Dogwifhat (WIF) outperforms Dogecoin (DOGE) and Shiba Inu (SHIB)

07/02/2024

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The meme coin newcomer on the Solana platform, dogwifhat (WIF), has eclipsed both Dogecoin (DOGE) and Shiba Inu (SHIB) in terms of 24-hour trading volume, as per the latest figures from CoinGecko.

In the last day alone, WIF has achieved a trading volume close to $600 million.

Trailing behind is the notable meme cryptocurrency Pepe (PEPE), which has seen $518 million in trades during the same timeframe.

In a surprising twist, DOGE, the original heavyweight of the meme coin scene, ranks third with a trading volume of $424 million.

Meanwhile, Shiba Inu, ranking as the second-largest meme coin by market capitalization at $10.2 billion, has landed in sixth place with its trading activity at about $172 million. This puts it behind the likes of Bonk (BONK) and Floki Inu (Floki Inu), which have notched $208 million and $191 million in trading volumes, respectively.

This data suggests a growing fascination among investors for newer entrants in the meme coin arena over the established giants.

The meme coin category is currently basking in positivity, with several key players, including WIF and Bonk, experiencing significant upticks in their price points.

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