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This Memecoin Climbs to Third Spot in Memecoin Market Cap Rankings, Overtaking PEPE

1 min
Updated by Ryan Boltman
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In Brief

  • Solana's meme coin season continues as dogwifhat (WIF) reaches a $4 billion market capitalization.
  • Surpassing PEPE, WIF claims the third spot in memecoin rankings, trailing only Shiba Inu and Dogecoin.
  • WIF, launched in November 2023, has experienced significant growth, benefiting from Solana's popularity due to lower gas fees compared to Ethereum.
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The Solana meme coin season persists as dogwifhat (WIF) witnesses its market capitalization reach $4 billion on Friday.

WIF touched $4 on Friday morning, a new all-time high from Solana’s latest dog-themed memecoin.

Dogwifhat Climbs to Third Spot in Memecoin Market Cap Rankings

During the recent price surge, WIF surpassed PEPE to claim third in the rankings. Solana’s inaugural dog-themed meme coin now finds itself behind WIF. Currently, BONK holds a market capitalization that is almost half the size of WIF.

Memecoin Rankings.
Memecoin Rankings. Source: CoinGecko

Having launched in November 2023 at a measly price of $0.0000021, WIF has seen a meteoric rise within the crypto sector, climbing as high as 40 in the total market cap rankings.

dogwifhat Price Chart
dogwifhat Price Chart. Source: Dexscreener

Solana memecoins continue to see a rise in popularity. The increased interest in trading Solana-based tokens comes off the back of cheaper gas fees. Something Ethereum has yet to overcome. Solana’s Total Value Locked (TVL) recently broke $4 billion and currently sits at $4.5 billion as interest continues to increase.

Read More: Dogwifhat (WIF) Price Prediction 2024/2025/2030

The recent listing by tier 1 exchanges such as Binance and KuCoin has only added credibility to the project, which describes itself on its website as “LITERALLY JUST A DOG WIF A HAT.”

While WIF remains the top memecoin on Solana, Shiba Inu (SHIB) and Dogecoin (DOGE) remain the top dogs, with market caps 3x and 5x that of WIF. Safe to say no one will be catching the top two anytime soon.

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Ryan Boltman
Ryan Boltman is a managing editor at BeInCrypto, specializing in the crypto markets with a strong focus on technical and on-chain analysis across a broad spectrum of digital assets. His areas of expertise include Layer-1 and Layer-2 solutions, artificial intelligence (AI), real-world assets (RWA), decentralized finance (DeFi), decentralized physical infrastructure networks (DePIN), meme coins, and altcoins. Before his current role, Ryan contributed to Blockchain.com as a customer success...
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