Dogwifhat Price Prediction: WIF Soars 27% As Investors Flock To This P2E DOGE Derivative And Its 86% APY

On Jul 16, 2024

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The Dogwifhat price surged 27% in the last 24 hours to trade for $2.1842 as of 01:10 a.m. EST on trading volume that jumped 97%.

WIF is helping lead the broader market surge as altcoins show bullish momentum driven by the recent Bitcoin price pump. Meme coins, known to reflect broader market sentiment, are flashing green with the sector’s market cap soaring 10%.

$WIF is absolutely RIPPING off the lows… pic.twitter.com/EqPmuKWVip
— WebTrend Analytics 📊 (@WebTrendCo) July 15, 2024

American business magazine Forbes recently highlighted WIF among the four meme coins that managed to outperform Bitcoin in the first half of 2024.

Forbes mentioned $WIF as the #1 memecoin.
GORILLIONS. pic.twitter.com/k47HZt0kja
— bishara🀄️ (@bishara_crypto) July 15, 2024

Dogwifhat Price Prediction

The Dogwifhat price bounced atop the $1.4905 support floor multiple times in a row. It is currently confronting resistance due to the 78.6% Fibonacci retracement level of $2.2250. WIF’s break above the trendline (diagonal) of the Fibonacci indicator is a good sign, encouraging more buy orders.

Increase buying pressure above current levels could see the Dogwifhat price extend the climb to the most critical Fibonacci retracement level of 61.8% at $2.8016. Further, north, the gains could see the meme coin flip the 50% Fibonacci placeholder of $3.2066 into a support floor.

A decisive candlestick close above the aforementioned level would entice more buy orders, setting the pace for further upside. In a highly bullish case, the gains could see the Dogwifhat price reclaim the $4.0000 psychological level, last tested on May 29.

Clearing this peak would see the Dogwifhat price action record a market structure change, effectively kickstarting a bull market for WIF. In a highly ambitious case, the altcoin could reclaim the peak of the market range at $4.9227.

The Relative Strength Index (RSI) has shattered past the mean level of 50, with its overall northbound move showing rising bullish momentum. The Moving Average Convergence Divergence (MACD) indicator is also above the signal line (orange band), indicating buying pressure exceeds selling pressure.

The volume profile also indicates a successive series of green bars, with these nodes suggesting prevailing bullish sentiment in the market. This could see the Dogwifhat price continue with its uptrend.

GeckoTerminal: WIF/USD 1-day chart

Conversely, if early profit booking kicks in, the Dogwifhat price could pull back. A fall below the diagonal trendline would provoke panic selling. In a dire case, the correction could see the meme coin spiral all the way to the bottom of the market range at $1.4905. A steady break and close below this level on the one-day timeframe would invalidate the bullish thesis.

Meanwhile, investors are piling into PlayDoge (PLAY), a new Dogecoin derivative that crypto YouTuber Jacob Bury says could be the next 10X meme coin.

Promising Alternative To Dogwifhat

PLAY is the powering token for PlayDoge, a meme coin and mobile-based P2E game that transforms the iconic Doge meme into a Tamagotchi-style virtual pet.

PlayDoge runs on the Ethereum and BNB chains, delivering perks such as lower fees and faster transactions.

PLAY positions holders for three key benefits. First, a token with functionality as it is the primary in-game currency for transactions and accessing special features.

Second, an earning mechanism as PLAY tokens are earned through caring for with pets and excelling in adventure games.

Third, tokens can be staked for up to 86% in annual percentage returns (APY). So far, upwards of 219 million have been staked.

PlayDoge