The Solana-based meme coin WIF has experienced a significant increase of around 17% within the last 24 hours, as reported by CoinGecko. Achieving an all-time high of $4.00, this quirky cryptocurrency was introduced to the market in November 2023 and swiftly rose to prominence among meme coins.

WIF has now surpassed Pepe (PEPE), another popular joke cryptocurrency, with market values of $3.6 billion and $3.3 billion, respectively. While PEPE only saw a minor 1.3% price increase in the last 24 hours, it has decreased by 4.1% over the past week. Dogecoin (DOGE) maintains its status as the leading meme coin with a market cap of over $30 billion, marking a 30% increase in the past week, now holding the 9th position in terms of market capitalization.

SHIB, a rival of Dogecoin, experienced a slight decline of 0.3% in the last 24 hours. Nonetheless, it has seen an 8.3% growth over the past week. Recently, Joe Weisenthal, the co-anchor of What’d You Miss? on Bloomberg Television, offered insights into the popularity of meme cryptocurrencies, suggesting that they cater to the demand for high-risk, high-return investments that traditional assets cannot match.