Dogwifhat surged to a new peak of $4.64 on March 30 but has since dipped to $4.32 as of 2:00 pm (UTC), based on CoinMarketCap data. With a $4.3 billion market cap after an 87% weekly surge, it now ranks as the third-largest memecoin, surpassing Pepe token's $3.4 billion cap.

Despite a 431% increase in the past month, the largest holder, who bought WIF tokens at an average of $0.32, has yet to sell, holding $139.5 million worth of tokens with an unrealized profit of $127.3 million.

The price peaked at $3 on March 14 following a crowdfunding campaign that raised over $700,000 for advertising on the Las Vegas sphere, resulting in a 25% surge in WIF's price. Can WIF reach $10? Arthur Hayes, former CEO of BitMEX, predicted so before it hit $3, stating, "The hat stays on while I count to $10." Dogwifhat is following Dogecoin's footsteps, which reached a $75.2 billion market cap in May 2021 and is currently valued at $30.2 billion. To match DOGE's market cap, WIF's price would need to reach $30.8 per token, an eightfold increase, which is not uncommon in the world of memecoins.

During the 2021 bull market, Dogecoin's price surged over 892% in the month leading up to its all-time high, from $0.07433 on April 12, 2021, to $0.7376 on May 6.