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Dogwifhat (WIF) Price Surges 21% On Way To Hit New All-Time High

Having surpassed the downtrend resistance and maintaining its position above it, Dogwifhat price is poised for new all-time highs going forward.

Published by

Bhushan Akolkar

Updated 04 May, 2024 | 02:33:49 PM UTC

Dogwifhat (WIF) Price Surges 21% On Way To Hit New All-Time High

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 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.

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.

Published by

Bhushan Akolkar

Updated 04 May, 2024 | 02:33:49 PM

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