Dogwifhat Trading Volume Surges 132% Amid New Year Memecoin Frenzy
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
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Source: Benzinga
- Volume Surge: The Solana-based memecoin dogwifhat surged over 17% in the last 24 hours, with trading volume skyrocketing 132% to $450 million, indicating strong buying interest that could drive future price increases.
- Strong Market Performance: Pepe and Bonk rose by 17% and 14% respectively, both exceeding a market capitalization of $1 billion, making them the second and third largest gainers in the past 24 hours, reflecting sustained investor enthusiasm for memecoins.
- Market Recovery: The overall memecoin market capitalization increased by 5.72% in the last 24 hours to $47.75 billion, indicating a restoration of market confidence that may provide opportunities for long-term investment.
- Increased Trading Activity: Total trading volume for memecoins rose by 50% to $8.83 billion in the last 24 hours, suggesting heightened investor interest in the sector, which may signal future growth potential.
Analyst Views on SOL
About SOL
Emeren Group Ltd is a renewable energy company. The Company is a global solar and energy storage project developer, owner and operator with a pipeline of projects and IPP assets of more than seven gigawatts (GW) in solar projects and an energy storage pipeline of over 10 GWh across Europe, North America, and Asia. The Company develops and sells solar and storage power projects or project special purpose vehicles (SPVs) (project development business); provides engineering, procurement and construction (EPC business); owns and operates solar power projects and sells the electricity generated by its operated solar power plants (IPP business), and provides project development services (DSA business). The Company conducts the IPP business, EPC business, DSA business and project development business in a number of countries, including the United States, Poland, Hungary, Spain, France, United Kingdom (UK), Germany, Italy, Luxembourg and China.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
