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Dog-themed meme coin Dogwifhat (WIF) has soared 4% over the past day after being quietly listed on Robinhood’s European crypto trading platform.
Solana-based WIF has been the top performer in CoinGecko’s oddly specific “dog-themed coins” category over the past week, posting a massive 224.5% gain over the past seven days.
This is part of a surge in Dogecoin over the past week, with pack leader Dogecoin up 46.4%, Shiba Inu 38.4%, and Dogwifat’s Solana kennel mate Bonk up an astounding 95.3%. showed.
Meme coins had a strong week overall, with frog-themed PEPE up 154.3%, chicken-themed Coq Inu up 50%, and Trump-themed MAGA token up 85.1% in the past seven days. .
They outperformed the market leader Bitcoin (up 21.9% in the past week) Ethereum (up 16.7% over the same period) amid a broader rise in the cryptocurrency market, with the global market capitalization of all cryptocurrencies jumping to $2.42 trillion.
Meanwhile, Solana’s SOL token, the blockchain network on which Dogwifhat and BONK are built, is up 4.9% in the past day and 31.8% this week.
Dogwifhat, meme coins, and the broader crypto market
Bitcoin’s price has soared above $60,000, reaching levels not seen since 2021, amid growing institutional investor interest in Bitcoin. This comes on the heels of multiple spot Bitcoin ETFs being launched in the US, and amid heightened anticipation for the upcoming Bitcoin block reward halving event in April.
Meme coins are cryptographic tokens inspired by memes and current events that typically have higher volatility than utility tokens or established cryptocurrencies such as Bitcoin.
Some meme coins have demonstrated staying power. Dogecoin was originally created as a joke in 2013, but it has become one of the top 10 cryptocurrencies by market capitalization. However, many meme coins burn out quickly as a result of low liquidity, extractive tokenomics, and cultural trends moving at the speed of social media.
Edited by Stacey Elliott.
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