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- The Solana-based meme coin dogwifhat (WIF) has recently eclipsed both Dogecoin (DOGE) and Shiba Inu (SHIB) in daily trading volume, according to recent data by CoinGecko.
- WIF’s trading volume reached an impressive $600 million in the last 24 hours.
- In comparison, the new contender Pepe (PEPE) recorded a trading volume of $518 million, taking the second place.
Discover the latest developments in the meme coin market as WIF outperforms DOGE and SHIB in trading volume, driving renewed interest and significant price movements.
Dogwifhat (WIF) Surpasses Leading Meme Coins
The dogwifhat (WIF) meme coin, built on the Solana blockchain, has surged past notable meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) in daily trading volume. According to CoinGecko, WIF achieved an outstanding $600 million in trading volume over the past day, making it the most actively traded meme coin within that period.
Comparison with Other Trending Meme Coins
In the same 24-hour timeframe, Pepe (PEPE) came in second with a substantial $518 million trading volume. Meanwhile, Dogecoin (DOGE), traditionally a leader in the meme coin sector, secured the third position with $424 million in trading volume. Shiba Inu (SHIB), another heavy hitter with a market cap of $10.2 billion, only managed to rank sixth, recording $172 million in trading volume.
The Meme Coin Revival: New Trends in the Sector
The meme coin sector is experiencing a resurgence, with several coins reporting double-digit gains. While WIF and Bonk led this charge, even less established coins such as Floki Inu and PeiPei have shown significant trading activity. Notably, Bonk reported $208 million and Floki Inu registered $191 million in trading volume, underscoring a growing interest in emerging meme coins over established ones.
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Analysis from Financial Experts
Murad Mahmudov, a noted financial analyst, hinted that WIF might be forming a large descending wedge on higher time frames, potentially signifying future upward momentum. As for the newer entrant, PeiPei, it has seen a 37% increase in trading volume, reflecting growing market confidence.
Conclusion
The trading volume data indicates a shifting landscape in the meme coin sector, as traders are beginning to favor less established meme coins like WIF and PeiPei over traditional leaders like DOGE and SHIB. With the sector gaining renewed interest and substantial trading activity, it will be intriguing to observe how these trends evolve and which meme coins emerge as the new top dogs.
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