[Dogwifhat’s rally is far from over, with analysts predicting a 1,600% rise]
Shiba Inu Killer Dogwifhat (WIF) has seen significant price gains since mid-September, rising around 32% in the past seven days, outperforming other cryptocurrencies and meme coins. The rally prompted bullish forecasts.
Dogwifhat rose to prominence in early 2024 and was considered the “Shiba Inu Killer” by the meme currency community. The price started the year at about $0.15, then surged more than 3,100% to $4.84 in March and April amid the Solana-related meme coin craze. Despite the price correction, it is still favored by investors and has strong community support.
Dogwifhat has enjoyed impressive gains since September, rising 9.5% in 24 hours. Crypto analyst Rekt Capital noted that Dogwifhat broke above a multi-month downward trendline and heralded this as the starting point for a broader altcoin rally. Another crypto expert, Gumshoe, also expressed optimism about Dogwifhat, noting that $35 million worth of Dogwifhat has been moved from Binance to self-hosted wallets, showing investors’ confidence in long-term holdings.
Crypto trader Sito’s WIFUSDT chart shows Dogwifhat breaking above the 4-hour 200-day moving average, similar to what happened in February when the price surged 1,600% in 48 days. Sito speculates that Dogwifhat may rise again in the coming weeks, with the price expected to reach $25.
Dogwifhat is currently trading at $2.4, and while replicating the 1,600% gain will be challenging, a break above the $2.665 resistance could see the price rise further to reach highs of $4.84.
