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- A crypto analyst predicts Dogwifhat (WIF) will surge towards $3, showing strong bullish potential.
- Dogwifhat (WIF) outperforms major meme tokens like Dogecoin and Shiba Inu in recent gains.
The recent rise in the price of Bitcoin (BTC) above $57,000 has sparked interest in a variety of other tokens, including Dogwifhat (WIF).
This dog-themed meme token has closely followed BTC’s upward trajectory, but with even higher percentage gains. WIF is currently trading around $1.73, having increased by 25.81% over the last 24 hours. WIF’s daily trade volume has soared to $772.91 billion.
Crypto analyst CryptoJack believes that Dogwifhat’s strong performance points to the possibility of a bullish surge. In the chart he shared, WIF’s price made a fake breakout from a critical support level before immediately re-entering the trading range.
There was a fake breakout below support for $WIF but it quickly came back inside the range.
I expect #dogwifhat to pump all the way to $3 from here. pic.twitter.com/Pern5Nkm9h
— CryptoJack (@cryptojack) August 7, 2024
CryptoJack believes Dogwifhat has the ability to explode to $3, just above the nearest strong resistance level. This prediction is based on WIF’s most recent price action and market momentum.
On the other side, on August 4, CNF reported a 28% drop in Dogwifhat Open Interest (OI) due to pessimistic sentiment. During that time, five wallets sold 14.53 million WIF tokens, making more than $69 million.
Meanwhile, as we previously highlighted, competitor meme coin POPCAT has had a big rise, lately moving to the top of the gainers list, just ahead of WIF. This cat-themed coin is currently on track to reach $1 as its next bullish milestone.
As both tokens continue to perform well, the crypto market is alive with speculation and curiosity, with many investors keeping a close eye on the changes and possible gains in the meme token sector.