Solana
SOL
$124
has become the latest altcoin to mint new yearly highs amid a wider crypto rally, with activity on the blockchain spurred by a scramble to buy up the dogwifhat (WIF) memecoin.
In the last 24 hours, Solana has posted a 13.3% gain, rising rapidly from $108 to reach a new yearly high of $124.17 at the time of publication, per CoinGecko data.
The price of Solana has grown 13.3% in the last 24 hours. Source: CoinGecko
Preceding the Solana rally was a frenzy of buying activity for the Solana-based memecoin dogwifhat (WIF), which has seen its price rise 55% from $0.52 on Feb. 27 to $0.82 at the time of publication.
Launched on Dec. 14 last year, WIF is a memecoin that features a picture of a Solana developer’s dog wearing a knitted hat. Since its inception, WIF has gained more than 50,000%.
Solana, however, still remains down 52% from its all-time high of $259.62, which it reached on Nov. 6 in 2021.
