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<p>A new Solana-based meme coin, dubbed Dogwifhat (WIF), has edged out its Ethereum-based counterpart Floki (FLOKI) in market capitalization, according to CoinGecko <a href="https://www.coingecko.com/en/categories/meme-token" rel="noopener noreferrer nofollow">data</a>. The meme coin is now worth a cool $310 million, threatening to challenge the likes of Pepe (PEPE).</p>
<h2 id="performance-of-top-meme-coins">Performance of top meme coins</h2>
<p>The past 24 hours have seen a mixed bag of performances. Leading the pack, Dogecoin (DOGE) experienced a modest gain of 1.7%, with Shiba Inu (SHIB) not far behind, posting a 1.4% increase. Bonk (BONK) led with a more substantial rise of 8.1%, despite a slight hourly dip, continuing its notable 34.1% climb over the last week.</p>
<p><a href="https://u.today/pepe-on-steroids-why-is-pepe-up-15-today" rel="noopener noreferrer nofollow">Pepe (PEPE)</a> saw a minor uptick of 0.6%, while CorgiAI (CORGIAI) trailed with a slight decline of 0.8%. The standout performer, Dogwifhat (WIF), surged by an impressive 45.4%, further stoking the speculative fire that has seen its value skyrocket by 222.0% in the past week.</p>
<p>Floki (FLOKI), in contrast, had a more subdued 24 hours with a 1.5% increase, while Memecoin (MEME) jumped by 15.7%, showcasing robust weekly growth. Baby Doge Coin (BABYDOGE), however, dipped by 0.5%.</p>
<h2 id="bonk-has-faded-but-what-comes-next">BONK has faded, but what comes next?</h2>
<p>After the BONK-driven Solana rally concluded, the meme coin market saw a significant downturn, with prices dropping by as much as 80% from their peak.</p>
<p>Yet, despite this pullback, there's chatter about other Solana-based meme coins potentially reigniting interest in the network.</p>
<p>As noted above, <a href="https://u.today/solanas-bonk-bonk-13000-spike-heres-what-to-pay-attention-to-analyst" rel="noopener noreferrer nofollow">BONK</a> itself has seen a modest 8% uptick in the last 24 hours, the broader decline has not deterred the Solana ecosystem's growth.</p>
<p>However, other meme coins may yet catalyze another rally as investors continue to seek out the next breakout star.</p>

New Solana Meme Coin Upstart Surpasses Floki

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