WIF Price Pumps 62% While Investors Flock to New Dogecoin Alternative with $2.8 Million Funding
Popular Solana meme coin DogWifHat ($WIF) has added a staggering 62.7% to its price over the last seven days to trade at a current price of $1.78. Its price has remained virtually unchanged in the last 24 hours.
That means this week DogWifHat is far outpacing cryptocurrency market leader, Bitcoin ($BTC). Over the same period, Bitcoin added 16% over the week but added shed 1.4% overnight to trade at $59,714 as of this writing.
It looks like the market is recovering well after Monday’s market-wide crash, many are wondering if a low-utility meme coin like DogWifHat will continue to have an edge in the market.
This week, WIF is the best-performing meme coin among the top seven by market cap and the best-performing among the Big Five doge-themed coins.
Holders of the original meme coin Dogecoin ($DOGE) lagged behind with seven-day gains of 29.5%.
Dogecoin’s number one contender, the privacy-focused Shiba Inu ($SHIB), a meme coin which has its own Ethereum layer-2, Shibarium, added 25% over the period.
Pepe ($PEPE), the leading non-doge meme coin, rose 36% over the week, while Bonk ($BONK) and Floki ($FLOKI) both rose around 26%
Meanwhile, in the wider market, Ethereum ($ETH), the most commercially important cryptocurrency, outpaced Bitcoin with a 20% intraweek rise. The $SOL coin underlying DogWifHat’s home chain actually beat many meme coins this week with a 34% price rise.
According to DogWifHat’s price chart, the recent market crash almost sent the price of WIF down to a dollar before the coin began a sprightly rebound. It’s still far away from challenging its recent resistance level of $2.90, but with a relative strength index ($RSI) of 62, the token is priced in well right now, although if the heavy buying continues, it could
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