Trending memecoin, Dogwifhat (WIF), has once again gained momentum as its price surged by more than 19% in the last 24 hours amid the global crypto market rally. The token has exhibited impressive growth since its launch in December 2023, positioning it as one of the top memecoins by market cap.
Dogwifhat begins the week in green
In an exciting turn of events, Dogwifhat (WIF), one of the most popular memecoins right now, has experienced a price increase of 19.3% over the last day. Consequently, the token now trades at $4.20 which is slightly below its all-time high of $4.60 attained during the last bull run in March.
Notably, the rally which comes shortly after a period of price correction at the beginning of April, coincides with the growing price of Bitcoin and the majority of the cryptocurrencies in the market. Today, April 8, the global crypto market cap has surged significantly by 3.8% to 2.68 trillion. Bitcoin (BTC) now trades above $72k and ETH, the second-largest cryptocurrency by market cap rests above $3,600.
Meanwhile, Santiment, a crypto intelligence tool, has reported that there was a dip in WIF’s media attention during the first week of April following the 505% price rally in March 2024. Nonetheless, WIF’s social influence has increased from 0.04% to 0.08% over the past 48 hours. This implies that Dogwifhat has started to garner media attention again following a week of unchanged price behavior.
Dogwifhat (WIF) price today
According to data from CoinMarketCap, Dogwifhat (WIF) is now trading at 17% above its price the previous day. Per the statistics, WIF is changing hands at $4.19 at the time of writing. In hindsight, WIF has surged by a remarkable 100% in the last 30 days and by 2,394% since its inception.
What is more, the activities surrounding WIF as shown in its trading volume, have surged by 42.5% over the last day, raising its market cap to 16.41% to more than $4 billion. Dogwifhat continues to maintain the #3 position on the largest memecoin by market cap list just behind Dogecoin (DOGE), and Shiba Inu (SHIB).
Ultimately, the Dogwifhat community hopes for a further price movement that will potentially shoot the value of the token above its previously set high. Predictions from top analysts suggest that we might see a breakout rally up to the $6 mark. Whether this will happen or not depends on the sentiment surrounding the coin and also the emotions of investors in the crypto market.
Also Read: Dogecoin Whale Transfers Massive 204 Million DOGE From Binance, Possible Price Impact?
