Dogwifhat Meme Coin Hits All-Time High, Flipping Pepe as Speculative Assets See Renewed Hype

• Dogwifhat, a new Solana meme coin launched in 2021, hit an all-time high price today of $3.90, flipping veteran meme coin Pepe in market cap.

• Meme coins overall are seeing big gains lately - Dogecoin, Floki, and BONK are up double digits percentage-wise over 24 hours.

• Meme coins lack fundamentals and are extremely volatile, driven by hype and social media trends rather than technology or financials.

• Dogwifhat's technical indicators show it is overbought currently, meaning a price correction could be ahead despite today's new high.

• 65 of the top 100 meme coins have posted 24 hour gains, but these assets are risky and prices could crash rapidly.