The cryptocurrency market is witnessing an increase in the value of meme coins Dogwifat WIF/USD, Floki FLOKI/USDAND Good BONK/USD achieving significant gains.
What happened: Dogwifhat was trading at $3.97 on Thursday, marking a 29.74% increase in the past 24 hours. According to data from Benzinga Pro, Bonk traded at $0.00002839, up 10.48%, while Floki settled at $0.0002492, up 13.26%.
These meme coins, based on dog themes, have followed a notable upward trajectory. Dogwifhat, for example, started the year under $0.07 and has since skyrocketed to over $3.53, representing a gain of over 5,000% in just two months. This surge has seen its market capitalization grow from around $200 million to well over $3 billion, securing its place among the top 50 tokens by market capitalization.
See Also: Trader Turns $3,000 Into $215,000 In Hours With Newly Launched Dawkoin As ‘Father Of MEMEs’ MEME-Based Crypto Market Cap Skyrockets To $15 Million
As the year progresses, it remains to be seen how Dogwifhat will fare. Her future is likely to be influenced by ever-changing market sentiment.
Because matter: The recent rise in meme coins is indicative of continued interest and investment in the cryptocurrency market. This wave comes at a time when other meme coins like them Dogemoneta DOGE/USD AND Shiba Inu SHIB/USD are experiencing significant gains.
Despite the volatility of meme coins, they continue to attract investors and traders, some of whom expect substantial returns. For example, the popular cryptocurrency trader Mayne recently suggested that a $100,000 investment in Dogwifhat could potentially yield $1 million. This further highlights the growing appeal of meme coins in the cryptocurrency market.
Read next: Dogecoin’s GigaWallet to Simplify Platform Transaction Integration: ‘The Start of a Strong Bullish Move,’ Says Trader
Image via Shutterstock
Designed by Benzinga NeuroBy
Kaustubh Bagalkote
The GPT-4-based Benzinga Neuro content generation system leverages Benzinga’s extensive ecosystem, including native data, APIs, and more to create rich, timely stories for you. Learn more.