Solana-based memecoin dogwifhat hits all-time high

Solana-based dogwifhat has gained over 50% to reach record highs today after listing on Binance at 9 a.m. ET on Tuesday.

Amid bitcoin’s post-all-time high sell-off yesterday, dogwifhat initially fell 17% from around $1.35 to a low of $1.12 as the broader crypto market followed bitcoin’s price action. However, it has subsequently nearly doubled from that low to a new all-time high of its own at around $2.16, according to The Block's price page .

Dogwifhat WIF +12.39% is currently trading at $2.06 — up 17% over the past 24 hours, 240% in the past week and a staggering 1,245% year-to-date. The dog-themed token has now reached a $2.1 billion market capitalization — just three months after it launched in November and went viral.

In comparison, memecoin Pepe has gained around 7% over the past 24 hours, while Dogecoin, Bonk, and Shiba Inu each registered losses of around 10%.

While the newer Pepe and Bonk memecoins are also close to their recently set all-time highs, older memecoins Doge and Shiba Inu both remain around 50% down from their record highs, set in April and October 2021, respectively.

The overall memecoin market capitalization is down 0.8% over the past 24 hours, according to CoinGecko. The GM 30 Index , representing a selection of the top 30 cryptocurrencies, increased 0.03% to 145.64 over the same period.

Yesterday, Bitcoin briefly reached a new all-time high above $69,000 for the first time in 846 days. Bitcoin is currently trading at $66,952, according to The Block’s price page .