According to the AMBCrypto Analytics:

$WIF ahead of Dogecoin? Analyzing dogwifhat’s 21% surge

For starters, SHIB has recorded 3.17% over the past seven days while DOGE reported low gains of 3.47% on weekly charts, and PEPE was enjoying a hike of 5.41%.

While the crypto markets have experienced considerable recovery, most memecoins have gained on daily and weekly charts, with WIF at the forefront.

The surge has left analysts betting on WIF to lead the memecoin industry. On the X page, Platinum Capital shared that,

“If the market holds and #wif can hold 1.8, we are in for a move on #dogwifhat. $wif could lead this #memecoin next leg.”

As of this writing, WIF was trading at $1.86 after recording a 21.34% surge over the past week. Equally, the memecoin has increased its market cap by 3.17% to $1.8 billion.

However, while the altcoin has experienced a price surge, it has declined in trading volume by 37.51% over the past 24 hours to $255.5 million.

Looking at the Altcoins’ Advance decline ratio (ADR), which is 1.15, suggests the asset is experiencing more gains in value than losses. This indicates a bullish market sentiment.

Also, the RVGI has experienced an uptrend from -0.4 to -0.12 over the past week. Although it’s still below zero, the uptrend shows the upward movement is gaining momentum as the market sentiment shifts.

Looking further, AMBCrypto’s analysis of Coinglass shows that WIF open interest has surged by 51.1% over the past week. Open interest has increased by 51.5% over the past week from $165m to $250m.

At the same time, $WBT current price stands at 10.30 USDT. This value is -29.49% below the historical high (ATH) of $14.64 and 237.23% above the historical low (ATL) of $3.06. Over the past week, WBT has had a 0.022 increase in price, with an absolute change of 0.2140%. Over the past 24 hours, WBT price has changed by 0.2140%, with an absolute change of $0.022.