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Highlights
- Dogwifhat price breaks the downtrend trendline setting the stage for new all-time highs.
- The Solana-based memecoin has been on investors radar in recent times.
- Arthur Hayes tweets, Omar the octopus says “the hat stays on”.
Currently, there is a robust rally occurring in the meme coin sector, with Dogwifhat (WIF), the world’s fourth-largest meme coin, surging by an additional 21% in the last 24 hours. At present, the price of Dogwifhat (WIF) stands at $3.35, accompanied by a market capitalization of $3.35 billion. Moreover, the daily trading volume has surged by 44% to reach $565 million.
Dogwifhat (WIF) Price Surge to New ATH?
During the last month of March, the Dogwifhat (WIF) price rallied all the way to $4.9 following a mega bull run taking place this year in 2024. The WIF price rally has captured the attention of the global crypto community as it occupies a space among the top 50 cryptocurrencies by market cap, just a few months from going live for trading. Its recent listing on Bybit has been successful, hitting a price of $41.
However, in the four weeks of April, the WIF price retraced significantly experiencing some sort of volatility in the market. Now, with a strong bounce back, Dogwifhat has managed to break through the downtrend, setting up the stage towards its new all-time high levels.
#WIF $WIF is continuing its upward trend just as we anticipated. By breaking the resistance of the downtrend and holding above it, we've set ourselves up to expect new all-time highs from this point forward.#dogwifhat #dogwifcoin #wifusdt #wifusd #wifbtc #btc #Bitcoin $mew… https://t.co/oHeeMNhLj1 pic.twitter.com/GGpiK57Cvw
— benjamin (@benjaminxbt) May 4, 2024
WIF emerges as the newest addition to the array of dog-themed meme coins on the Solana blockchain. Its website humorously states its simplicity, describing itself as “literally just a dog wif a hat.” Lacking utility, the community has resorted to guerrilla marketing tactics to enhance the token’s value. Presently, the project’s ambition is to have its furry mascot prominently displayed on the Las Vegas Sphere.
Venture capital firm Stratos recently revealed that it has minted more than 300x in profits from its investment in Solana meme coin Dogwifhat (WIF). The California-based company made its investment in WIF back in December when the token was priced at approximately $0.01. Remarkably, it has retained its entire WIF holdings, despite the significant surge in value, with WIF now trading at $3.43. As reported by CoinGape, the WIF price can rally all the way to $10 in May.
Arthur Hayes Supports WIF
Arthur Hayes, the founder of the crypto exchange BitMEX has recently tweeted in favour of Dogwifhat. citing Omar Orson Octopus, the deutagonist and male protagonist of the Disney/Pixar movie Primrose Path.
Omar the octopus says “the hat stays on”. pic.twitter.com/gyQQlsGTTc
— Arthur Hayes (@CryptoHayes) May 4, 2024
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