Solana memecoin Dogwifhat (WIF) is back in the top 50 cryptocurrencies by market cap after a 55% surge in the past week.
At the time of writing, the price of 1 WIF token is around $2.45. The price has increased by almost 9 percent in the past 24 hours alone, making it the second best performing cryptocurrency today.
WIF’s performance is all the more remarkable considering that almost all other memecoins are suffering significant losses today.
A crucial price point for Dogwifhat
The question many traders are asking themselves now is what to expect from the Dogwifhat price. Crypto analyst Altcoin Sharper emphasizes that $2.50 is a crucial level.
If WIF manages to break this barrier, the future looks bright and the price could potentially rise to $3.00. However, he warns that this will only happen if Bitcoin continues to behave stably.
Memecoins to Remain Popular in 2024
Memecoins are extremely popular this year. The sentiment around memecoins will remain positive in 2024, according to a recent report from CoinGecko, which considers memecoins one of the most important trends of the year.
Memecoins have emerged as one of the biggest trends in the crypto industry in 2024, with an average return of 1,312% among the top tokens by market cap.
These impressive numbers underscore the appeal of memecoins and their potential for high profits, making them a hot topic among investors.
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Source: https://newsbit.nl/dogwifhat-wif-bereikt-nieuwe-maandelijkse-hoogtepunt-na-55-prijsstijging/
