- After a strong price hike, Dogwifhat (WIF) is now the third-largest meme coin, with a market valuation of $3.742 billion and trade volumes close to $41 billion.
- WIF/PEPE is exhibiting a bullish breakout pattern, which suggests that WIF could beat PEPE, according to cryptocurrency analyst Crypto ₿ULL God.
The remarkable voyage of Dogwifhat (WIF), a meme coin that has taken the market by storm, especially in the last month, has the cryptocurrency community in a frenzy. After seeing a remarkable surge, WIF’s value peaked at $4. It then steadied at a 16.30% gain, and it is currently trading at $3.58.
Unstoppable Dogwifhat’s Ascent
Its market capitalization has increased to a staggering $3.742 billion as a result of this outstanding development, and its daily trading volumes have increased by 53% to about $41 billion.
With all of this activity, Dogwifhat has surpassed PEPE and is now the third-largest meme coin by market capitalization, only behind DOGE and SHIB, the two titans of the meme coin world. This extraordinary ascent not only highlights WIF’s incredible trajectory but also points to a change in the meme coin ecology.
Another Bullish Prediction
A tweet from renowned crypto analyst Crypto BULL God that suggests WIF may further outperform PEPE in the future is adding to the speculative frenzy. WIF is ready for a bullish surge against PEPE, as indicated by a building Symmetrical Triangle pattern on the WIF/PEPE pair’s daily chart.
Huge #BULLPennant / #AscendingTriangle Suggesting #WIF is preparing for a LARGE Move up against #PEPE and based on the $WIFUSD chart, a large move up on the USD pairing#WIF #DOGE $DOGE #Memecoins #Crypto #Bitcoin #BTC #Solana #SOL $SOL pic.twitter.com/MQHqxYzsHk
— Crypto ₿ULL God (@CryptoBullGod) March 28, 2024
This analysis challenges the known dynamics within the meme coin industry and points to a continuous bullish trend for WIF, echoing earlier coverage by ETHNews.
Also highlighted is the largest WIF holder, which goes by the address 2Fcm… PE6d. Their profits have increased to $134 million, a whopping 1440% rise.
The source of this windfall is an original investment made in WIF tokens in December 2023, when they were bought for an average of $0.248 per token. There is no sign of selling despite the value increase, indicating a high level of confidence in WIF’s rising trajectory.
The Journey of Dogwifhat to Become a Blue-Chip Meme Coin
Experts are optimistic about Dogwifhat’s chances of surpassing the $10 billion barrier in the near future, which would solidify its position as a blue-chip meme coin. Recent $2.09 million in liquidations and a 29% increase in open interest, which is currently projected to be $528.6 million, corroborate this optimistic prediction.
Fundamentally, Dogwifhat supports community governance and decentralization. With a restricted quantity of 998.9 million tokens, the meme currency embodies a decentralized mentality where community interaction plays a crucial role in shaping the network’s future course.
According to ETHNews, a picture of Elon Musk’s dog wearing a hat previously caused a 30% increase in the DogWifHat token, fueling the craze surrounding the meme coin’s impressive market performance.