In the last 24 hours, dogwifhat (WIF) has surged by a notable 16% in price as it begins another rebound journey toward the $2 mark. According to CoinMarketCap data, WIF climbed 16.34% up to $1.34. This upsurge has placed WIF above all assets in the top 100 coins by percentage gains.
WIF jumps despite broader market sell-off
Notably, the combined market cap has recorded an average decline of 1.05% within the same time frame. This signals that WIF is likely experiencing a boost from market participants drawn to the meme coin.
WIF’s trading volume has soared by 290.91% to $1.11 billion, bolstering the push toward the price retracement to $2. Meanwhile, the meme coin has fluctuated within a low of $0.9783 and a high of $1.37, signaling its potential to reach higher levels.
Interestingly, this rebound move has surprised the broader market, given that WIF plunged sharply some 36 hours ago. The meme coin had dipped below its $1 support level and hit a low of $0.9897 as it bled red.
However, in a shocking reversal, WIF has steadily climbed to a higher level. Analysts suggest that if WIF could sustain the current momentum to breach $1.40 and $1.50 in the ongoing bullish rebound, it might retest the $2 price level.
WIF outperforms Solana and other meme coins
Dogwifhat is posting this remarkable surge despite the bearish signal with Solana, which is currently down by 2.82%. Despite being a Solana-based meme coin, WIF has found the bullish path as it seeks to reclaim lost levels.
Other top meme coins like Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe (PEPE) have not seen growth in their price action either. DOGE is currently trading down by 2.15% at $0.3283.
While SHIB has declined by 3.29% to $0.00001844, PEPE shed 2.44% to trade at $0.00001264 on the broader market.
Investors backing dogwifhat would hope that WIF can sustain the current momentum and not slip to a lower level.
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