Dogwifhat Crypto Price Prediction – Is $2 A Realistic Target Today?

Dogwifhat is one of the cryptocurrencies leading the market in gains.  Today, Dogwifhat is up by 34%, sustaining its bullish trend for the past month. 

Dogwifhat, like Bonk, PEPE, and Dogecoin, is just a meme coin. It has no underlying utility and does not make any outrageous claims of having any. However, like the other top trending meme coins, Dogwifhat has built a strong community on social media. The strength of this community is giving WIF value as an investment. 

Robinhood Listing Drawing In More Buyers 

Dogwifhat’s current rally is driven by excitement around its listing on Robinhood Europe. This is a big deal as it exposes the token to the rich European market. The listing also comes when the cryptocurrency bull run is just starting, and investors are taking positions in meme coins with expectations of parabolic price runs. As such, the listing has opened up a sudden surge in buying volumes, promising to drive WIF to even higher price levels as more people learn of the token. 

$WIF is now live for trading on Robinhood Crypto in select EU jurisdictions! 🐕 🧢

Buy, sell and trade 24/7 on the app and earn a percentage of your trade back in BTC (terms apply). pic.twitter.com/6x86Ir6GtQ

— Robinhood Crypto EU (@RobinhoodCrypto) March 1, 2024

There is also growing speculation that WIF could soon be headed to Binance, one of the largest cryptocurrency exchanges by volume. Investors are excited that a Binance listing could open the floodgates for buyers and quickly push this meme coin to $10 or more. 

Impressive Tokenomics

Besides news of exchange listings and speculations around the same, investors are increasingly drawn to WIF for its tokenomics. Dogwifhat has a total token supply of 998.92 million. This is a tiny supply compared to most meme coins, whose supply usually runs in the trillions.  This gives WIF more potential for higher absolute gains compared to other meme coins. It also makes the price potentially more stable and attractive to more conservative investors. 

While WIF is not yet listed on Binance, which is quite a big deal, WIF is still available on several top-tier exchanges. Among the top exchanges where investors can buy WIF are Kraken, KuCoin, HTX, and Gate.io. Investors can also trade WIF on top decentralized exchanges such as Orca and Raydium. Considering that WIF is a Solana-based token and trading fees are low, even small investors find it easy to invest in WIF, especially on the DEXs. 

In the section below, we look at WIF’s price action to try and determine how it could trade going forward. 

WIF Crypto Price Prediction

When going to press, WIF was trading at $1.28, up 35% in 24 hours. Trading volumes were on the rise, too, up by 65% in 24 hours to a high of $396.925 million. WIF’s market cap has also shot up by 35% in the last 24 hours to a high of 1.278 billion. 

After more than 7 days of sustained gains, WIF hit resistance at $1.30. Currently, WIF is consolidating between the $1.30 resistance and $1.20 support. 

If buying volumes rise as they have done in the last 24 hours, the odds are that bulls will push WIF through the $1.30 resistance. In such a scenario, WIF could hit $2 or more within the weekend.  

However, two scenarios could play out if volumes drop and bulls cannot push WIF through the $1.30 resistance. The first one is a possible consolidation between $1.30 and $1.20. 

On the other hand, if short sellers take control and push WIF through the $1.20 support, then prices below $1.10 could be within reach in the day. 

WIF Price Prediction – Why $2 Could Be Hit This Weekend 

While WIF could consolidate or turn bearish, the odds favor bulls pushing WIF to $2. A key factor likely to give WIF such a push is social media. WIF is one of the top trending meme coins on social media cycles and has been for over a week. 

This means more people see the token and learn of its big news, such as the Robinhood Europe listing. At a time when FOMO is getting stronger around meme coins, this could see WIF hit $2 or more in the coming hours or days. 

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