Dogwifhat (WIF) has experienced a significant surge, reaching an all-time high for the second time in a week with a remarkable increase of over 250%. The token, which was launched three months ago at $0.0045, skyrocketed to $1 and spiked further to $1.13.

WIF Monthly Price Chart

Source: CoinMarketCap

This surge in Dogwifhat’s price is attributed to the ongoing bull market, particularly in the memecoin sector. The cryptocurrency market cap increased by 2.6% today, while the memecoin market saw a growth of 21%, reaching $37.8 billion. The listing of Dogwifhat on Robinhood earlier today contributed to a trading volume increase of over 50%.

Whale movements also played a significant role in the price hike of WIF. According to Lookonchain, a Solana whale purchased $1.34 million worth of WIF tokens shortly after the listing on Robinhood.

With a market cap surpassing $1.1 billion, Dogwifhat has climbed the ranks to become the fifth-largest memecoin in the market, surpassing FLOKI and CorgiAi earlier this week.

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