The newly launched Dog-themed cryptocurrency, Dogwifhat (WIF), soared over 50% today after debuting on Binance.
According to data from CoinMarketCap, Dogwifhat initially faced a 17% dip mirroring the recent sell-off in Bitcoin. However, the coin staged a remarkable comeback, defying the broader market trend and reaching a new all-time high of $2.16.
This impressive surge comes just three months after its launch, propelling Dogwifhat’s market capitalization to a staggering $2.1 billion. Currently trading at $2.09, Dogwifhat has witnessed a remarkable 1,245% surge year-to-date.
Meanwhile, established meme coins like Pepe and Dogecoin experienced modest gains and losses, with Pepe rising 7% and Dogecoin, Bonk, and Shiba Inu facing approximately 10% losses.
Despite Pepe and Bonk nearing their all-time highs, Doge and Shiba Inu lag behind, remaining about 50% below their peak values from April and October 2021.
While the overall meme coin market dipped slightly, the GM 30 Index, reflecting the top 30 cryptocurrencies, saw a marginal 0.03% increase. Bitcoin, hitting a new all-time high above $69,000 yesterday, currently trades at $66,952.
The crypto landscape continues to witness dynamic shifts, with Dogwifhat’s meteoric rise making headlines in the ever-evolving world of digital assets.
Also Read: Meme Altcoins Tumble as Bitcoin Slides from All-Time High
