- Robinhood’s listing of Dogwifhat (WIF) has driven increased market interest and a surge in price, highlighting meme coins gaining mainstream traction.
- Technical indicators suggest WIF could continue rising, with analysts forecasting a potential price target of $5 if key resistance levels are broken.
Targeting Coinbase, Robinhood’s Dogwifhat Listing Drives WIF Token to $1. As shared in a recent CNF update, Robinhood has expanded its cryptocurrency offerings by adding Dogwifhat (WIF), a Solana-based meme coin.
This move marks Robinhood’s growing interest in the meme coin space, having recently listed Pepe as well. As announced via a recent tweet, “GM, Dogwifhat ($WIF) is now available to trade on Robinhood Crypto.”
GM. dogwifhat ($WIF) is now available to trade on Robinhood Crypto. pic.twitter.com/grjjXidNzo
— Robinhood (@RobinhoodApp) November 25, 2024
WIF’s technical indicators point to potential growth. The Stochastic RSI suggests oversold conditions, signaling a possible price rebound.
Additionally, the Bull and Bear Power (BBP) indicator shows positive momentum at 0.2377, reflecting strong buying interest. Futures and options markets also saw a 9% increase in open interest, underlining heightened participation.
Meme Coins Gain Ground in Mainstream Markets
Previously, the Dogwifhat NFT Sale sparked a 60% rally in WIF’s price, as revealed in a CNF update. Robinhood’s listing of WIF underscores the growing acceptance of meme tokens in mainstream trading platforms. With a market cap of $3.3 billion, WIF is now the fifth-largest meme coin by valuation.
As Robinhood continues to diversify its crypto portfolio, investor confidence in the meme coin sector appears to be strengthening, positioning WIF for further growth.
Following the announcement, WIF’s price surged. Market analysts suggest WIF could rise to $5 if it breaks resistance around $3.75 and maintains bullish momentum. Dogwifhat (WIF) is currently trading at $3.34, having surged by 3.78% in the past day and 1.71% in the past week.
