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In the last 24 hours, dogwifhat ($WIF) has surged by a notable 16% in price as it begins another rebound journey toward the $2 mark. According to CoinMarketCap data, $WIF climbed 16.34% up to $1.34. This upsurge has placed $WIF above all assets in the top 100 coins by percentage gains.
$WIF jumps despite broader market sell-off
Notably, the combined market cap has recorded an average decline of 1.05% within the same time frame. This signals that $WIF is likely experiencing a boost from market participants drawn to the meme coin.
$WIF’s trading volume has soared by 290.91% to $1.11 billion, bolstering the push toward the price retracement to $2. Meanwhile, the meme coin has fluctuated within a low of $0.9783 and a high of $1.37, signaling its potential to reach higher levels.
Interestingly, this rebound move has surprised the broader market, given that $WIF plunged sharply some 36 hours ago. The meme coin had dipped below its $1 support level and hit a low of $0.9897 as it bled red.
However, in a shocking reversal, $WIF has steadily climbed to a higher level. Analysts suggest that if $WIF could sustain the current momentum to breach $1.40 and $1.50 in the ongoing bullish rebound, it might retest the $2 price level.
$WIF outperforms Solana and other meme coins
Dogwifhat is posting this remarkable surge despite the bearish signal with Solana, which is currently down by 2.82%. Despite being a Solana-based meme coin, $WIF has found the bullish path as it seeks to reclaim lost levels.
Other top meme coins like Dogecoin ($DOGE), Shiba Inu ($SHIB) and Pepe ($PEPE) have not seen growth in their price action either. $DOGE is currently trading down by 2.15% at $0.3283.
While $SHIB has declined by 3.29% to $0.00001844, $PEPE shed 2.44% to trade at $0.00001264 on the broader market.
Investors backing dogwifhat would hope that $WIF can sustain the current momentum and not slip to a lower level.