Dogwifhat ($WIF) is experiencing an incredible turnaround, outperforming several top crypto assets. The asset experienced a price surge today, rising from $1.71 to $1.89. $WIF is currently up 9.4% on the daily chart, 23.5% on the weekly chart, and 11.1% on the 14-day chart. Despite the rebound, the Solana-based memecoin is still down 1.7% over the last month.
Why is Dogwifhat rallying?
The sudden surge in $WIF’s price could be due to the general bullishness in the cryptocurrency market. Bitcoin (BTC) is approaching the $64,000 mark, and other assets are not far behind.
The market recovery can likely be attributed to the Federal Reserve’s recent rate cuts. The central bank slashed interest rates by 50 basis points last week. Rate cuts typically lead market participants to take on more risk because it becomes easier to borrow.
How to become a millionaire when Memecoin reaches $5?
To own $1 million worth of $WIF at $5 per coin, you would need 200,000. The current price of 200,000 $WIF is about $374,000. If successful, your portfolio would grow by 87%.
While the deal is attractive, when will dogwifhat hit the $5 mark?
When will $WIF reach $5?
Reaching $5 would mean a 167.38% gain from current levels. Reaching that target would also mark a new all-time high for the Solana-based meme token.
CoinCodex analysts predict that the asset will rise in the coming weeks. According to the platform, dogwifhat ($WIF) could cross the $5 mark next month. The platform expects $WIF to reach $5.13 on October 20, 2024. CoinCodex expects the meme token to reach a high of $5.98 on October 22, 2024.
Changelly, on the other hand, is more pessimistic about $WIF’s prospects. The platform predicts that the meme coin will break the $5 mark in 2033 (about nine years from now), predicting that the asset will be traded at a maximum of $5.14 in May 2033.
