Dogwifhat (CRYPTO: WIF), a Solana (CRYPTO: SOL) based-token based on the popular Dogwifhat meme, has seen its value skyrocket over 2000% in less than a month, outperforming BONK (CRYPTO: BONK) another SOL-based meme coin that gained over 540% increase over the last 30 days.
What Happened: From its launch over Thanksgiving week, the token has gone up by over 2000%, climbing from a hundredth of a penny to almost $0.14 at the time of writing.
According to data from Coingecko, this increase has happened in less than a month.
The Dogwifhat frenzy has not been limited to meme coins either. It has spilled over to non-fungible tokens (NFTs) on the Solana network.
A collection of 550 Dogwifhat Solana NFTs launched this month and has already seen their value balloon. The cheapest item in the collection is now selling for 13.2 SOL, or $955 at the time of writing.
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Why It Matters: However, just a few days ago, these NFTs were selling for less than $15. In the last 24 hours, Dogwifhat has increased by 72%.
Solana has also seen a significant rise in value over the past few months, but the gains in BONK have surpassed it by far.
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