- A crypto analyst predicts Dogwifhat (WIF) will surge towards $3, showing strong bullish potential.
- Dogwifhat (WIF) outperforms major meme tokens like Dogecoin and Shiba Inu in recent gains.
The recent rise in the price of Bitcoin (BTC) above $57,000 has sparked interest in a variety of other tokens, including Dogwifhat (WIF).
This dog-themed meme token has closely followed BTC’s upward trajectory, but with even higher percentage gains. WIF is currently trading around $1.73, having increased by 25.81% over the last 24 hours. WIF’s daily trade volume has soared to $772.91 billion.
Dogwifhat Outperforms Major Meme Tokens and Signals Potential Bullish Surge
Furthermore, WIF has emerged as one of today’s top meme token gainers, outperforming key competitors like Dogecoin (DOGE), Pepe Coin (PEPE), and Shiba Inu (SHIB).
Crypto analyst CryptoJack believes that Dogwifhat’s strong performance points to the possibility of a bullish surge. In the chart he shared, WIF’s price made a fake breakout from a critical support level before immediately re-entering the trading range.
There was a fake breakout below support for $WIF but it quickly came back inside the range.
I expect #dogwifhat to pump all the way to $3 from here. pic.twitter.com/Pern5Nkm9h
— CryptoJack (@cryptojack) August 7, 2024
CryptoJack believes Dogwifhat has the ability to explode to $3, just above the nearest strong resistance level. This prediction is based on WIF’s most recent price action and market momentum.
On the other side, on August 4, CNF reported a 28% drop in Dogwifhat Open Interest (OI) due to pessimistic sentiment. During that time, five wallets sold 14.53 million WIF tokens, making more than $69 million.
Meanwhile, as we previously highlighted, competitor meme coin POPCAT has had a big rise, lately moving to the top of the gainers list, just ahead of WIF. This cat-themed coin is currently on track to reach $1 as its next bullish milestone.
As both tokens continue to perform well, the crypto market is alive with speculation and curiosity, with many investors keeping a close eye on the changes and possible gains in the meme token sector.
