Dogwifhat (WIF) saw a record-breaking surge in March, with its market cap surpassing $3 billion, approaching PEPE’s valuation. Technical signals hint at a potential bullish trend for WIF.
Dogwifhat (WIF) experienced a remarkable surge in price during March, hitting an all-time high and exciting investors. Recent speculation indicates that WIF might soon outperform PEPE, hinting at further gains for the cryptocurrency.
Dogwifhat Threatens PEPE’s Position as Top Meme Coin
The surge in Dogwifhat (WIF) price has sparked concerns among PEPE investors as WIF’s total market value exceeds $3 billion, gradually approaching PEPE’s valuation.
Currently, Dogwifhat’s market value sits at $3.17 billion, while PEPE’s total market value stands at $3.36 billion.
Should this trend continue, PEPE risks losing its position as the world’s third-largest meme coin, with WIF on Solana poised to take its spot and potentially challenge SHIB and DOGE.
Technical indicators suggest that WIF may be initiating a bullish trend. The Relative Strength Index (RSI), indicating momentum and price movement speed, remains in the bullish zone.
Additionally, the Moving Average Convergence Divergence (MACD) indicator suggests a potential upward movement, typically signaling a trend reversal or continuation.
These indicators fuel expectations of further price increases for WIF, potentially altering the meme coin landscape significantly.
Dogwifhat’s Potential Price Trajectory Amidst Market Fluctuations
At the time of writing, Dogwifhat (WIF) was trading at $3.08, having recently dipped from its peak of $3.24 within the past 24 hours. Should the upward momentum resume, WIF could surpass PEPE coin, with its price likely to continue rising in the process.
During this period of potential price escalation, WIF could surge to $3.50 and further accelerate its ascent to various levels. However, if the ongoing pullback persists, the meme coin might decline to $2.73.
This emerging support level at $2.73 coincides with the 50-day Exponential Moving Average (EMA). A breach of this support level could result in WIF dropping to $2.50, indicating a significant downturn in its price trajectory.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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