Dogwifhat (WIF) soared 58% for the week but met strong resistance at $1.6809. The token, inspired by the meme of a dog wearing a pink hat, hit a record $4.83 in March.

Since its launch in December 2023, WIF's capitalization has reached $4 billion, becoming the third largest meme coin after Dogecoin and Shiba Inu.

Technical analysis indicates a bullish trend, but it is worth remembering that meme coins are mainly driven by speculation and hype rather than actual utility. 📉