DogWifhat (COIN: $WIF), a meme coin on the Solana blockchain, surged by 25% in the last 24 hours to reach the $3 mark, becoming the fourth-biggest meme coin by market cap. Its surge has been driven by the strong backing from its passionate community and the larger Solana community.
Recently, the meme coin community has raised a lot of money by running a unique campaign in Las Vegas.
WIF Community Support Drives Record Fundraising Efforts
DogWifHat, a popular meme coin whose mascot is a dog with a pink beanie, has gained investors’ attention during the ongoing crypto market bull cycle. The WIF community has successfully raised $690,000 in USDC stablecoin.
The community achieved this milestone in less than four days, aiming to showcase Dogwifhat on the Sphere in Las Vegas.
Several enthusiasts from the Solana ecosystem supported the fundraising event. The group raised massive donations in the last three days by posting several posts to engage donors via the official social media account of the Solana Phantom Wallet.
WIF Becomes Fourth Largest Meme Coin
The current surge in the price has pushed the WIF market cap to over three billion dollars in the last 24 hours, after a 24.73% increase in price. Since its launch in late November 2023, the price has risen 1,000,000%. These gains mean that it is now the fourth largest meme coin by market cap after Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe(PEPE).
Dogwifhat’s value has surged dramatically in the past week, with an 88% increase and a remarkable 628% rise over the last month, which is in line with a general upward trend in the cryptocurrency market.
SOL has also witnessed a significant gain of 13% to over $170 per coin, fueled by Bitcoin’s rise to $73K and $WIF’s listing on Binance. This has brought massive engagement for the Solana ecosystem and rising interest in crypto from investors. $WIF ranks 42nd on Coinmarketcap by market cap among all cryptocurrencies.
$WIF Price Trend
As of writing, $WIF is trading at $3.28, with a gain of 23.87% in the last 24 hours. It has gained significant attention from investors after the recent campaign by the WIF community in Las Vegas. The current market is $3 billion, with a 24-hour trading volume of $1 billion.
Is $WIF A Buy?
The recent event in Las Vegas was a major success, exceeding its goal of $650K. However, some have noted that such vanity events often occur near the top of the market. Consequently, investors should keep that in mind when looking to invest in WIF. Despite this, DogWifHat has attracted the attention of many investors, and it could have some upside potential in the short term.
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