WIF Secures Place As Third-Biggest Memecoin

As the memecoin frenzy continues, Dogwifhat (WIF) became the third-largest memecoin by market capitalisation on March 29th, surpassing Pepe (PEPE).

The price of Dogwifhat hit a new all-time high of $4.64 on March 30 according to data from CoinMarketCap.

Following an over 87% weekly rally, WIF managed to become the third-largest memecoin with a $4.3 billion market cap, surpassing Pepe (which has a market cap of $3.4 billion).

This makes WIF the 31st-largest cryptocurrency.

 

Source: CoinMarketCap

The very first trigger for the WIF price rally came back in February end back when it was trading at $0.30.

Since then, there has been no looking back with the price gaining a staggering 2600% so far.

• WIF emerges as strong performer with 2600% gains just over the past month.
• The coin hit a new all-time high of $4.52.
• It has outshined biggest rival BONK in the recent price rally.
• WIF’s year-to-date growth surpasses that of other popular memecoins such as FLOKI.

Now comes the most asked question – is the WIF price rally set to continue?

Amid the staggering WIF price rally over the past week, the 7-day Relative Strength Index (RSI) has surged into the overbought zone between 70 and 100.

Did you know? The RSI gauges price momentum on a scale of 0 to 100.

• A reading above 70 indicates that the asset may be overbought and potentially overvalued, which signals a possible impending pullback.
• Conversely, an RSI below 30 suggest that the asset is undervalued, hinting at a potential rebound in the near future.

Some market analysts are predicting that the WIF price rally will continue further to $5. However, investors need to be cautious about a possible downward trend that may lead WIF to decline to $2.12.

This highlights the importance of monitoring market signals and adapting your strategies accordingly.

At time of writing, $WIF is trading at $4.3946.

 

Source: BitDelta, WIF/USDT

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