TL;DR
- The cryptocurrency hit a new all-time high, briefly becoming the fifth biggest meme coin.
- The niche has been thriving, with significant performances from Pepe Coin (PEPE), Floki Inu (FLOKI), and others.
The Solana-based meme coin – Dogwifhat (WIF) – seems to have no limitations, with its price hitting a fresh all-time high of around $0.66 today (February 28). Its new peak follows a highly successful month during which the asset’s valuation exploded by over 100%.
A few hours ago, the token’s market capitalization surged above $650 million, briefly making it the fifth biggest meme coin. However, it later slightly retraced, with CorgiAI (CORGIAI) reclaiming its position.
WIF’s latest upswing coincides with a massive green wave spreading across the entire cryptocurrency market. Bitcoin (BTC) recently crossed the $57K mark, whereas Ethereum (ETH) tapped a 23-month high of over $3,200.
The meme coin sector has also been thriving. Some of the top performers include Pepe Coin (PEPE) and Floki Inu (FLOKI), which witnessed double-digit gains on a daily scale.
The latter’s price literally went vertical on February 27 when the Web3 investment firm DFW Labs announced it would purchase $10 million worth of FLOKI tokens to support the project’s ecosystem and aid its further development.
Other Solana meme coins, including Bonk Inu (BONK) and Myro, have also performed quite well, albeit recording more modest increases than WIF.
Those willing to dive deeper into the meme coin niche and explore the different tokens, their specifics, purposes, and risks, feel free to take a look at our dedicated video below:
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