Solana blockchain meme coin, Dogwifhat (CRYPTO: WIF) is up 50% in three days.

The so-called easily outperforming top meme cryptocurrencies like Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB)

What Happened: Dogwifhat rebounded from its local bottom around $0.17 and is trading around $0.25, according to Coingecko data. Trading volumes expanded by 72%, reflecting the traders rising interest in the token.

Bitfinex, a leading centralized cryptocurrency exchange, announced the listing of WIF, with deposits open from Feb.7, 2024. Withdrawals on the exchange open on Feb.9.

Solana is up 6.4% on the week and is trading around $105, contributing to positive sentiment around the "Dogecoin killer."

Also Read: Dogwifhat On Fire With 125% Gains After ByBit Listing: 'WIF Is The Next BONK' Says Analyst

Why It Matters: While the crypto community buzzed with excitement over dogwifhat after a viral video showed a Wall Street bronze bull wearing a 'S—coin' hat, "MacroCRG expects more upside:

$WIF still looking strong af

Hate rally incoming https://t.co/T6FxILI1YI pic.twitter.com/5uyaCETBWV

— CRG (@MacroCRG) February 8, 2024

Another analyst, Cactus Capital, stated that putting a hat on a dog is one of the most “significant innovations in the realm of cryptocurrency in recent years.”

One X user also suggested that if the dog still has a hat, you should buy more. If not, selling should be considered:

$WIF conservative roadmap

1/ First dog to $1

2/ Fill the wick to $4

3/ Get to Shib ATH MC at $41

3/ Get to Doge ATH MC at $89

4/ BTC ATH MC at $1285

"Buttttt Larrrryy, how do I know if I should buy?"

Here is a simple decision matrix:

Does the dog still have a hat?
-If…

— Laser Eyed Fink (@BoardInvestor) February 7, 2024

Technical analyst Web3Quant predicts WIF is "about to rip" and sees the "Bonk (CRYPTO: BONK) playbook" playing out.

Whether or not dogwifhat will gomainstream, or mirror the success of Dogecoin and Shiba Inu remains to be seen. However, traders have made quick and significant profits from the token and other meme coins.

Read Next: GameStop, Dogwifhat And 'Dogecoin Killers' – How Memecoins Teach A 'Skill To Succeed' In Crypto

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