Solana based Dogwifhat (WIF) has taken the crypto market by storm, becoming the best performing asset in the first half of the year, as the Shiba Inu puppy-inspired token outperformed Bitcoin (BTC) is up 48% since January, giving it the highest return among about 70 coins with a market cap of over $1 billion.
Dogwifhat (WIF) leads the pack
According to According to Forbes, Dogwifhat has emerged as the leading performer among the group of coins, with a market cap of over $1 billion, recording gains of 1,300% from its low of $0.111 since December 2023.
Next in line is Pepe (PEPE), which has gained nearly 800%. Meanwhile, another company Meme Coin Among the dogs that saw a significant increase in sales was Floki Inu (FLOKI), named after Elon Musk’s Shiba Inu, which saw a 418% increase over the same period. Similarly, Shiba Inu (SHIB) saw a 67% increase.
While meme coins dominate the spotlight, the report notes that several tokens outside the meme coin space have also shown notable gains, outperforming Bitcoin.
ETH, Token Ethereum The cryptocurrency Ethereum has surged 51% and is poised for potential gains after the expected full approval of the spot Ethereum ETF market, similar to Bitcoin, which is expected to go live in the coming weeks.
Binance Coin (BNB), issued by the world’s largest cryptocurrency exchange by trading volume, has surged 81%, outperforming BTC’s price action despite recent regulatory and legal challenges faced by billionaire former CEO Changpeng Zhao (CZ), who is currently serving a 6-month prison sentence following a plea deal with US authorities in 2023.
Meme Queen Bonanza
While WIF has become the star performer with a 1,306% increase, its market cap has also made a notable recovery in recent months after losing its all-time high of nearly $4 billion to currently stand at a market cap of $2.1 billion, securing Dogwifhat the 54th spot in the top 100 cryptocurrencies on the market.
Baby also follows WIF in this key. financial scaleThe market cap of Dogecoin (DOGE) and SHIB has reached $5 billion. However, the two coins are far behind the market cap figures of Dogecoin (DOGE) and SHIB, which are currently at $17 billion and $10 billion respectively, and are the largest meme coins in the cryptocurrency market.
Other coins, such as Artificial Superintelligence Alliance, also outperformed the largest cryptocurrency on the market, rising 545% to a market cap of $3.6 billion over the same period, while Floki saw a 392% growth to a market cap of $1.6 billion after the recent market slump since its March and April highs.
At the time of writing, WIF continues to rise and is trading at $1,899, up over 14% in the last 24 hours. However, the meme coin is trading 60% below its all-time high of $4.83, which was recorded in March 2024.
Featured image by DALL-E, chart by TradingView.com