đđ„ Dogwifhat Explodes: +20% as Bitcoin Rebounds to $57k! đ„đ
Solana-based meme coin Dogwifhat has surged 20% in a single day as Bitcoin rebounded to $57,000. Currently, Dogwifhat ($WIF ) is up another 18%, trading at $1.71, according to CoinGecko data. The daily trading volume for the coin is $935 million, while its market cap stands at $1.69 billion.
This price spike propelled Dogwifhat to the 49th spot among cryptocurrencies by market cap. However, WIF remains down 26.5% over the past 30 days and 64.8% from its all-time high of $44.85 reached on March 31.
The surge in WIF also caused its relative strength index (RSI) to rise from 26 (indicating that it was oversold) to 42 (neutral zone) in one day.
The surge in WIF follows a 3% increase in the price of Bitcoin ($BTC ) over the same period, with BTC breaking above $57,000 before settling at $56,874. This latest surge comes after the digital asset started the week on a bearish note.
As a result, the total cryptocurrency market capitalization increased by about 1.5% to $2.01 trillion on Wednesday during the European morning trading session.
The recent Bitcoin price rally coincided with an increase in the Fear and Greed Index to 43%, signaling neutral sentiment in the market. Nevertheless, on-chain data shows that long-term Bitcoin investors continue to buy despite price fluctuations.
Data from Santiment reveals that Bitcoin whales have purchased over 30,000 BTC in the past two days, or about $1.62 billion. As a result, the supply of Bitcoin on centralized exchanges has been decreasing in recent days.
đ According to Santiment, large Bitcoin holders (10-1,000 BTC) bought over 30,000 BTC during the price crash.
Meanwhile, U.S. spot Bitcoin ETFs have underperformed Ethereum ETFs over the past three days. On Tuesday, August 6, U.S. spot Bitcoin ETFs saw a net outflow of approximately $148 million, led primarily by Fidelityâs FBTC and Grayscaleâs GBTC.
â€ïž Like | đŹ Comment | âȘïž Share đ
đ„ Please follow @Coinaute e Binance Square account ! đđ„
Binance Square #coinaute
