Dogwifhat ($WIF ), one of the popular names of memecoin, may be preparing for a new rise.

Dogwifhat has increased by 30 percent in the last week, but the number of investors in the same period increased by only 1.29 percent.

Popular memecoin #WIF increased by 10 percent in the last 24 hours to 2.20. Its market value also exceeded $ 2 billion for the first time in seven weeks. So what do analysts think about WIF.

The memecoin trend is endless Memecoin market value increased by 6.8 percent in the last 24 strokes to over $ 51 billion, returning to pre-August information. Data from CoinGecko shows that Dogwifhat continues to be the fourth and largest memecoin in the industry.

While memecoins like Dogecoin and Shiba Inu remain at the top of the market in terms of value, Solana-based memecoins have dominated the 30-day returns, with POPCAT and WIF showing monthly returns of investment (ROI) of 52.9% and 24.2%, respectively.

WIF’s current price rally is similar to the memecoin hype of early 2024. The Q1 rally was strongly represented by Dogwifhat’s 8,000% ROI in less than 3 months, which in turn fueled the rise of other memecoins like POPCAT, BRETT, and MEW.

Can WIF reach 80?

Henrik Zeberg, Chief Macroeconomist at Swissblock, says WIF is currently “coming out of a long ABCDE consolidation” and offers a parabolic price target through November 11, 2024. The chart below shows that a massive range will form in the 80-zone in six weeks, representing a 3526 percent increase from the current price.

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