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Robinhood Lists Dogwifhat, WIF Price To $5?

Robinhood lists Dogwifhat (WIF), boosting its price to $3.6. Trading volume rose 50%, signaling strong market interest and potential for $5.
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Robinhood Lists Dogwifhat, WIF Price To $5?

Highlights

  • WIF price surged 7% after being listed on Robinhood, signaling increased investor confidence.
  • Robinhood’s limited crypto offerings now include WIF Coin, boosting meme coin market visibility.
  • Technical indicators signal bullish momentum, with BBP at 0.2377 and RSI in oversold territory, suggesting potential price growth.

Robinhood has added Dogwifhat (WIF), a Solana-based meme coin, to its cryptocurrency trading options, generating considerable excitement among traders and investors. Known for its limited crypto offerings, Robinhood’s inclusion of WIF signals the growing acceptance of meme coins within mainstream trading platforms. Following the announcement, WIF price surged by over 13% within an hour, reaching a weekly high of $3.655 before consolidating.

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Dogwifhat WIF Price Could Hit $5 as Robinhood Expands Crypto Offerings

Following a recent announcement, Dogwifhat (WIF) on Robinhood’s platform has sparked optimism regarding the meme coin’s future price trajectory. This marks a notable expansion in Robinhood’s crypto portfolio, which has historically included only a few carefully selected cryptocurrencies. WIF is the second meme coin added by Robinhood this month, following the listing of Pepe, another highly popular project.

The WIF price reached a peak of $3.655 after the announcement, reflecting increased trading activity and market interest. Experts suggest that if WIF breaks key resistance levels around $3.75, it could see further growth. If the bullish sentiment persists, market analysts project a potential rise to $5.

Data from CoinMarketCap indicates that Dogwifhat experienced a 50% rise in trading volume within 24 hours of the Robinhood announcement. This surge in activity reflects heightened interest among investors and traders. The coin’s open interest also climbed by 9%, signaling strong participation in futures and options markets.

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Technical Indicators Support The Possibility of Further Growth 

The Stochastic RSI on the chart indicates that the asset recently experienced overbought conditions near 80 and has since dropped to the 11-12 range, signaling oversold levels. This suggests a potential for a bullish reversal with current momentum. 

Source: TradingView

The Bull and Bear Power (BBP) indicator also shows positive momentum at 0.2377, suggesting bulls maintain control despite recent corrections. The bullish histogram reflects strong buying interest.

Robinhood’s decision to list Dogwifhat highlights the evolving role of top meme coins in the cryptocurrency market. Meme tokens like WIF have historically attracted new investors during bullish market conditions. With growing cryptocurrency options, Robinhood’s endorsement of WIF indicates increasing confidence in the meme coin sector.

Dogwifhat’s market capitalization is now $3.3 billion, making it the fifth-largest meme coin by valuation. This follows a recent analysis that highlights WIF price potential to hit its all-time high (ATH) this week.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

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