$WIF
In the recent price surge, the primary catalyst for the rise in the price of WIF was at the end of February when it traded at $0.30. Since then, there has been no looking back as the price has skyrocketed by an astounding 2600% so far.
The growth of WIF since the beginning of the year has outpaced that of other popular meme cryptocurrencies such as Floki (FLOKI), which grew by 558%, and PEPE, which saw an increase of 455%.
With an incredible gain of 100% over the past week, the price of Dogwifhat (WIF) has overtaken PEPE to become the third-largest cryptocurrency. Its next target will be to surpass Shiba Inu (SHIB). However, this is a massive task given that SHIB's volume is five times that of WIF.
Will the price of WIF continue to rise?
Amid the astonishing rise in the price of WIF over the past week, the Relative Strength Index (RSI) over the past 7 days has also risen into the overbought territory between 70 and 100, currently at around 85. The Relative Strength Index (RSI) measures price momentum on a scale from 0 to 100.
A reading above 70 indicates that the asset may be in overbought territory and possibly overvalued, suggesting a potential imminent pullback. Conversely, an RSI reading below 30 indicates that the asset is undervalued, suggesting a potential rebound in the near future.
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