Dogwifhat ($WIF) surged 7% to $1.30, with trading volume reaching $1 billion — can this Solana-based meme coin break through to $4.83 in the competition between whales and retail investors for dominance?
Dogwifhat ($WIF) broke through $1.30 with a 7% increase, converting its $1 billion market cap into a launch pad for rising to $4.83. Solana's pink hat meme coin is now absorbing selling pressure like a bull flag about to break.
$WIF's daily trading volume reached $1.1 billion, with huge whales accumulating, likely surpassing other meme coins. But the question remains: can this rally continue under the shadow of unsuccessful community events?
$WIF rebounds: charting the path to new highs
Dogwifhat ($WIF) has become a well-known meme token based on Solana, thriving not due to technological utility but rather due to strong community engagement and meme-driven culture.
Like other successful Solana meme coins such as $PEPE and $FLOKI, its popularity has caught the attention of major exchanges like Coinbase and Binance, significantly expanding its influence. The activity of whales has also enhanced its momentum.
Earlier this month, large holders accumulated over $30 million worth of $WIF, while DeFi Dev Corp announced plans to launch a $WIF validator to allow holders to earn passive income.
These developments indicate growing confidence in the token ecosystem among institutions and retail.
Community-driven initiatives remain the core of Dogwifhat's ($WIF) growth strategy.
For example, the 'WIF Hat Generator' — a tool that allows users to create custom images featuring the token's iconic pink hat mascot — aims to enhance brand engagement and viral spread. However, not all initiatives have been successful.
In March 2024, the community raised $700,000 in USDC to showcase the Dogwifhat logo on the digital screen of the Las Vegas Sphere, with plans to launch in the first quarter of 2025.
However, this effort failed after Sphere representatives clarified they had not reached an agreement with $WIF and only accepted Bitcoin-related crypto ads.
Reports suggest that the Dogwifhat team tried to facilitate the deal through a third party, but once Sphere publicly denied involvement (citing its anti-meme coin policy), the intermediary suddenly withdrew.
Subsequent transformation attempts, including potential artist collaborations, also failed.
By April 2025, the organizers officially canceled the event and refunded the donors, marking a rare setback for the $WIF rally originally driven by the community. Nevertheless, recent growth has sparked speculation among many analysts regarding its price trend.