day, while Dogecoin, Bonk, and Shiba Inu have each experienced slight declines of about 10%.

Some prominent memecoins in the field. Source: CoinGecko

While Pepe and Bonk have shown impressive performances and closely approached their all-time highs, older faces like Dogecoin and Shiba Inu still lag significantly behind the record highs they set in April and October 2021.

Compared to last week, when memecoins led the market, the total market capitalization of the entire meme coin sector has decreased by more than 2% in the past 24 hours, according to CoinGecko.