This Meme Coin Will Soon Replace PEPE

The price of Dogwifhat (WIF) has had a stellar performance over the past two weeks, with the meme token hitting two all-time highs.

With this exceptional run up, the cryptocurrency has been performing closer and closer to PEPE, and from the looks of it, that could happen soon.

Dogwifhat takes over PEPE

In the world of meme coins, Dogwifhat’s rising price has created an atmosphere of concern for PEPE holders. This is because WIF's total market value has exceeded the US$3 billion mark and is now close to surpassing PEPE. The former has a market capitalization of $3.17 billion, while the latter has a total market capitalization of $3.36 billion.

If this flip occurs, PEPE will lose its position as the third largest memecoin in the world, and WIF will take its place.

Interestingly, this Solana-based meme token has only just begun its bull run, as technical indicators indicate. The Relative Strength Index (RSI), a momentum oscillator that measures the speed and change of price movements, is already in bullish territory.

Additionally, the Moving Average Convergence Divergence (MACD) indicator is also showing a bullish crossover. This is a trend following momentum indicator used to identify bullish and bearish trends. Currently, WIF is about to start a bullish trend.

This could lead to further increases in memecoin prices.