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<ul> 
 <li style="font-weight: 400">Solana-based meme coin Dogwifhat (WIF) token has experienced a remarkable 57% surge in its price over the past week.</li> 
</ul> 
According to CoinStats data, WIF was up 11% in the last 24 hours to $2.80 and has gained 57% in the last seven days.&nbsp; 
WIF has cemented its place among the top 50 crypto assets by market capitalization and now ranks as the 32nd largest crypto with a market value of $2.79 billion. 
The exact reason for WIF’s 57% gain remains unknown, but a combination of factors such as bullish sentiment and technical breakout might be likely. 
Technically, WIF appeared to break out of what seems to be a “cup and handle” formation on its price chart, indicating a bullish trend. 
The cup and handle technical pattern often indicates the continuation of an uptrend after a period of consolidation. The “cup” part of the formation depicts a rounded bottom, while the “handle” is a brief period of consolidation preceding a breakout. 
WIF has notably risen higher since forming a base at a low of $1.49 on July 11. Taken from this date, WIF has marked nine out of ten days in green, marking an uptrend. WIF reached highs of $3.11 in today’s trading session before seemingly encountering resistance. 
<h3 id="span-style-font-weight-400-meme-coin-bullish-narrative-boosts-dogwifhat-span">Meme Coin Bullish Narrative Boosts Dogwifhat</h3> 
According to CoinGecko’s recent Q2 Crypto Industry <a href="https://x.com/coingecko/status/1814948440985813320">Report</a>, meme coins dominated the most popular crypto narratives in Q2, 2024, accounting for 14.3% of the market. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 What crypto narratives are most popular with investors? 
 Our Q2 Crypto Industry Report found that Meme Coins took the spotlight in 2024 Q2, leading the most popular crypto narratives with a 14.3% market share. 
 Read the full report: <a href="https://t.co/51vdGLcDTh">https://t.co/51vdGLcDTh</a> <a href="https://t.co/6MAKbYIyRt">pic.twitter.com/6MAKbYIyRt</a> 
 — CoinGecko (@coingecko) <a href="https://twitter.com/coingecko/status/1814948440985813320?ref_src=twsrc%5Etfw">July 21, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
According to CoinGecko, the most popular narratives in Q2, 2024, were meme coins, real-world assets (RWA) and artificial intelligence (AI), accounting for 35.7% of the market share.&nbsp; 
This was comparable to Q1, 2024. Meme coins dominated the ranking, with four of the top fifteen most popular crypto narratives involving meme coins.

Solana’s Dogwifhat (WIF) Skyrockets 57%: Here’s Why

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