Dogwifhat Rockets to Third-Largest Meme Coin Amidst Crypto Market's Weekend Vigil

Dogwifhat (WIF) has emerged as a significant player in the meme coin sector, experiencing a surge that propelled it to become the third-largest meme token by market capitalization. Trading around the $4 mark, Dogwifhat showcased considerable volatility, typical of meme coins, while Bitcoin maintained its position around $70,000. The broader market, including Ether (ETH), Solana's SOL, and Cardano's ADA, demonstrated minor fluctuations, with Bitcoin Cash (BCH) notably adding 4% following a rally. Meme coins, led by Dogwifhat, outpaced other sectors like decentralised finance (DeFi) and exchange tokens, with the CoinGecko data indicating an 8% surge in the meme coin category. The enthusiasm around Dogwifhat and other dog-themed tokens like floki (FLOKI) seems to be fueled by speculation, including rumours of potential usage of DOGE on an upcoming payment service of a social application. However, amidst the excitement, trading firms caution about a possible pullback, citing signs of exhaustion in the price action of Bitcoin and Ether.