Meme coins such as Bonk (BONK), Pudgy Penguins (PENGU), and Dogwifhat (WIF) recorded double-digit gains last week, driven by uplifted sentiments in the crypto market.
Solana (SOL) blockchain’s meme coin sector has been consistently growing in popularity, with tens of thousands of tokens launched and a total market capitalization of billions of dollars.
Dogwifhat’s (WIF) price is in the process of reversing the trend upward, trading at around $1.00 on Wednesday. The Solana-based meme coin tested support at $0.92, following a rejection from the supply-rich zone at approximately $1.31 on May 12.