The superstate memecoin dogwifhat has once again broken records and is shaking up the market!
After becoming the first major meme token to surpass the $1 mark, WIF has now crossed $2! And now the question on everyone’s mind … can WIF reach $3 and potentially set its sights on $5?
Let’s dive into the details –
From Hitting $1 to Crossing $2.23
With an unimaginable 222% surge in a single week, Dogwifhat has made heads turn. After crossing the landmark $1 milestone, WIF has surpassed the $2 limit and hit a new all-time-high of $2.23 in the past 11 hours.
The reason that significantly fuelled dogwifhat skyrocketing past $1 is becaus its listing on Binance, triggering a 25% surge within an hour.
Additionally, anticipation surrounding its listing on Robinhood adds fuel to the fire, with rumors of more centralized exchanges listing WIF.
Other reasons that can be attributed to this landmark victory is positive community response, and huge whale activities, along with traders influencing the crypto community to make profits from this (then potential) winner.
Analyzing the Potential for $3 and $5
At the time of writing, Dogwifhat’s current market cap stands at $1.8 Billion, and a 21.60% increase would bring it in line with BONK’s $2.2 billion.
While Dogwifhat’s liquidity and market cap signal a strong position, predicting a swift climb to $3 requires careful consideration. Its ongoing bullish momentum, with 20 positive candles in the last 30 days, suggests growing investor confidence.
What’s more is that, after positive speculations have not yet cooled down, and dogwifhat is soon going to be listed on Robinhood as well. Hence, we can expect more traders to take the opportunity now at a lower price which can spike up dogwifhat’s price up to $3 and even $5.
But.. is $5 too much?
In short, no one knows for sure. Here’s why.
Because of WIF’s impressive performance and steep bullish run in the past couple of weeks, the $5 mark seems to be possible. However, speaking of evidence, there is no strong fundamentals. What’s fun is that the dogwifhat’s whole price surge is driven by stronger speculations than fundamentals. Technical indicators, such as the daily RSI nearing 90, raise questions about the coin’s overextension.
dogwifhat has become a superstar stealing global spotlights! Becoming the first meme coin to reach $1, and not cross $2, and surpassing its senior, Musk’s dogecoin who failed to reach $1 in so many years, dogwifhat (WIF) is expected to reach $3 soon, and probably $5 by the time its listed on Robinhood.
