Key Takeaways:
- Dogwifhat (WIF) coin has officially been listed on Coinbase following PEPE.
- Following the listing, the coin surged 35.6% in the last 24 hours.
- Market sentiment for the coin is bullish with the Fear & Greed Index indicating “Extreme Greed”.
The famous meme coin, Dogwifhat (WIF) has surged more than 35% in the last 24 hours. The Dogwifhat is a Solana-based meme coin that was launched in the November of 2023. It is a community-driven coin that does not have a specific utility beyond being a meme coin. The coin is highly volatile with its value being heavily dependent on various social media trends. In this article, we will discuss the coin’s sudden spike in the market, the factors that influenced this spike, and how the coin will fare in the coming days.
WIF Token Current Market Standing
The WIF token is currently ranked #26 in the market based on its total market capitalization, which stands at $4.20 billion. The coin is trading at $4.2 with an uptrend of 35.60% in the last 24 hours. The coin’s bull run was initiated on the 11th of this month following the US Presidential Election. At that time, the coin was trading at $2.3108. From there, the coin gradually started gaining momentum until the 13th of this month.
From the 13th onwards, the coin registered a sudden spike in its value that recorded an increase of over $1.8. The coin had been performing well in the market following the US Presidential Election and Trum’s victory. However, at that time, the coin hadn’t registered a spike like this. As the demand for the coin increased over the past day, we may see a further fluctuation in the market in the coming days, especially with the “meme supercycle”.
Coinbase Listing & The Sudden WIF Spike
The notable rally in the market was witnessed by many. This was following the listing of the coin on Coinbase. The news was made public by Coinbase through a post on their X account yesterday, November 13. The news of the WIF’s listing following the PEPE listing has resulted in both the coins skyrocketing in the market.
The coin was on a bullish trend on the market following the presidential election. This announcement has nearly tripled the growth rate of the coin. As the coin’s trading volume increased monumentally at a rate of 127.30%, it even ranked in the day’s top hottest meme coins in the market alongside PEPE and DOGE.
WIF Short-Term Price Prediction
Based on various expert opinions and with the assistance of tie-1 market analysts, we have prepared a short-term price prediction table for the coin. It also shows the potential ROI. If you’re looking to gain insight into the possible future of the meme coin, kindly refer to it
.
| Date | Possible Price | Potential ROI |
|---|---|---|
| 15 Nov, 2024 | $4.21 | 1.75% |
| 16 Nov, 2024 | $4.46 | 4.46% |
| 17 Nov, 2024 | $4.77 | 15.16% |
| 18 Nov, 2024 | $5.14 | 24.30% |
| 19 Nov, 2024 | $5.56 | 34.42% |
While referring to the table, keep in mind the fact that the change in trends in social media can heavily impact the price of the coin in the market.
Is it a good time to buy the WIF token?
The market sentiment of the WIF coin is currently showing a “Bullish” trend. Based on the opinions of various marketing experts, the coin is predicted to rise by 241.85% and reach $14.41 by the end of the first half of December.
The coin has recorded 14/30 days to be trading in green with a Fear & Greed index of 88. This symbolizes “Extreme Greed” with a volatility rate of 11.3% over the last month. As per this forecast, it is a good time to invest in the WIF token.
However, you need to keep in mind that WIF is one of the most volatile tokens in the market. Based on the trends in social media, its value can change at a moment’s notice. So, only invest in the coin after thoroughly analyzing the trends in the market and social media.
