Why Dogwifthat Overturning Arbitrum Is Just the Beginning: Cosmos Next

Solana-based meme coin DogwhipHat (YFF) continues its impressive upward trajectory, entering the top 30 cryptocurrencies by market capitalization.

This achievement follows a week of extraordinary growth, pushing WIF to retain its position behind Dogecoin and Shiba Inu as one of the top three token coins.

Dogwhiphat entered the top 30 cryptocurrencies

In the last 24 hours, WIF jumped more than 7% to $4.68, raising its market cap to $4.48 billion, a significant increase. This milestone puts MemCoin in 29th place among cryptocurrencies by market capitalization, surpassing Ethereum's Layer 2 Network Arbitrum at $4.39 billion and closely followed by Cosmos at $4.8 billion.

This is another significant milestone in Mem Coin's journey since the beginning of the year. In fact, Dogwiffhat is a relatively recent addition to the meme coin scene that launched last year on the Solana ecosystem.

Despite its new status, it has carved out a niche in the highly competitive crypto industry, ranking among the top 20 cryptos in terms of trading volume.

Read more: 13 best Solana meme coins to watch in 2024

Incredibly, over 100,000 wallets currently hold WIF, with the largest holder showing no interest in selling despite its rapid rise in value. In fact, the wallet holds $139.5 million in YF tokens at an average of $0.32, representing a currently unaccounted profit of $127.3 million.

Market analysts predict continued growth for Dogwhiphat. Assad, Cryptonary's Chief Meme Officer, has already predicted the price of YFF to hit $100, citing several bullish market indicators.

It highlighted the crypto market's readiness for massive capital inflows beyond previous cycles, sending Bitcoin to all-time highs and quadrupling Solana's value.

“WIF is paving the way to $100. [because] BTC broke its all-time high, and SOL has about four times that. Plus, the snowball effect of meme coins isn't slowing down. [and] “Injecting more capital into crypto than previous cycles,” Assad explained.

Read more: 7 Hot Meme Coins and Altcoins Trending in 2024

Moreover, amid the ongoing macroeconomic uncertainty and the upcoming US presidential elections, the crypto market shows promise for big gains. While Asad sees major cryptocurrencies triple their current levels, YF emphasizes that it is set for a staggering 10x increase.