Solana's meme coin, dogwifhat (CRYPTO:WIF), achieves a remarkable milestone by securing the third spot in memecoin market cap rankings, overtaking PEPE (CRYPTO:PEPE).

With a market capitalisation of $4 billion, WIF's meteoric rise since its November 2023 launch reflects the ongoing meme coin season within the Solana (CRYPTO:SOL)  ecosystem.

Despite its humble beginnings at a fraction of a cent, WIF has soared in popularity, driven by Solana's lower gas fees compared to Ethereum (CRYPTO:ETH), attracting attention from both investors and exchanges.

The recent listing on prominent exchanges like Binance and KuCoin (CRYPTO:KCS) further validates WIF's credibility, solidifying its position as a leading memecoin on Solana.

While Shiba Inu (CRYPTO:SHIB) and Dogecoin (CRYPTO:DOGE) maintain their dominance with significantly larger market caps, WIF's ascent signifies the growing interest in Solana-based meme tokens amid the crypto community.