Dogwifhat(WIF), a popular Solana-based meme coin, is making waves in the cryptocurrency world with its remarkable efficiency amidst bullish market belief. WIF's rally today amazed everybody, as the cost rallied by over 67% in the previous 24 hours.
Coinbase's WIF Listing Announcement
This significant rally in the meme coin was experienced after Coinbase revealed its listing on the exchange. On November 14, 2024, Coinbase Assets made a post on X (formerly Twitter), notifying its users that they would be noting Dogwifhat (WIF) on the exchange.
Coinbase's statement of the WIF listing follows its earlier statement of the PEPE listing, and as an outcome of these statements, both meme coins escalated. Aside from Coinbase, WIF's general rate action was bullish and had actually currently been experiencing considerable upward momentum.
The listing on the biggest cryptocurrency exchange in the United States permitted more users to take part and added to this significant momentum.
At press time, WIF is trading near $4.20, signing up a gain of over 36% in the previous 24 hours. It reached $4.83, close to its all-time high (ATH). The trading volume of the meme coin increased by 90% throughout the very same duration, suggesting increased involvement from traders and financiers following the listing statement.
WIF Technical Analysis and Upcoming Levels
According to professional technical analysis, WIF appears bullish and is presently dealing with resistance near its all-time high of $4.86. Based upon the current cost action, if WIF breaks out from the resistance level and closes an everyday candle light above $4.86, there is a likelihood of a considerable upward rally towards the $10 level, as anticipated by popular crypto specialist Arthur Hayes throughout the bull rally of March 2024.
Source: Trading View
Traders are anticipating WIF to breach its all-time high (ATH), comparable to PEPE, which skyrocketed substantially and got rid of numerous obstacles after its listing. Presently, the meme coin is trading above the 200 Exponential Moving Average (EMA) on the day-to-day timespan, suggesting an uptrend.
Increasing Open Interest
On-chain metrics even more support WIF's favorable outlook. According to the on-chain analytics firm Coinglass, WIF's open interest has actually risen by 35%, showing considerable involvement from traders and a significant boost in employment opportunities over the previous 24 hours.
Source: Coinglass
This rise in open interest pressed the overall worth to $690 million, the greatest considering that the token's launch.
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