WIF Surges 16% Amid Las Vegas Sphere Project Expectations – Crypto News – Crypto News
Connect with us
New ATH For WIF? Analyst Thinks It Will Go “Turbo Parabolic” New ATH For WIF? Analyst Thinks It Will Go “Turbo Parabolic”

Blockchain

WIF Surges 16% Amid Las Vegas Sphere Project Expectations – Crypto News

Published

1 year ago

on


Este artículo también está disponible en español.

On Wednesday, Dogwifhat (WIF) led the crypto market with a 16% surge to $1.37, becoming one of the best-performing cryptocurrencies in the last 24 hours. The token swam against the current as most of the top memecoins recorded red numbers, leading analysts to suggest a possible breakout for the token.

Related Reading

Las Vegas Sphere About To Be WIF Hat

Dogwifhat has recovered from yesterday’s drop below the $1 mark following its team’s tease of the long-awaited Las Vegas Sphere project. On Tuesday night, the official Dogwifhat X account shared a picture of its mascot in Las Vegas.

The image included the cute dog with the Las Vegas Sphere as its hat and an old Nokia phone with “01.2025” on its screen. Additionally, the account stated that the “hat stays on,” explaining that dates will be shared “as soon as we are allowed.”

Dogwifhat’s team teased the Las Vegas Sphere project. Source: Dogwifcoin on X

The bullish tease propelled the token back to its recently lost support of $1.30 and reignited the broader community’s interest in the memecoin.

WIF became the memecoin sensation of 2024, reaching an all-time high of $4.88 last March. The token also led the memecoin narrative during Q2 and recovered some of its early glory during the December pump.

However, WIF’s spotlight was eclipsed by the oversaturated memecoin sector and the rise of many other market sensations like PNUT and CHILL, dropping 40% in the last six months and 75% from its ATH.

During its 2,000% growth phase, many crypto investors put their hats on, which prompted a massive fundraising campaign to display the memecoin in the Las Vegas Sphere, the world’s largest LED screen, for a week.

The community raised $700,000 to achieve this dream but was left in the dark over the last several months. In July 2024, many investors expressed concern and frustration about the project after Crypto.com displayed Bitcoin’s logo on the Sphere.

Some community members questioned the project, calling the initiative an alleged scam. However, the organizer repeatedly assured the WIF community that they were working to make “wif on Sphere” happen soon.

Is the Dogwifhat Bottom In?

Crypto analyst Altcoin Sherpa shared his outlook on WIF’s recent performance. He suggested that the pump doesn’t seem “actually real/sustainable” based on the “overall chart/market conditions.”

However, he considers that if Dogwifhat shows some consolidation above the $1.23 mark, it could see another leg up. Meanwhile, crypto trader Bluntz stated that its current levels could potentially be WIF’s bottom.

According to the post, “the major A wave has now been swept” and there are some “nice signs of life forming” in the lower timeframes despite the retrace lasting longer than he anticipated.

The trader previously forecasted an “inevitable” fall to the $1 range, arguing that WIF was headed for a large retrace before the next parabolic run, which could lead to a new ATH.

Related Reading

After the recent performance, Bluntz warned that it is a “very early day, and we haven’t seen a 5-wave rise from the lows ‘yet’, but I think there’s a decent chance one has begun to form.”

Another market watcher also pointed out a one-month falling wedge pattern on WIF’s chart, which targets $1.90 at a “minimum and quickly” if the memecoin breaks out of the upper downtrend line at around $1.40.

As of this writing, dogwifhat trades at $1.21, a 14.4% surge in the daily timeframe.

WIF, WIFUSDT, dogwifhat
Dogwifhat’s performance in the one-week chart. Source: WIFUSDT on TradingView

Featured Image from X.com, Chart from TradingView.com

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending