As a seasoned crypto investor with a keen interest in meme coins and the Solana ecosystem, I’ve witnessed firsthand the extraordinary surge of Dogwifhat (WIF) over the past few days. With its price soaring by over 27%, it has left other competitors, like EGLD, in the dust. The excitement around WIF is palpable, and the gains are not limited to just this meme coin.
As a crypto investor in the Solana ecosystem, I’ve noticed an impressive surge in the price of Dogwifhat (WIF), the most popular meme coin built on this blockchain. In just a short period, WIF’s value has skyrocketed by more than 27%, leaving its closest competitor, EGLD, trailing behind with only a 17% increase. Furthermore, even smaller Solana meme coins have shown remarkable gains during this upswing.
Dogwifhat (WIF) undisputed: Meme crypto blasts past $2 billion cap
In the wake of crypto markets bouncing back following the previous day’s significant decline, meme coins spearhead the rebound. Dogecoin’s (WIF) price has soared past the pivotal $2 threshold and is on the brink of overtaking Arbitrum (ARB) in market capitalization after experiencing a 27% surge, according to CoinGecko’s latest data.
At the time of publication, the total market capitalization of the WIF cryptocurrency sector had reached $2.018 billion. In comparison, Arbitrum (ARB) currently boasts a market cap of $2.039 billion and is also experiencing significant growth.
As a researcher examining the current trends in the crypto market, I’ve noticed that other notable meme coins have shown similar levels of growth. For instance, Shiba Inu (SHIB) has experienced a surge of 14%, propelling it back into the ranks of the top 15 cryptocurrencies by market capitalization.
Bonk (BONK) and Based Brett (BRETT) also made it to the top 10 fastest growing cryptocurrencies with 13% and 11% respective upsurges.
In simpler terms, the total value of all cryptocurrencies has increased by 6% today, and Bitcoin (BTC) and Ethereum (ETH) each contributed around 3% to their respective market worths.
POPCAT, BILLY enormous rallies push Solana (SOL) meme coin segment higher
Those attempting to bet against the cryptocurrency market during its current price rebound are facing harsh consequences. According to CoinGlass, approximately 75% of the $184 million in liquidations that occurred within the past 24 hours stemmed from short positions.
In terms of segment performance over the past day, Solana meme coins have taken the lead. This impressive result can be credited not only to the recent surge of the WIF rally but also to the captivating movements among low-cap coins.
As a financial analyst, I would put it this way: “I noticed that POPCAT (Previously known as Popcat), the Solana-based cat coin, experienced a significant surge of 27%. Consequently, it surpassed Cat in Dogs World (MEW) to claim the title of the largest Solana cat token in my current analysis.”
The underappreciated meme cryptocurrency Billy (BILLY) is poised to join the ranks of the top 250 cryptocurrencies by market capitalization following a remarkable surge of 70%. With just three posts on its Reddit account identified by the X tag, this digital asset has been making waves.
In total, the Solana meme coin segment added 11% overnight, data says.
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2024-07-06 15:39