Solana-Based Memecoin dogwifhat [WIF] Has Experienced a Surge in Prices and Market Cap

Over the past month, WIF prices have surged from $2.18 to $2.59, while the market cap has surged from $1.57 billion to $2.49 billion.

Solana-based memecoin dogwifhat [WIF] has experienced a surge in prices and market cap over the last 30 days. Over the past month, WIF prices have surged from $2.18 to $2.59, while the market cap has surged from $1.57 billion to $2.49 billion, according to Coincodex.

WIF prices surge

The current surge has excited the crypto community, with crypto analysts speculating and betting big. For instance, Team Lambo Charts on X shared the altcoin’s prospects while predicting an upcoming rally, stating that,

“$WIF has bounced off the support, and we have done an 80% so far! Now we need a breakout above 2.9$ for the target 10$, and it’s possible mid-term off here!”

Source: X

Based on this analysis, since WIF has made a 30% bounce off the lower trendline, it will hit $2.8 to $5 in the shorter term. Such a sustained uptrend will further push the prices to $10 in the long run.

Source: X

Further, Smith shared his optimism about the current market momentum, predicting further growth in the market cap. Through his X page, he noted that,

“Huge move to the upside soon. $6b+ target before Oct/Nov. $wif will lead this ”meme coin super cycle” to valhalla.”

Source: Forbes

According to Forbes, dogwifhat has been the best-performing meme-coin throughout 2024.

In 2024, WIF has made an exceptional performance with a 1306% surge. Therefore, with these sustained rises, WIF’s market cap is well positioned for further growth.

What WIF price chart suggests

AMBCrypto’s analysis shows WIF is experiencing a strong uptrend momentum over the past weeks.

As of this writing, WIF’s Awesome Oscillator (AO) was positive at 0.57, suggesting that 5 period SMA is above 34 period SMA, indicating upward momentum.

Source: Tradingview

Additionally, the MACD line was positive at 0.15, indicating a positive momentum since short-term EMA is above long-term EMA.

Equally, the Aroon line further proves this as the Aroon-UP line 78.57% sits above Aroon-down at zero. When the asset is set this way, the upward momentum is strong enough and well-positioned to continue.

Finally, according to coinglass, WIF has experienced a rising open interest over the past month. The altcoin’s open interest has increased from a low of $194.26 million to a high of $374 million in 30 days.

This shows investors are willing to pay premium and hold their positions, suggesting confidence in the crypto’s future potential.

Is your portfolio green? Check the WIF Profit Calculator

Can WIF sustain the uptrend?

As of this writing, WIF was trading at $2.54 after a 12% surge over the last seven days. If the memecoin maintains the upward momentum, it can reach $2.916 in the short run.

Achieving this level will push the altcoins towards $3.5 in the shorter term. With a sustained bullish momentum, dogwifhat will attempt to challenge the next resistance level around $4.13.

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