Overview of Crypto Market Trends:
WIF, the native token of Solana meme coin Dogwifhat, has seen a 19% surge, making it one of the top gainers in the cryptocurrency market today. The token is currently trading at $2.31, up 19% in the last 24 hours with a trading volume of $432 million. Despite this increase, WIF is still trading 55% below its all-time high.
Solana ETF Filing Impact:
The recent surge in WIF can be attributed to VanEck’s filing for the first-ever Solana exchange-traded fund (ETF) in the U.S. This move has sparked renewed interest in Solana-based meme coins, anticipating a potential price surge with the approval of the Solana ETF. Market analysts predict a target price of $4.5 for WIF following this development.
Meme Coin Market Performance:
WIF’s price jump is part of a broader trend in the meme coin market, which has seen a 4.3% increase, reaching a total valuation of $49.2 billion in the last 24 hours. Alongside WIF, other meme coins such as Pepecoin (PEPECOIN), Bonk (BONK), and Brett (BRETT) have also recorded notable gains, further contributing to the overall growth of the crypto market.
