Solana rockets 13% to new yearly high, led by WIF memecoin frenzy

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The price of Solana surged to reach a new 2024 high, while traders are doubling down on the Solana-based memecoin dogwifhat.

Solana (SOL) has become the latest altcoin to mint new yearly highs amid a wider crypto rally, with activity on the blockchain spurred by a scramble to buy up the dogwifhat (WIF) memecoin. 

In the last 24 hours, Solana has posted a 13.3% gain, rising rapidly from $108 to reach a new yearly high of $124.17 at the time of publication, per CoinGecko data.

Preceding the Solana rally was a frenzy of buying activity for the Solana-based memecoin dogwifhat (WIF), which has seen its price rise 55% from $0.52 on Feb. 27 to $0.82 at the time of publication.

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