Solana’s “Shiba Inu killer” Dogwifhat gained 32% in the past 24 hours off the back of a Bitcoin rally of 5.5%.
What Happened: Based on Coingecko data, the top dog-themed coins by market cap surged 5% to a combined market cap of $20.9 billion in the past 24 hours. Dogwifhat topped the charts with its 32% rally to $0.45.
While in mid-February, the memecoin ranked fifth among dog-themed memecoins by market cap, it currently holds the fourth position behind Dogecoin , Shiba Inu and Bonk .
Launched in 2023, Dogwifhat is inspired by a Shiba Inu dog wearing a pink hat.
Why It Matters: Analysts see a continuation of the bullish rally ahead.
“Degen & Angel Investor” DeFi.Pope indicated in his recent post that WIF now boasts 50,000 holders.
Crypto trader, TheFlowHorse tweeted:
There are some mega obvious setups across the board.
Few are as clear as $WIF right here.
This base is setting up a much larger leg higher again. pic.twitter.com/UjDwAsxi4m
Another X user stated, “even the htf trend has flipped bullish. this dog is going to 1 and then 10.”
The wider market rally is reflected in memecoins gaining in price with Pepe attracting significant attention from analysts and traders.
Read Next: Dogwifhat On Fire With 125% Gains After ByBit Listing: ‘WIF Is The Next BONK’ Says Analyst
Photo: Shutterstock
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