DogWifHat Price Prediction as WIF Targets $1 Billion Market Cap – Can it Overtake Shiba Inu?
The DogWifHat price has erupted by 41% in the past 24 hours, surging to $0.7766 as the crypto market enjoys a 3.5% gain today.
WIF actually touched a new record high of $0.7975 barely an hour ago, and while it has dipped by 2.5% since then its momentum remains exceedingly good.
It’s currently up by a whopping 129% in the past week and by 147% in the last 30 days, with earlier whale purchases largely responsible for such gains.
And with the token not too far from reaching a market cap of $1 billion, WIF could see further increases in the near future.
There’s no doubt that WIF is probably the most bullish coin in the top-200 today, with its indicators all firing strongly.
Its relative strength index (purple) is nearly touching 80, a sign of intense buying pressure, but also arguably a sign that it should correct soon.
At the same time, its current price has jumped way beyond its 30-day average (yellow), which is itself rising again in a sign that the coin has recently entered a growth spurt.
Its trading volume is also bullish at the moment, rising to $125 million today after being as low as $30 million less than a week ago.
As noted above, the underlying reason for this spike is that a few whales began accumulating WIF a few days ago, as indicated by recent transfer data.
The price of $WIF increased by ~50% today!
A smart trader spent 4,900 $SOL($539K) to buy 1.43M $WIF the day before the $WIF price increased.
He has spent 14K $SOL($1.54M) to buy 4M $WIF since Feb 16 and the current unrealized profit is ~$582K.
The smart trader had made 1,443… pic.twitter.com/rUsq152S9u
— Lookonchain (@lookonchain) February 27, 2024
The thing with WIF is that, as a ‘pure’ meme token with no utility, it may just as easily crash back down once whales
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