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<a href="https://u.today/solanas-shiba-inu-dogwifhat-wif-suddenly-skyrockets-25-key-reason">Dogwifhat (WIF)</a>, a meme-inspired cryptocurrency based on the Solana blockchain, has increased by 47% in the last 24 hours, reaching a new all-time high of $0.571.
At the time of writing, WIF was up 44.41% to $0.543. Solana's "Shiba Inu" Dogwifhat price jump in the last 24 hours follows a 6% increase in the price of Bitcoin.
Bitcoin, the largest cryptocurrency by market value, reclaimed the $57,000 level for the first time since late 2021. Bitcoin's price has climbed 32% since the beginning of the year, continuing a long-running rally that has encouraged speculative interest in altcoins.
<img alt="TradingView" data-entity-type="file" data-entity-uuid="0886e65e-13ab-4cfe-a43b-073d54904b87" src="https://u.today/sites/default/files/inline-images/27022024%201111.png"><a href="https://www.tradingview.com/x/yUm7N4VQ/">WIF/USDT Daily Chart, Courtesy: TradingView</a>
SOL, the native token of<a href="https://u.today/solana-sol-falling-behind-btc-eth-in-liquidity-index"> Solana</a>, where WIF finds its home, also mirrored the general market rally, rising 8% to trade at $111.43 at press time.
The overall market surge has sparked tremendous interest among traders, as evidenced by meme coin price increases.
According to <a href="https://coinmarketcap.com/currencies/dogwifhat/">CoinMarketCap </a>data, the top meme tokens by market capitalization increased by 9.1% in the last 24 hours, reaching a total of $24.45 billion. Aside from Pepe, which had a 50% price increase, Dogwifhat led the 24-hour jump among meme currencies, rising 47%.
WIF's 24-hour trading volume has increased by 210% to $119.6 million, matching its price surge.
<h2 id="what-s-next">What's next?</h2>
Notably, WIF continued to increase over the weekend after hitting a low of $0.285 on Feb. 24. The bulls surged higher on a four-day run, surpassing the $0.531 barrier set on Jan. 18 and breaking WIF's previous all-time high.
WIF's price has entered uncharted territory after achieving new all-time highs, so where it goes next may be difficult to forecast. Logically, a sustained break above its current all-time high of $0.571 might push it into the $0.6 region.
On the other hand, WIF may seek intermediate support at the prior barrier of $0.47.&nbsp;

Solana Meme Coin Dogwifhat (WIF) Skyrockets 47%, What's Behind Rally?

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