Dogwifhat: Is the Meme Coin Rally Still Going?
Dogwifhat (WIF/USD) has been on a tear lately, surging 11% in the past 24 hours and 48% in the last week. Traders are buzzing about the coin, and some think there’s still room for more upside.
Altcoin Sherpa, a well-known trader, believes Dogwifhat’s current area is crucial. He thinks if the price breaks $2.50, it could move back into the trading range between $2.40 and $3.00. However, he acknowledges that it’s hard to tell what the price levels might be in that area, especially if Bitcoin’s price starts to wobble.
Other traders are also optimistic. One trader pointed to the price retaking the $2.2 level as a key sign that Dogwifhat could continue to move higher. This trader also outlined several key price zones to monitor.
So what’s driving Dogwifhat’s recent rally? Some experts think it’s part of a broader resurgence in meme coin interest. With Dogecoin (DOGE/USD) and Shiba Inu (SHIB/USD) also seeing gains recently, some believe the meme coin supercycle might be back.
But it’s not just the meme coin hype that’s boosting Dogwifhat. Some traders see the coin as a solid asset with strong fundamentals. One trader noted that the price action up to $5 looks like accumulation, not the top of the cycle. Another trader praised Dogwifhat’s strength, calling it a “relatively strong asset” and noting that it’s held up well even on shorter timeframes.
It remains to be seen whether Dogwifhat can continue its impressive run. However, the coin’s recent price action and the bullish sentiment surrounding it suggest that there’s still plenty of interest in the meme coin space.
