TL;DR

• The cryptocurrency hit a brand new all-time excessive, briefly turning into the fifth largest meme coin.
• The area of interest has been thriving, with vital performances from Pepe Coin (PEPE), Floki Inu (FLOKI), and others.

The Solana-based meme coin – Dogwifhat (WIF) – appears to haven’t any limitations, with its worth hitting a recent all-time excessive of round $0.66 in the present day (February 28). Its new peak follows a extremely profitable month throughout which the asset’s valuation exploded by over 100%.

Just a few hours in the past, the token’s market capitalization surged above $650 million, briefly making it the fifth largest meme coin. Nonetheless, it later barely retraced, with CorgiAI (CORGIAI) reclaiming its place.

WIF’s newest upswing coincides with a large inexperienced wave spreading throughout the complete cryptocurrency market. Bitcoin (BTC) lately crossed the $57K mark, whereas Ethereum (ETH) tapped a 23-month excessive of over $3,200.

The meme coin sector has additionally been thriving. A number of the high performers embody Pepe Coin (PEPE) and Floki Inu (FLOKI), which witnessed double-digit positive aspects on a day by day scale.

The latter’s worth actually went vertical on February 27 when the Web3 funding agency DFW Labs introduced it will buy $10 million value of FLOKI tokens to help the venture’s ecosystem and assist its additional improvement.

Different Solana meme cash, together with Bonk Inu (BONK) and Myro, have additionally carried out fairly effectively, albeit recording extra modest will increase than WIF.

These prepared to dive deeper into the meme coin area of interest and discover the completely different tokens, their specifics, functions, and dangers, be happy to check out our devoted video beneath: