Dogwifhat becomes the third largest meme coin

WIF touched the $4 mark early Friday before pulling back as the meme coin sector showed the most volatility in a flat market.

Meme coins, led by Solana-based Dogwifhat, rose for a second day to lead as a category, while the broader market remains largely unchanged ahead of the long weekend in the US, Europe and parts of Asia.

CoinGecko data shows that the meme coin category rose 8% on average, outperforming more serious niches like decentralized finance, yield farms, and exchange tokens.

Meme tokens went live early Thursday amid speculation about DOGE being used in an upcoming payment service from social app X, although there has been no official communication from the company.

Dog-themed tokens like Floki (FLOKI) and WIF jumped as a beta bet on dogecoin. WIF invested Pepecoin (PEPE) to become the third-largest meme token by market capitalization, surpassing the $4 mark on Thursday.

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