- WIF rallied by 15%, post-Robinhood listing, sparking investor interest and market buzz.
- The memecoin could reach $5 if bullish momentum breaks resistance levels.
Dogwifhat [WIF] has been on a wild ride in recent days, with its price soaring by 15% after a surge in buying activity. This rally comes as the Solana-based memecoin captures growing attention, especially following its listing on Robinhood.
The listing has put WIF in the spotlight alongside established crypto assets like Dogecoin [DOGE], highlighting the increasing mainstream acceptance of meme-based assets.
As retail and institutional interest rises, the big question is whether WIF can maintain its momentum and possibly hit $5.
A closer look at price and trading activity
Dogwifhat experienced significant bullish momentum, with its price rallying by 15% in recent days. This surge coincided with a sharp increase in trading volume, signaling heightened investor interest.
The RSI hovered around the neutral 50 mark, indicating room for further upward movement without being overbought.
Source: TradingView
Meanwhile, the OBV showed sustained buying pressure, boosting WIF’s price action. Despite slight corrections, WIF consistently showed higher lows, indicating strong support levels. This suggested that the rally may continue.
Recent activity positions WIF for higher price milestones, fueled by market enthusiasm and Robinhood’s pivotal listing.
Robinhood’s listing of WIF
Robinhood’s recent decision to list Dogwifhat has made waves in the cryptocurrency world and signaled growing mainstream acceptance of memecoins.
This inclusion follows Robinhood’s cautious approach to cryptocurrency listings in the past, highlighting a shift towards embracing a wider range of assets. The listing has not only increased WIF’s visibility but also fueled a surge in market interest, with trading volume rising significantly.
As a result, WIF’s market capitalization has soared, solidifying its position as one of the top memecoins in the market. Robinhood’s move signals confidence in the long-term viability of meme tokens and showcases the platform’s evolving stance on cryptocurrency investments.
Can WIF crypto reach $5?
Following Robinhood’s listing, WIF surged to a peak of $3.655, at press time. This surge was supported by a 50% spike in trading volume within 24 hours and a 9% increase in Open Interest, according to CoinMarketCap.
Analysts suggested that breaking the resistance at $3.75 could unlock further upward momentum. The sustained buying pressure, coupled with heightened interest in futures and options markets, shows WIF’s growing appeal.
Realistic or not, here’s WIF’s market cap in BTC’s terms
If bullish sentiment continues and key support levels hold, the memecoin could realistically target the $5 milestone, marking a significant achievement in its upward trajectory.
However, market conditions and broader crypto trends will play pivotal roles in determining whether WIF can sustain this momentum.
