The five-month-old dog-themed #memecoin🚀🚀🚀 dogwifhat $WIF has recorded an impressive price surge amid marketwide bullish sentiment while some traders expect a downfall.
WIF is up by 14% in the past 24 hours and is trading at $3.85 . The meme coin briefly touched an intraday high of $4.05 earlier today — a level last seen in early April. WIF’s market cap is sitting at $3.85 billion, making it the 28th-largest #cryptocurrency at the reporting time.
When an asset’s open interest suddenly surges, high price volatility is usually expected due to potential liquidations.
