Dogwifhat (WIF) stands as the biggest meme coin on Solana, although it nonetheless lags behind DOGE, SHIB, and PEPE. Not too long ago, WIF worth noticed an 11% improve in worth inside 24 hours, but its social dominance stays comparatively low.
The EMA strains for WIF’s worth point out a gentle upward development, suggesting a optimistic outlook. This development means that meme coin may surpass the $2.7 degree once more quickly.
WIF Is Nonetheless The King of Solana Memecoins, However Competitors Is Heating Up
WIF has solidified its place as the highest meme coin throughout the Solana blockchain, although its market cap has declined in comparison with earlier months. The hole between WIF and Solana’s second-largest memecoin, BONK, can also be narrowing.
In 2024, WIF skilled a rare rise of over 986%, hovering from simply $0.17 on January 1 to a formidable $3.75 by March 29. This year-to-date progress far surpasses that of different well-liked meme cash, akin to FLOKI, which noticed a 278% improve, and PEPE, with a 496% rise.
Learn extra: How To Purchase Dogwifhat (WIF) and The whole lot Else To Know
With a 24.45% soar over the previous week, WIF is now the fourth-largest meme coin by market cap. Regardless of its spectacular climb, WIF’s market cap continues to be about 5 occasions smaller than SHIB’s.
Solana’s increasing memecoin panorama suggests WIF’s worth may rise additional. Nevertheless, growing competitors from different tokens like BONK and POPCAT could pose challenges for WIF within the coming weeks.
WIF ADX Signifies A Robust Upward Momentum
WIF’s present ADX studying of 33, mixed with its bullish development, signifies a reasonably sturdy upward momentum out there. This implies that WIF is experiencing sustained shopping for strain, and the upward worth motion has stable backing, probably resulting in additional beneficial properties if the development continues.
The Common Directional Index (ADX) is a technical indicator that measures the energy of a development, no matter its route, on a scale from 0 to 100.
ADX thresholds are sometimes interpreted as follows: values beneath 25 point out a weak or non-existent development, 25-50 suggests a robust development, 50-75 factors to a really sturdy development, and readings above 75 (that are uncommon) signify an especially sturdy development that could be tough to maintain.
With WIF’s ADX at 33, it falls throughout the “strong trend” class, supporting the noticed bullish motion and suggesting that trend-following methods could be efficient within the present market circumstances.
WIF Worth Prediction: Can It Get Again To $2.70 Quickly?
The 4-hour worth chart for WIF exhibits a bullish configuration. All of the Exponential Transferring Common (EMA) strains are positioned beneath the present worth. The short-term EMA strains are above the long-term EMA strains, with a noticeable hole between them.
This setup is mostly considered as a optimistic signal for traders.
EMAs are a sort of transferring common that offers larger weight to newer information factors. This makes EMAs extra attentive to new data and worth adjustments in comparison with easy transferring averages.
The sensitivity of EMAs to latest worth actions helps merchants establish the route of the development extra shortly and precisely. General, the WIF 4-hour worth chart shows encouraging indicators that could possibly be of curiosity to traders.
Learn extra: The way to Purchase Solana Meme Cash: A Step-By-Step Information
Given this optimistic momentum, WIF may probably goal a worth of $2.70 if the present traits persist. Nevertheless, it’s essential to train warning, as a possible downward development may see WIF’s worth fall to $1.44.
This highlights the necessity for traders to intently monitor market indicators and be ready to regulate their methods accordingly. Whereas the present situation seems favorable for WIF, competitors is heating up, with BONK and POPCAT probably attracting cash that would go into WIF.
Disclaimer
In keeping with the Belief Venture pointers, this worth evaluation article is for informational functions solely and shouldn’t be thought-about monetary or funding recommendation. BeInCrypto is dedicated to correct, unbiased reporting, however market circumstances are topic to vary with out discover. At all times conduct your personal analysis and seek the advice of with an expert earlier than making any monetary choices. Please observe that our Phrases and Circumstances, Privateness Coverage, and Disclaimers have been up to date.
