A new Solana-based meme token, Dogwifhat (WIF), has surpassed Ethereum-based Floki (FLOKI) in market cap, according to CoinGecko. The meme coin is now valued at a whopping $310 million, potentially challenging the likes of Pepe (PEPE).
Performance of the top memecoins Performance over the past 24 hours has been mixed. Dogecoin (DOGE) led the gains with a small gain of 1.7%, while Shiba Inu (SHIB) was not far behind with a 1.4% gain. Despite a small hourly drop, Bonk (BONK) led the gains with a large gain of 8.1%, continuing last week's significant gain of 34.1%. Pepe (PEPE) edged up 0.6%, while CorgiAI (CORGIAI) was slightly down 0.8%.
Outperformer Dogwifhat (WIF) surged an impressive 45.4%, further fueling the speculative frenzy and sending its value soaring 222.0% over the past week.
In contrast, Floki (FLOKI) had a more modest 24-hour move, up 1.5%, while Memecoin (MEME) was up 15.7%, showing strong weekly gains. However, Dogecoin (BABYDOGE) was down 0.5%. #sol #XAI
BONK is gone, but what happens next? After the BONK-driven Solana rally ended, the meme coin market saw a sharp decline, with prices falling as much as 80% from their peak.
However, despite this pullback, there is still discussion about other Solana-based memecoins that could reignite interest in the network. As mentioned above, BONK itself has seen a small gain of 8% over the past 24 hours, and the broader decline has not stopped the growth of the Solana ecosystem. However, other meme tokens may still catalyze another rally as investors continue to search for the next breakout star.
