Currently valued at $2.34, Dogwifhat (WIF) has shown great resilience in the competitive meme coin space. Despite the high volatility in the sector, the cryptocurrency has managed to withstand the overall cryptocurrency market drop in early October.
WIF Key Statistics
Current Price: $2.34
Market value: $2.4 billion
Volume (24h): $955.88 million
Circulation: 998.8 million WIF
Total supply: 998.8 million WIF
CoinMarketCap ranking: #38
After months of bear market, Dogwifhat token is expected to see a reversal. Previously, the Solana-based meme token fell to lower lows, losing about 54% of its value on the monthly chart after surging in early March. However, the price is expected to rise again soon. Dogwifhat has been stable around $1.5 since mid-September. After a strong bullish rebound, it recorded 56% inflow on its monthly chart, pushing its price above $2.
WIF/USD market analysis
Key Levels
Resistance: $2.90, $3.20, $3.50
Support levels: $2.03, $1.80, $1.50
On the WIF/USD chart, Dogwifhat is trading at $2.34, up +2.22% in the past 24 hours. The Parabolic SAR (Stop and Reverse) indicator is currently below the price action, indicating a bullish trend. Meanwhile, the MACD (Moving Average Convergence Divergence) is showing a clear upward crossover, with the MACD line moving above the signal line, which generally indicates a strengthening of buying momentum.
The price is approaching a critical resistance level at $2.90 and a break above this level could further drive Dogwifhat up. The support level remains solid at $2.03 and as long as WIF remains above this level, it is likely to continue to rise.
Can Dogwifhat capitalize on its Meme Coin hype to push its price above $2.90?
Dogwifhat (WIF) is a meme coin based on the Solana blockchain that has attracted widespread attention with a rapid price increase in April 2024 due to speculation about the possible launch of the Solana ETF. Like other meme coins, it is community-driven and relies heavily on social media to gain popularity. As a speculative asset, WIF is highly volatile and its price movements are affected by market sentiment and the behavior of large investors.
Its strong meme culture and active community suggest that its price could rise if the broader market sentiment remains positive. A breakout above the $2.90 resistance level could open the door for further gains, potentially pushing the price to $3.20 or even higher.
WIF/BTC Performance Insights
Looking at the WIF/BTC chart, the price is currently trading at 0.00003796 BTC, with a daily gain of +0.24%. Similar to the USD pairing, the MACD is showing a bullish crossover, indicating increasing interest and buying pressure on Bitcoin. The Parabolic SAR dots remain below the price action, further confirming the upward momentum. The next resistance level for WIF/BTC is at 0.00004268 BTC, while support is at 0.00003139 BTC.
WIFBTC – Daily Chart
I have a very positive technical prediction for this dog-themed meme coin. According to Faibik’s analysis, WIF has successfully broken out of a descending channel on the daily timeframe, indicating a potential upside of over 170%, which could push WIF to a new all-time high (ATH)
Alternatives to WIF
WIF has recently attracted a lot of attention due to its rapid price surge due to speculation about the possible launch of the Solana ETF. Similarly, Pepe Unchained, a new meme project that combines Pepe the Frog with Layer-2 technology, has also begun to gain viral momentum. The project's presale has exceeded an impressive $16.8 million mark, highlighting its growing popularity among investors.
Pepe Unchained combines meme appeal with real utility, attracting those who believe it has a unique product to offer. The project’s main feature is a new layer 2 network designed specifically for Ethereum that is focused on meme coins, unlike platforms such as Base and Arbitrum. The network will provide ultra-fast transactions and low fees, becoming a central “hub” for meme coin traders and creators.
