Dogwifhat Outpacing Meme Coin Rivals Bonk, Pepe and Dogecoin With 20% Gains

Ever-ascendant Solana token Dogwifhat (WIF) led a rally for meme coins on Tuesday, rising more than 20% overnight as the rest of the crypto market remained largely stagnant.

Within hours, the WIF price—the meme coin of the moment—rose as high as $3.27 early Tuesday morning, before settling to $3.18 at writing. The Shiba Inu-themed token has risen 20% in the last 24 hours.

Tuesday’s gains have once again pushed Dogwifhat to a market capitalization north of $3 billion—$3.168 billion, to be precise. That’s a remarkable accomplishment for a meme coin that launched mere months ago, with little more to offer than the sight of a puppy sporting a knit beanie.

WIF wasn’t the only Solana-based, Shiba Inu-themed token to outpace the crypto market on Tuesday. BONK, which exploded in popularity in December, saw impressive gains of more than 13% during the night.

The token is up 13% in the last 24 hours (to a price that still remains a fraction of a fraction of a cent). That action brings BONK’s market capitalization to roughly $1.734 billion.

Only weeks ago, WIF flipped BONK’s market cap for the first time ever. Now, it would appear that the trend is solidifying.

Over on Ethereum, prominent meme coins also had an especially good morning. Cult-favorite Pepecoin (PEPE) popped over 10% on Tuesday, before settling into a 24-gain of 6.5% by writing.

The godfather of all meme coins, Dogecoin (DOGE), also saw a solid—if fairly unspectacular—showing early Tuesday. The token is up 4.5% today, to just north of $0.18 at writing. In the last week, DOGE has seen a remarkable bump of over 37%.

It would seem DOGE has gotten a boost from the Dogefather himself. Just yesterday a xAI Grok user posted a screenshot showing the response to their query, “Can I send or receive DOGE on X?” Grok said yes and then proceeded to walk the users through steps that involve a not-yet-released “X Wallet” that would first need to have DOGE in it.

FULFILL THE PROPHECY #DOGE pic.twitter.com/J3fweq2hKH

— Crypto Thies (@kingthies) March 25, 2024

Edited by Stacy Elliott.

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