#Which narratives are you bullish on? AI, memecoin or gaming? The meme coin featuring a dog adorned with a pink hat surged in popularity amidst the current cryptocurrency bull market, now boasting a market capitalization of $2.6 billion. However, its rapidly increasing price may indicate heightened market speculation.

The dog-themed meme coin, known as dogwifhat (WIF) on the Solana (SOL) blockchain, is set to make an appearance in Las Vegas thanks to community donations. The campaign quickly surpassed its $650,000 goal, raising over $690,000 in USDC stablecoin within four days.

Ansem, a key figure in the campaign, announced the successful funding on social media. Despite this achievement, some analysts caution that such publicity stunts are often associated with market peaks.

Since its launch last year, Dogwifhat has gained significant traction, becoming one of the most popular memes in the crypto market alongside coins like dogecoin (DOGE), shiba inu (SHIB), and bonk (BONK).

Following the fundraising surge, WIF saw a 35% increase in value over the past 24 hours, outperforming the broader crypto market. It surpassed floki (FLOKI) to become the fourth largest meme token by market capitalization, reaching $2.6 billion in value.

Meme coins, while a small but growing segment of the digital asset market, are considered among the riskiest assets due to their inherent volatility within the cryptocurrency space.