Dog-themed meme coin Dogwifhat (WIF) has jumped by 4% in the past day, after it was quietly listed on Robinhood’s European crypto trading platform.
The Solana-based WIF is the top performer among CoinGecko’s oddly-specific “dog-themed coins” category over the past week, up a massive 224.5% rise in the last seven days.
It’s part of a canine coin surge over the past week that’s seen pack leader Dogecoin up 46.4%, Shiba Inu gain 38.4% and Dogwifhat’s Solana kennel-mate BONK pick up a staggering 95.3%.
Meme coins in general have had a bumper week, with the frog-themed PEPE up 154.3%, the chicken-themed Coq Inu up 50%, and the Trump-themed MAGA token up 85.1% over the past seven days.
They’ve outpaced market leaders Bitcoin (up 21.9% in the past week) and Ethereum (up 16.7% over the same period) amid a wider crypto market rally that’s seen the global market cap of all cryptocurrencies jump to $2.42 trillion.
Meanwhile, Solana, the blockchain network atop which Dogwifhat and BONK are built, has seen its SOL token 4.9% in the past day and 31.8% over the week.
Dogwifhat, meme coins, and the wider crypto market
Bitcoin’s price has surged past $60,000, reaching levels not seen since 2021, amid growing institutional interest in Bitcoin. It comes on the heels of multiple spot Bitcoin ETFs launching in the U.S., and amid mounting anticipation around the Bitcoin block reward halving event set to take place in April.
Meme coins, crypto tokens inspired by memes and current events, typically have higher volatility than utility tokens and established cryptocurrencies like Bitcoin.
Some meme coins have demonstrated staying power; Dogecoin, originally created in 2013 as a joke, has gone on to become one of the top 10 cryptocurrencies by market cap. However, many meme coins burn out quickly, as a result of low liquidity, extractive tokenomics and cultural trends moving on at the speed of social media.
Edited by Stacy Elliott.
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