Memecoins turned out to be the saviors of a besieged cryptocurrency market Monday, as dogwifhat, Floki, and Bonk defied the broader market sell-offs to emerge as the biggest gainers. What Happened: A searing rally saw Solana (CRYPTO: SOL)-based WIF and BONK, along with Ethereum (CRYPTO: ETH)-based FLOKI, pump dramatically during the day, reversing the week-long corrective action. WIF was the gainer in the memecoin sector among tokens with a market cap exceeding $1 billion. The coin, based on a popular meme of a Shiba Inu puppy wearing a pink beanie, witnessed a 127% spike in trading volume to …
