Dogwifhat (WIF): A Popular Meme Coin on the Rise

Dogwifhat (WIF), a widely known meme coin, has been capturing the attention of the cryptocurrency market due to its recent surge in value. Following Coinbase's announcement of listing WIF, the token has experienced significant price movements, reigniting investor interest.

Key Statistics of WIF:

• Current Price: $4.26
• Market Cap: $4.16 billion
• Trading Volume (24h): $3.88 billion
• Circulating Supply: 998.84 million WIF
• Total Supply: 998.84 million WIF
• CoinMarketCap Ranking: #25

Price Fluctuations and Recovery:

WIF has exhibited notable price fluctuations over the past 30 and 7 days. While it has experienced a 20.98% increase from its most recent peak, it has also seen substantial gains of 114.81% and 92.27% from its 30-day and 7-day lows. This demonstrates its ability to recover and grow quickly, indicating renewed traction.

Resistance and Support Levels:

• Resistance: $4.80, $5.20, $5.50
• Support: $3.85, $3.00, $2.62

WIFUSD Market Analysis:

On the USD daily chart, WIF is experiencing a steady upward trend, driven by increased buying pressure. However, the emergence of overbought conditions, as indicated by an RSI of 80, suggests a potential minor retracement.

Elliot Wave Analysis:

WIF could reclaim its all-time high of $4.80, set in March 2024, if it can sustain its momentum. Investors remain optimistic about WIF's potential for further growth.

WIFBTC Performance:

WIF is performing well against Bitcoin (BTC), breaking above the upper Bollinger Band. The RSI of 73.23 indicates overbought conditions, but the underlying bullish trend is expected to continue as long as support levels hold.

Coinbase Listing and Impact:

Coinbase's listing of WIF has revitalized the project's momentum. Open interest has surged over 40%, indicating increased market demand and anticipation.

Alternatives to WIF:

Pepe Unchained ($PEPU), a competing meme coin, has also gained traction following a successful presale. Its focus on Layer 2 scalability and community engagement has attracted investor interest.