others

Dogwifhat (WIF) Price Jumps 15% Eyeing Trend Reversal to New All-Time High – Crypto News

Published

2 years ago

April 8, 2024

Dripp

Solana-based popular meme coin Dogwifhat (WIF) has surged 15% in the last 24 hours reversing its price trajectory and moving towards its new all-time high above $4.60. This healthy bounceback comes after a week of WIF price correction in April. As of press time, the Dogwifhat (WIF) price is trading at $4.14 with a market cap of $4.13 billion. Moreover, the daily trading volume has also surged by 35% to more than $615 million.

Investor Interest in Dogwifhat Growing Again

Interestingly, after a week of consolidation, current media trends indicate that WIF may have reached a potential turning point. Santiment’s Social Dominance metric gathers data from various media platforms to track the level of media traction surrounding a specific cryptocurrency project.

Following the excitement surrounding WIF’s remarkable 505% price rally in March 2024, media attention on the project declined in the first week of April. However, in the last 48 hours, WIF’s social dominance has doubled from 0.04% to 0.08%. This suggests that after a week of stagnant price action, Dogwifhat has begun to regain media attention.

The WIF Price Action

Regarding recent price movements, the value of WIF experienced a notable increase of 505% from March 1 to March 31. However, it encountered a subsequent pullback of 33.9% from April 1 to April 6.

For now, the immediate price resistance for Dogwifhat is $4.60 in the near term. However, if the bulls manage to absorb the selling pressure at this point, we could be seeing a decisive breakout in the WIF price to $6 and even more.

Since its inception last year December 2023, the Dogwifthat price is already trading at over 2,300% gains. A prominent on-chain metrics and price forecasting company has offered an optimistic outlook for the WIF token. According to a new forecast by CoinCodex, the Dogwifhat cryptocurrency could potentially reach $17 in market indices. The projection suggests that WIF’s trading range in 2025 could vary between $3.68 and $17.43.

The forecast highlights a potential high of $17 and a low of $3.6 for WIF. Achieving a price of $17 would signify a surge of approximately 325% from its current value of $4.