Dogwifhat (WIF/USD) surged 12% on Monday, fueled by bullish predictions from traders. While some are taking profits, others see a potential bull run ahead, with one trader even predicting a $25 price target. The recent listing on SolCex Exchange adds to the excitement surrounding the meme coin.
Dogwifhat (WIF) has surged 26% in the past week, following its rival Shiba Inu (SHIB). A major WIF holder borrowed $2 million USDC to buy 894,854 WIF, boosting their holdings to $71 million. Meanwhile, Binance users have been buying WIF, leading to outflows from the exchange. Traders are bullish on the token, with some predicting a repeat of its February surge.
Memecoins experienced a strong rebound on Monday, fueled by gains in Solana-based tokens like Dogwifhat and Popcat. The broader cryptocurrency market also rallied on Labor Day, with Bitcoin and Ethereum trending upwards. However, market sentiment remains in “Fear” according to the Cryptocurrency Fear & Greed Index.
Leading memecoins like dogwifhat and Pepe experienced significant declines on Tuesday, mirroring the broader cryptocurrency market downturn. The dog-themed dogwifhat saw a 13.38% drop in price, while Pepe, a frog-themed coin, lost over 10%. This decline was attributed to a larger market pullback that affected Bitcoin and Ethereum, leading to over $319 million in liquidations.
An anonymous investor, Dogwifhat’s largest holder, is actively accumulating the meme coin, potentially indicating a bullish future for the token. The whale’s recent large-scale investments have already generated over $68 million in profit, fueling speculation about a price breakout.
Despite a broader cryptocurrency market dip, Floki and Dogwifhat emerged as top performers on Tuesday, defying the downtrend. The Solana-based WIF and Ethereum-based FLOKI tokens saw significant gains, fueled by increased trading volume and positive developments, including Floki’s partnership with the English Premier League.
The frog-themed meme coin Pepe has soared by 17% in the past 24 hours, fueled by a surge in whale transactions. This rally brings Pepe closer to the valuation of its canine counterpart, Dogecoin, and pushes it into the top three meme coins by market cap. Analysts have attributed the move to a breakout from a one-day downtrend and a potential continuation of the bullish trend.
