Dogwifhat (WIF), a meme-inspired cryptocurrency on the Solana blockchain, has surged by 47% in the past day, hitting a record high of $0.571.
As of now, WIF has risen by 44.41% to $0.543. The price surge of Solana’s “Shiba Inu” Dogwifhat in the last day coincides with a 6% uptick in Bitcoin’s price.
Bitcoin and Solana Lead Market Surge
Bitcoin Hits $57,000 Milestone: Bitcoin, the leading cryptocurrency by market value, has reclaimed the $57,000 level for the first time since late 2021. Its price has surged by 32% since the start of the year, fueling a prolonged rally that has sparked speculative interest in alternative coins.
Solana’s SOL Joins Rally: SOL, the native token of the Solana blockchain, where WIF resides, has also surged in tandem with the overall market rally. It has risen by 8% to reach $111.43 at the time of writing.
Meme Coin Frenzy: The market surge has ignited significant interest among traders, particularly in meme coins. According to CoinMarketCap data, the top meme tokens by market capitalization collectively surged by 9.1% in the last 24 hours, reaching a total market cap of $24.45 billion. Among them, Dogwifhat (WIF) saw the most significant jump, soaring by 47%, while Pepe experienced a 50% price increase.
WIF’s Surge and Trading Volume: WIF’s 24-hour trading volume has surged by 210% to $119.6 million, mirroring its impressive price surge.
Dogwifhat (WIF) Continues Weekend Surge
Notably, WIF continued its upward trajectory over the weekend, rebounding from a low of $0.285 on Feb. 24. The bullish momentum propelled it on a four-day run, surpassing the $0.531 barrier set on Jan. 18 and shattering WIF’s previous all-time high.
With WIF’s price reaching new all-time highs, its future trajectory becomes less predictable. A sustained break above its current all-time high of $0.571 could potentially propel it into the $0.6 region.
Alternatively, WIF may seek intermediate support around the prior barrier of $0.47 as it navigates this new price territory.
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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