Based on data from CoinGecko, the meme currency dogwifhat (WIF) from Solana has surpassed Pepe (PEPE) in 24-hour trade volume.
Dogwifhat achieved a new milestone when its trading volume hit $36.6 million, surpassing that of Pepe, the longtime favourite, which recorded a volume of $35.6 million.
Top meme coins by trading volume
Although Dogecoin and Shiba Inu have historically dominated the meme cryptocurrency market in terms of trade volume, things are quickly shifting.
With a 24-hour volume of $657,577,938, Dogecoin continues to hold a commanding lead, followed by Shiba Inu with $130.4 million.
But newcomers like Memecoin (MEME) and Bonk (BONK), with trading volumes of $47.6 million and $51.2 million, respectively, are also creating waves.
Prior to this, Dogwifhat was ranked lower, but trading activity has significantly increased, surpassing Pepe.
More recognition for Wif
The dogwifhat joke coin is becoming more popular on cryptocurrency trading platforms, both in terms of trading volume and notoriety.
A perpetual contract with up to 50x leverage is now available on Binance Futures, increasing the meme coin’s visibility and possible liquidity. Decentralised and centralised exchanges like as Gate.io and Raydium are among the top marketplaces for dogwifhat by trading volume, suggesting that both traditional traders and advocates of decentralised finance (DeFi) are finding it more and more appealing.
A spike in interest in meme currencies rooted in Solana is supporting this growing recognition. A surge in network activity for Solana, and therefore, tokens such as dogwifhat, which experienced a significant increase before levelling down, has been seen based on on-chain measurements.
The meme “wif hat” that has gained popularity in the cryptocurrency world and the related imagery, a dog wearing a hat, are what give the meme coin its value.
