Dogwifhat (WIF) leads as Solana’s biggest memecoin, going beyond PEPE’s market cap. It still falls brief of DOGE and SHIB. A current uptick in its worth has actually been kept in mind. At the exact same time, its 7-day RSI has actually a little reduced. This mix recommends a possibility for more rate development.
EMA lines are revealing a constant upward pattern. This pattern mean a favorable future. It suggests WIF’s cost might quickly go beyond the $4.7 mark.
In spite of Its Growth, WIF Is Still Behind Other Memecoins
WIF has actually developed itself as the leading memecoin in the Solana blockchain community. It showcases a market capitalization that substantially beats that of its closest competitor, BONK, by an aspect of 2.
The memecoin has actually seen an amazing rise of more than 2,000% in the year 2024 alone, escalating from a modest start at $0.17 on January 1 to an amazing $3.75 by March 29. WIF cost YTD development eclipses the development of other widely known memecoins, such as FLOKI, which has actually seen a 558% development, and PEPE, with a 455% boost.
WIF Market Cap Compared With Other Memecoins. Source: Messari.
With an incredible 66.22% development in the last 7 days, WIF is now the third-largest memecoin by market capitalization, exceeding PEPE. Regardless of this significant accomplishment, the WIF market cap stays 5 times smaller sized than SHIB.
The growing and vibrant Solana memecoin community recommends WIF’s rate might climb up even greater.
Find out more: How To Buy Dogwifhat (WIF) and Everything Else To Know
In spite of Its Growth, WIF RSI Still Shows Potential
The cost of WIF increased in between March 28 and March 29. Its 7-day Relative Strength Index (RSI) experienced a small decline, moving from 86 to 85.
The RSI determines rate momentum on a 0 to 100 scale. An RSI above 70 recommends an overbought, possibly miscalculated possession most likely to draw back. An RSI listed below 30 shows an underestimated property poised for a rebound.
WIF RSI 7D. Source: Santiment.
The minor decrease in WIF’s RSI in the middle of a cost boost recommends that while the rate is growing, the momentum behind its increase is not exceedingly overheated, permitting space for additional development without instant overvaluation issues.
This is especially bullish for WIF’s rate outlook, specifically thinking about that the last circumstances of an everyday drop in WIF’s 7-day RSI was followed by an exceptional rise of over 100% in its rate within the subsequent 2 weeks, suggesting the capacity for a repeat efficiency.
WIF Price Prediction: Can It Cross $4.70 In April?
The analysis of WIF 4-hour cost chart exposes a motivating indication for financiers: all Exponential Moving Average (EMA) lines are placed listed below the present cost line, with short-term lines standing above the long-lasting lines and a visible space in between them.
This setup is generally thought about bullish, suggesting strong existing momentum and a healthy pattern upwards. EMAs are a moving average that positions a higher weight and significance on the most current information points,
