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<ul>
 <li>Dogwifhat (WIF) now ranks as the third-largest meme coin by market cap, surpassing PEPE.</li>
 <li>Dogwifhat (WIF) hit $4.63, an all-time high, amid a market cap surge.</li>
 <li>Open interest for Dogwifhat (WIF) has surged by 23% to $643 million in the last 24 hours.</li>
</ul>
The Solana-based meme coin, <a href="https://thenewscrypto.com/dogwifhat-surpasses-floki-claims-4th-spot-among-memecoins/" target="_blank" rel="noopener noreferrer nofollow">Dogwifhat</a> (WIF), has surged to prominence, overtaking PEPE to claim the title of the third-largest meme coin by market capitalization. This significant feat underscores the coin’s rapid ascent, driven by a substantial increase in both its price and overall market cap, which stands at $4.48 billion.
The surge in Dogwifhat’s <a href="https://thenewscrypto.com/las-vegas-sphere-to-feature-dogwifhat-memecoin-ad/" target="_blank" rel="noopener noreferrer nofollow">popularity</a> can be attributed to various factors, including its recent sale of the original WIF NFT for a staggering $4.3 million. Today, Dogwifhat experienced yet another substantial 22% spike, reaching an all-time high of $4.63. This surge follows a previous all-time high attained in mid-March, signaling sustained momentum in its upward trajectory.
<h3 class="wp-block-heading" id="h-what-triggered-the-dogwifhat-rally">What Triggered the Dogwifhat Rally?</h3>
According to data from Coinglass, a leading on-chain analytics firm, Dogwifhat’s open interest has surged by 23% in the last 24 hours, reaching a staggering $643 million. However, this sparks concerns about its sudden surge in value.
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="925" height="520" src="https://thenewscrypto.com/wp-content/uploads/2024/03/image-190.png" alt="" class="wp-image-94997" srcset="https://thenewscrypto.com/wp-content/uploads/2024/03/image-190.png 925w, https://thenewscrypto.com/wp-content/uploads/2024/03/image-190-300x169.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/03/image-190-768x432.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/03/image-190-376x212.png 376w" sizes="(max-width: 925px) 100vw, 925px">
 <figcaption class="wp-element-caption">Dogwifhat Open Interest (Source: <a href="https://www.coinglass.com/currencies/WIF" target="_blank" rel="noopener noreferrer nofollow">Coinglass</a>)
 </figcaption>
 </figure>
</div>
Meanwhile, PEPE, inspired by the controversial Pepe the Frog webcomic character, has seen a modest 1.84% price surge over the last 24 hours and holds a market cap of $3.37 billion. Moreover, the meme coin has faced an uptrend of 6% over the past week, highlighting a contrast in performance compared to the surging WIF.
DOGE, the world’s most renowned meme coin, has also experienced a notable price surge, surpassing 29% and currently hovering around $0.21, the level not seen since November 2021. This further highlights the widespread enthusiasm for meme-based cryptocurrencies.
However, this surge in interest is not limited to Dogwifhat alone but extends to other top meme coins such as Dogecoin (DOGE) and FLOKI.

Dogwifhat (WIF) Surges to Third-Largest Meme Coin Position Outpacing PEPE

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