Dogwifhat Reached an ATH and Became the Third-Largest Among Memecoins by Market Cap
Over the past 24 hours, the Dogwifhat memecoin briefly crossed the $4 mark, hitting an all-time high. Dogwifhat also became the third most capitalized memecoin after Dogecoin and Shiba Inu.
The Solana-based Dogwifhat memecoin has surged 20% in the past 24 hours, briefly breaking the $4 mark and reaching an all-time high. The coin has also managed to significantly overtake Pepe and rank third in market capitalization among all memecoins. At the time of writing, Dogwifhat has declined and is now trading at $3.55.
$WIF has flipped $PEPE, and is now the 3rd largest meme coin by market capitalization. pic.twitter.com/4vg1HnazkZ
— CoinGecko (@coingecko) March 29, 2024
Despite the drop, Dogwifhat is leading the way as the coin with the largest gain in the last 24 hours. However, the RSI index is at 69, indicating that the coin is oversold.
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It is likely that in the near term, holders of the coin will want to realize gains, which will cause pressure on the price. On the other hand, MACD indicators crossed above the signal line a day earlier, marking the beginning of the current bullish cycle.
Meanwhile, Dogecoin has also reached its highest price since 2021. Over the past 30 days, the main memecoin has risen in price by 67%.
Solana remains the preferred ecosystem for memecoin launches. The Solana-based memecoin sector is up 13% in the last week and more than 40% in the last month.
