Dogwifhat (WIF), the fourth-largest meme coin by market capitalization, has been on a meteoric rise, recording an impressive 12% price surge for the second day in a row. The WIF price has breached the $4 mark once again, propelling its market cap past $4 billion and sparking a 30% increase in daily trading volumes, which now exceed $1.5 billion.
TLDR
- Dogwifhat (WIF) has seen a significant price surge, gaining 12% for the second consecutive day and reaching a market cap of over $4 billion.
- The meme coin’s daily trading volume has crossed $1.5 billion, and the number of WIF holders has increased by 6.7% in the past 30 days.
- If the WIF price closes above the $4 mark, it could confirm a bullish breakout, potentially leading to new all-time highs above $5 by the end of the month.
- Despite the recent market downturn, DogWifhat has shown resilience and is preparing for a potential breakout, making it one of the altcoins to watch.
- Long-term forecasts suggest that WIF could soar above $10 before the end of the year, marking a historic feat for meme coins.
The meme coin’s rally has been relentless, with gains of 30% over the past week and more than 40% over the past month.
On-chain indicators suggest that the bullish momentum is likely to persist, as evidenced by a 6.7% increase in the number of WIF holders over the past 30 days, indicating that investors are taking advantage of the recent dip to accumulate more tokens.
DogWifhat has outperformed Ethereum (ETH) by a factor of 15 over the past seven days, showcasing its strength in the current market.
The token has also experienced a positive net flow, with $162 billion in buying volume compared to $158.8 billion in selling volume, according to data from Dune Analytics.
Analysts are now speculating about the possibility of DogWifhat reaching new all-time highs in the near future. The recent price surge has brought WIF within 12% of its current all-time high of $4.65.
If the price closes above the ascending trend line around $4, it could confirm a bullish breakout, potentially driving the price towards new highs above $5 by the end of the month.
Despite the recent market downturn, which saw DogWifhat lose 40% from its all-time high of $4.85 registered on March 31, the meme coin has shown remarkable resilience and is now preparing for a potential breakout. This has placed WIF on the radar of many investors as one of the altcoins to watch closely.
Long-term forecasts for DogWifhat are equally promising, with top experts suggesting that the meme coin could soar above $10 before the end of the year.
If realized, this would mark a historic feat for meme coins and solidify WIF’s position as one of the top meme cryptocurrencies to invest in, given its significant growth prospects and lighthearted nature.
