The Dog in the Hat meme is one of the leaders in terms of market share and trading volume.
According to Cointelegraph, Dogwifhat (WIF), the largest Solana-based memecoin by market capitalization, has continued its recovery that began on September 8. WIF has increased by about 112% from its September 6 low of around $1.40, reaching a four-month high of $2.97 on October 16. WIF is currently trading at $2.63, marking a 3% increase in the past 24 hours and a 76% increase in the past 30 days.
Dogwifhat's bullish performance is in line with a similar bullish trend seen in other top memecoins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE),
WIF's price increase over the past 30 days coincides with a significant increase in its open interest (OI). The price will continue to rise.
From a technical perspective, WIF's price action since early September has formed an ascending parallel channel on the daily chart. The lower boundary of the channel at $2.50 acts as immediate support, while the relative strength index (RSI) at 59 suggests that market conditions are favorable for further upside.
This article does not contain investment advice or recommendations. Any investment and trading move involves risk and readers should conduct their own research when making decisions and take responsibility for their decisions.
#Write2Earn! #Write&Earn #writetoearn #Write2Win $DOGE $SOL
