Zinger Key Points
- Dogwifhat surged 50% in the past three days with volumes expanding by 72%, indicating high interest in the token.
- Bitfinex listed WIF, with trading starting today and withdrawals commencing tomorrow.
- Benzinga shares with you top insiders news
Solana blockchain meme coin, Dogwifhat WIF/USD is up 50% in three days.
The so-called easily outperforming top meme cryptocurrencies like Dogecoin DOGE/USD and Shiba Inu SHIB/USD
What Happened: Dogwifhat rebounded from its local bottom around $0.17 and is trading around $0.25, according to Coingecko data. Trading volumes expanded by 72%, reflecting the traders rising interest in the token.
Bitfinex, a leading centralized cryptocurrency exchange, announced the listing of WIF, with deposits open from Feb.7, 2024. Withdrawals on the exchange open on Feb.9.
Solana is up 6.4% on the week and is trading around $105, contributing to positive sentiment around the "Dogecoin killer."
Also Read: Dogwifhat On Fire With 125% Gains After ByBit Listing: 'WIF Is The Next BONK' Says Analyst
Why It Matters: While the crypto community buzzed with excitement over dogwifhat after a viral video showed a Wall Street bronze bull wearing a 'S---coin' hat, "MacroCRG expects more upside:
$WIF still looking strong af
— CRG (@MacroCRG) February 8, 2024
Hate rally incoming https://t.co/T6FxILI1YI pic.twitter.com/5uyaCETBWV
Another analyst, Cactus Capital, stated that putting a hat on a dog is one of the most “significant innovations in the realm of cryptocurrency in recent years.”
One X user also suggested that if the dog still has a hat, you should buy more. If not, selling should be considered:
$WIF conservative roadmap
— Laser Eyed Fink (@BoardInvestor) February 7, 2024
1/ First dog to $1
2/ Fill the wick to $4
3/ Get to Shib ATH MC at $41
3/ Get to Doge ATH MC at $89
4/ BTC ATH MC at $1285
"Buttttt Larrrryy, how do I know if I should buy?"
Here is a simple decision matrix:
Does the dog still have a hat?
-If…
Technical analyst Web3Quant predicts WIF is "about to rip" and sees the "Bonk BONK/USD playbook" playing out.
Whether or not dogwifhat will gomainstream, or mirror the success of Dogecoin and Shiba Inu remains to be seen. However, traders have made quick and significant profits from the token and other meme coins.
Read Next: GameStop, Dogwifhat And 'Dogecoin Killers' - How Memecoins Teach A 'Skill To Succeed' In Crypto
Image: Shutterstock
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