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

Highlights

Dogwifhat investor interest grows as social dominance doubles over the last weekend.
WIF price eyes a rally to $6 after the breakout from its ATH of $4.6.
CoinCodex predicts the Dogwifhat (WIF) price to surge to $17 in the next 18 months.

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.

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Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets.   He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

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