Dogwifhat (WIF) Meme Coin Overtakes Dogecoin (DOGE) and Shiba Inu (SHIB) in Daily Trading Volume

Early in July, Dogwifhat (WIF), a meme coin based on Solana, overtook well-known competitors like Dogecoin (DOGE) and Shiba Inu (SHIB).

A meme coin on the Solana network called Dogwifhat (WIF) has overtaken well-known rivals like Dogecoin (DOGE) and Shiba Inu (SHIB) in terms of daily trading volume, according to data from CoinMarketCap.

WIF has established itself in the market with impressive trading volumes, as evidenced by the data. Over the last 24 hours, the coin has seen trading activity of about $600 million. This remarkable sum places WIF ahead of Pepe (PEPE), which had trading volume of $518 million and came in second place.

Even Dogecoin (DOGE), the undisputed market leader among meme coins, had trading volume of $424 million, placing it third behind WIF.

Recent Performance of WIF

Dogwifhat's strong rebound following the severe sell-off of last month suggests that many investors still perceive bullish potential in the coin. CoinMarketCap data indicates that the price of WIF at the time of writing is around $2.30, reflecting an increase of 16.96% over the last 24 hours.

Trading volume for Shiba Inu (SHIB) was only sixth at $172 million, despite having the second-largest market capitalization at $10.2 billion. Bonk (BONK) and Floki Inu (Floki Inu) both outperformed SHIB with trading volumes of $208 million and $191 million, respectively.

The data reveals a greater interest among traders in lesser-known meme coins than in the market leaders at the moment. This trend is clearly being followed by newer cryptocurrencies like Dogwifhat and BONK.

Predictions from Analysts

A prior CNF report included analysis that predicted Dogwifhat (WIF) might reach and beyond $2.5 given its strong early July results. This forecast appears to be supported by WIF's present bullish trend.

Additionally, Dogwifhat (WIF) is the second-best performing cryptocurrency asset in the world, trailing only Ethereum Name Service (ENS).

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