WIF has gained by 1% today, with the DogWifHat price returning to $2.56 as the crypto market as a whole has stayed flat in the past 24 hours.
The token has now become the 44th biggest coin in the market by cap, although its price is actually down by 26% in a week and by 36% in the past fortnight.
It does, however, remain up by over 160,000% since listing in December, a percentage which underlines its considerable growth.
And as the biggest and most popular Solana-based meme coin, it could certainly continue rising up the market, even overtaking tokens such as SHIB and DOGE.
DogWifHat Price Prediction as WIF Becomes 44th Biggest Coin in the World – Can it Overtake DOGE?
WIF has actually fallen by nearly 1% in the past hour, and its chart reflects this noticeable loss of momentum.
Its relative strength index (purple) has dropped from nearly 60 earlier this morning to 40 as of writing, with its trajectory suggesting that more losses may be coming before the coin rights itself.
Source: TradingView
At the same time, its 30-day average (orange) is still slipping downwards, signaling that the coin is struggling to regain any serious impetus in the near term.
Having said that, WIF’s trading volume is encouragingly high, standing at $700 million today, in contrast to $30 million at the end of February.
Such high volume has largely followed from new exchange listings, with OKX announcing its support for WIF only a couple of days ago.
New Spot Listing $MEW @Mewsworld and $WIF @dogwifcoin will be listed on #OKX!
Deposits: OPEN
$MEW Spot trading: 8:00 am Apr 15 (UTC)
$WIF Spot trading: 9:00 am Apr 15 (UTC)
More: https://t.co/zCnI8TDmnQ pic.twitter.com/OJffIqMGAt
— OKX (@okx) April 15, 2024
There’s also ongoing speculation that, sooner or later, Coinbase will join the fun with its own listing, something which could propel the DogWifHat price even further.
But the coin may have to wait for the wider market to turn more positive though before it doesn’t anything serious, with the possibility of a miner-led BTC selloff (which has already begun to some extent) serving to depress sentiment at the moment.
If such a selloff happens, then we may not see WIF recover substantially for at least several months.
However, there are reasons to be more optimistic, with the Bitcoin halving also having the chance to improve the narrative surrounding the cryptocurrency market.
On top of this, the Federal Reserve is likely to introduce some rate cuts this year, a move that could increase investor appetite for more speculative assets.
In combination with future listings, this could push the DogWifHat price up to $3 again by the summer and then to $4 by Q4 2024.
New Meme Tokens for New Big Rallies
Assuming that WIF has to wait for more big movements, some traders may prefer to look to newer meme coins, with several presale tokens looking very hot right now.
One of these is Slothana (SLOTH), a Solana-based coin that has raised more than $10 million in its presale, which will end in just under 12 days.
And lo, Slothana, in its eternal wisdom and benevolence, hath decreed: ‘Behold, there are but twelve days remaining until the dawn of a new era.’ Let us prepare our hearts and minds, for the age of Slothana draws near. May the gains and Lambos be bestowed upon us all.…
— Slothana (@SlothanaCoin) April 17, 2024
Created by the same team that launched the successful Smog (SMOG) token, Slothana has already attracted plenty of buzz.
This is evident not only its presale total, but also in the fact that its official X account now boasts more than 19,000 followers.
This suggests that SLOTHANA has already been successful in quickly building up its own community, which will prove instrumental in supporting the token over the coming months.
Its emergence comes at a time when many Solana-based coins have outperformed the general market, with the aforementioned DogWifHat being the most notable example.
As such, SLOTHANA could easily tap into an ongoing appetite for buzzy meme tokens, as suggested by its successful presale.
While it has less than two weeks to run, investors can still join the token offering by going to the Slothana website.
They can buy SLOTH at a rate of 1 SOL for 10,000 SLOTH, which works out at around $0.019393 per coin.
Tokens will then be airdropped to investors, with the coin listing – and potentially surging – soon after.
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