The crypto business has witnessed a powerful bullish comeback over the previous weekend. This has resulted in Bitcoin value and Ethereum value heading towards their essential resistance zones. With this, the crypto area has efficiently recovered its losses and is again on the observe to obtain a brand new all-time excessive (ATH) this 12 months.
Whereas high altcoins acquire traction, the memecoin section has outperformed by recording the best positive aspects in the course of the earlier week. Then again, Dogwifhat value has secured the highlight with its spectacular 31.84% surge inside hours.
Contemplating the current market sentiments, will Solana’s WIF memecoin keep its bullish stance and head towards its excessive of Jan 2025? Furthermore, entrepreneurs have entered right into a FOMO-like state of affairs with questions like “Is that this the best time to put money into cryptocurrency?” and “Is Dogwifhat an excellent funding?”
Dogwifhat Value Retests Its February 2025 Excessive
With a bounce of roughly 30%, the Dogwifhat value at present has turn out to be the best-performing crypto token within the high 100 record. Reportedly, it has witnessed a bounce of 145.36% in its intraday buying and selling quantity to $1.59 billion, 40% greater than its total market cap of $1.13 billion. Following this, it has secured the 74th place out there.
The Relative Power Index (RSI) has breached the overbought vary within the day by day time-frame. Furthermore, its common trendline is now hovering shut to its higher restrict. Contemplating the current sentiments, the WIF memecoin might proceed gaining momentum this week.
Then again, the EMA 50-day acts as a powerful assist to the Dogwifhat value chart within the 1D time-frame. Moreover, the 200-day is on the verge of experiencing a bullish convergence, suggesting a optimistic outlook for the Solana-based memecoin out there.
Will the WIF Memecoin Hit $2 This Week?
Suppose the market continues shifting within the favor of the bulls, this might end result within the Dogwifhat value heading towards its resistance stage of $1.46. Sustaining the value above that stage may push the value of this meme coin towards its higher goal value of $2.
On the flip aspect, if the memecoin section experiences elevated liquidation, the value of Dogwifhat crypto may drop towards its assist zone of $0.875. Assuming that bulls fail to regain momentum at that time, this might lead to WIF memecoin crashing towards its essential low of $0.50 within the upcoming time.
Additionally Learn: Crypto Price Today (May 12, 2025): Bitcoin Briefly Touches $106K, ETH Rally Halts at $2,500; Pi Coin Tops Daily Gainers
