Dogwifhat (WIF) has taken the spotlight in the crypto market with a massive 17% spike, outpacing popular meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and others in terms of daily gains. While broader market activity showed a mild rebound, WIF emerged as the top performer among the top 100 cryptocurrencies.
Currently trading just below $1, WIF’s market capitalization soared to nearly $1 billion, pushing it past FLOKI to become the eighth-largest meme coin. This surge aligns with a major spike in WIF’s trading volume, which topped $510 million in 24 hours—eclipsing activity on major altcoins such as TRX, ADA, and HYPE. The sharp increase in volume highlights growing investor interest.
WIF, a dog-themed meme coin launched on the Solana blockchain in late 2023, started as a low-priced token but quickly became a crypto sensation. It hit an all-time high of nearly $5 and reached a market cap exceeding $4.5 billion. The token’s popularity has been boosted by listings on top-tier exchanges like Binance, Coinbase, and Kraken, and endorsements from high-profile figures like Arthur Hayes.
Analyst Insights: What’s Next for WIF?
Crypto analysts remain bullish. The pseudonymous X user Coinvo called the move a “classic break and retest” pattern, hinting at an incoming parabolic rally. Another popular analyst, Sjuul, noted that WIF’s structure “is not looking bad” and predicted a move above $1.45 in the near term.
However, traders should remain cautious. WIF’s hourly Relative Strength Index (RSI) has reached 71, signaling overbought conditions that could lead to a short-term price pullback. Given the high volatility typical of meme coins, both short-term traders and long-term investors should monitor technical indicators closely.
