The crypto industry has witnessed a strong bullish comeback over the past weekend. This has resulted in Bitcoin price and Ethereum price heading toward their crucial resistance zones. With this, the crypto space has successfully recovered its losses and is back on the track to achieve a new all-time high (ATH) this year.
While top altcoins gain traction, the memecoin segment has outperformed by recording the highest gains during the previous week. On the other hand, Dogwifhat price has secured the spotlight with its impressive 31.84% surge within hours.
Considering the present market sentiments, will Solana’s WIF memecoin maintain its bullish stance and head toward its high of Jan 2025? Moreover, marketers have entered into a FOMO-like situation with questions like “Is this the right time to invest in cryptocurrency?” and “Is Dogwifhat a good investment?”
Dogwifhat Price Retests Its February 2025 High
With a jump of approximately 30%, the Dogwifhat price today has become the best-performing crypto token in the top 100 list. Reportedly, it has witnessed a jump of 145.36% in its intraday trading volume to $1.59 billion, 40% more than its entire market cap of $1.13 billion. Following this, it has secured the 74th position in the market.
The Relative Strength Index (RSI) has breached the overbought range in the daily time frame. Moreover, its average trendline is now hovering close to its upper limit. Considering the present sentiments, the WIF memecoin may continue gaining momentum this week.
On the other hand, the EMA 50-day acts as a strong support to the Dogwifhat price chart in the 1D time frame. Furthermore, the 200-day is on the verge of experiencing a bullish convergence, suggesting a positive outlook for the Solana-based memecoin in the market.
Will the WIF Memecoin Hit $2 This Week?
Suppose the market continues moving in the favor of the bulls, this could result in the Dogwifhat price heading toward its resistance level of $1.46. Maintaining the price above that level could push the price of this meme coin toward its upper target price of $2.
On the flip side, if the memecoin segment experiences increased liquidation, the price of Dogwifhat crypto could drop toward its support zone of $0.875. Assuming that bulls fail to regain momentum at that point, this could result in WIF memecoin crashing toward its crucial low of $0.50 in the upcoming time.
Also Read: Dogwifhat’s Iconic Pink Hat Goes to Auction for First Time Ever
