DogWifHat Price Prediction as WIF Becomes Best-Performing Meme of the Week – Time to Buy?
WIF has jumped by 39% in the past 24 hours, with the DogWifHat price surging to $2.09 on a day when the crypto market gains by a very modest 0.3%.
WIF has been on fire pretty much all week, with the Solana-based meme coin posting a 180% increase in seven days, a 500% rise in a fortnight and an 860% surge in a month.
The coin has also exploded by just over 130,000% since December, making it the best-performing top-100 coin over this period.
And with WIF only gaining more momentum in recent days, it could see further gains in the near term.
WIF has also risen by 2% in the past hour, with its chart signalling some good rising momentum after a pronounced dip earlier in the week.
The coin’s relative strength index (purple) had dropped as low as 45 a few days ago, yet it has now risen back above 60, with more room for further gains.
Similarly, WIF’s 30-day average (yellow) has resumed rising vigorously again after a comparable dip, with its ascent suggesting that the coin remains in a pronounced expansionary phase.
The token’s trading volume also supports this view, given that it remains at around the $1 billion level, up from $130 million a week ago and $25 million a month ago.
It therefore seems that whales have begun buying up the coin in bigger quantities, with the catalyst for this growth being yesterday’s news that Binance will list WIF.
Binance launched $WIF perpetual on Jan 18 and listed $WIF today!
binance-insider.sol has bought a total of 37.5M $WIF($67.5M currently) at $0.25, and became the 2nd holder of $WIF.
The unrealized profit is ~$58M! pic.twitter.com/EpKMsV7N25
— Lookonchain (@lookonchain) March 5, 2024
Given Binance’s move, it’s possible that other major exchanges may follow suit and list WIF in the coming days or
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