Amid the recent correction in first week of April, the Dogwifhat price saw renewed investorinterest and rising social dominance. By Bhushan Akolkar 4 hours ago
Story 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.
Courtesy: Santiment
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.
Best Crypto Exchanges and Apps September 2024 Must Read Top Meme Coins to Buy Now: What You Need to Know Must Read Top 10 Web3 Games To Explore In 2024; Here List Must Read
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.