Meme Coin Market Surges: Shiba Inu Token Prices Skyrocket, Dogwifhat Shorts Face Massive Liquidations
In the cryptocurrency realm, meme coin activity is on the rise, notably with Dogwifhat experiencing a significant surge in short liquidations.
Dogwifhat, a meme coin operating on the Solana (SOL) blockchain, has seen a substantial price increase. The token, featuring a Shiba Inu donning a pink knitted cap, surged to $3.97, marking a 29.74% increase in the last 24 hours, per CoinGlass.
The surge in Dogwifhat's value contrasts sharply with Dogecoin, the leading memecoin, which witnessed $1.72 million worth of long positions liquidated in the past 4 hours.
Dogwifhat's Price Skyrockets Over 5000%, Becoming a Hot Meme Coin in the Top 50 of Crypto Market Value
Despite the recent frenzy, Dogwifhat has maintained its position, witnessing a remarkable ascent from an all-time low of under $0.07 to a high of $3.53 on March 14. This represents a staggering gain of over 5,000% in just two months, placing the token among the top 50 by market cap.
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Dogwifhat's recent price surge aligns with the broader trend of meme coins in the cryptocurrency market. As investors seek top picks for the year, Dogwifhat emerges as a strong contender, boasting impressive performance.
Dogecoin has also garnered attention with a significant value surge preceding its upcoming launch on Apr. 20, suggesting potential bullish momentum and highlighting the growing interest in meme coins.