Mike Novogratz, CEO of Galaxy Digital and recognized for investing in cryptocurrencies, recently posted something on social media about Dogwifhat (WIF), a meme coin built on the Solana blockchain.
This post has sparked interest. Novogratz said he was interested in buying items with the token’s picture of a Shiba Inu wearing a knitted hat on them.
Dogwifhat Rising Crypto Star
Dogwifhat has been going up quickly since its launch in November 2023, which explains the rise in attention. This joke coin was first thought of as an entertaining means to honor a popular photo of an adorable dog wearing a hat.
Its value has gone through the roof, reaching a high of $4.88 per token. Dogwifhat has gotten a lot of attention in the crypto community due to its strong market capitalization of $2.53 billion and trade volume of more than $250 million.
Novogratz talked about how meme coins are becoming more important in the cryptocurrency world earlier this week. Specifically mentioning WIF along with other prominent ones like Dogecoin and Shiba Inu, he talked about how they can be used as both investments and cultural icons. Together, these meme coins control a market that is thought to be worth around $60 billion.
Dogwifhat merchandise has been getting a lot of attention lately. This is part of an overall trend where digital assets are used for more than just making funds .
They are also used as ways to show culture and connect with others. Novogratz’s interest shows how digital finance is changing. Unusual assets like meme coins are having more of an effect on both investment portfolios and pop culture.
