- Solana token WIF has overtaken Pepe as the third most valuable meme coin.
- WIF outranked PEPE following a rally exceeding 20% within the last 24 hours.
- WIF is still significantly behind Shiba Inu, with a $15 billion gap between them.
In a remarkable turn of events, the fastest-growing Solana-based memecoin, Dogwifhat (WIF), has knocked out the more prominent meme token, PEPE, to rank as the third most valuable meme.
According to data from market tracking resources, WIF now commands a market cap of $3.7 billion. This puts it in third place, leading PEPE by some $500 million.
The Solana meme coin outranked PEPE following an explosive rally exceeding 20% within the last 24 hours. The double percentage surge contrasts the trajectory observed for more prominent meme coins, which recorded gains below 10%.
In particular, PEPE witnessed barely a 3% gain over the past day, while WIF recorded over 20%. Moreover, WIF has a cumulative seven-day performance of 55% growth, contrasting PEPE’s negative 2% gain. Besides, WIF’s 30-day trajectory of 360% gain is more than double the 147% gain observable with PEPE.
Top Meme Coins | CoinMarketCap
After outranking PEPE, WIF now sits right behind the defending champions of the meme coin landscape, Dogecoin and Shiba Inu. However, Shiba Inu leads WIF with a staggering $15 billion gap. This suggests that the Solana meme coin must expand by at least 500% to come close to outranking Shiba Inu, assuming that SHIB remains stagnant at its $18 billion cap, which is improbable.
Notably, WIF has been one of this cycle’s most outstanding meme coins. CoinMarketCap data indicated that the Solana meme is up by 2035% to $3.7 since last December when it traded at $0.1742.
Through the same period, Dogecoin, Shiba Inu, and PEPE have witnessed less comparable gains of between 130% and 500%. Other Solana meme coins dominating the meme coin landscape include BONK and Book of Meme (BOME).
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