Solana-based memecoin Dogwifhat (WIF) witnessed a 28% worth surge in 24 hours. This sudden enhance introduced its market capitalization to over 2 billion {dollars}. Digwifhat’s retail worth was hovering simply above $2 on the time of this publication, in line with uncooked knowledge from Coinmarketcap.
In response to Coinmarketcap, Dogwifhat’s 24-hour buying and selling quantity at the moment sits at simply over $400 million. The dog-themed memecoin’s $2 billion market cap makes it the chief within the memecoin pack. The venture’s latest worth surge propelled it to the highest, making it the best-performing memecoin venture within the prime 100 cryptocurrency checklist.
Memecoins are proving to be the strongest performers within the #crypto trade throughout this bull run!
📈 $WIF is at the moment main the #memecoin market, at the moment sitting at $2B market cap, many imagine $WIF has the potential to succeed in a $10B market cap. 🔥
Among the many prime 100… pic.twitter.com/zomyQrDVo7
— Fortunate (@LLuciano_BTC) July 6, 2024
The meme coin’s latest metrics have garnered the eye of many crypto lovers globally. Many traders imagine that the Dogwifhat market cap can attain the $10 billion mark, representing a 5X potential from the present worth.
Dogwifhat group raises almost $700,000
The Dogwifhat group raises almost $700,000. Supply: Dogwifhat
WIF is at the moment on an upward trajectory in direction of its all-time excessive worth. Regardless of recording constructive performances, the venture continues to be 60% down from its all-time excessive worth of $4.80, recorded on March thirty first, 2024. On the flip facet, the memecoin has continued to realize rising recognition and has up to now been listed on 222 buying and selling platforms.
WIF’s success up to now is partially attributed to the venture’s lively group members, who’ve participated in numerous advertising actions to lift consciousness concerning the venture. In March, the group members, led by 5 people, organized a crowdfunding program that raised nearly $700,000.
The primary goal of the crowdfunding program was to strike an commercial deal to place the meme coin’s mascot on the Las Vegas Sphere. The preliminary goal for the fundraising program was $650,000.
The group raised $697,915, displaying the group members’ dedication to the venture. Mihir, one of many officers organizing the advertising gig, said that he was “90%” positive that the proposal would pull via and that the memecoin would get the advertising slot on the Las Vegas Sphere. As soon as the commercial deal goes via, the meme coin’s mascot will air on the Las Vegas Sphere for a whole week.
Dogwifhat contributors have been ready since March
Mihir additionally said that officers managing the Sphere had inside conferences to develop new crypto-oriented phrases for Dogwifhat’s proposal. Mihir didn’t give particulars on the continued discussions with Sphere representatives and solely stated that the advertising leads had been nonetheless negotiating to fulfill all the necessities and standards.
Though Mihir is 90% assured that the memecoin will land the commercial slot, some members expressed their discomfort following the delay. Some argued that the lead representatives who deliberate the fundraising didn’t talk effectively how the funds can be used.
Mihir emphasised that if the deal doesn’t pull via, all of the funds will likely be refunded to all those that contributed. As of this publication, WIF has surged by greater than 1,000,000% since November final yr, when it launched.
Cryptopolitan reporting by Collins J. Okoth