This cycle’s dog-themed sensation, Dogwifhat (WIF), has become the leading memecoin amid the market’s recovery. The token saw a 12% surge in the early hours of Tuesday, propelling the price above the $1.6 mark. As the memecoin tries to reclaim key support levels, some crypto analysts forecasted WIF’s next targets.
After reaching its all-time high (ATH) of $4.83 in March, WIF experienced a decline of over 66% due to market fluctuations. August retraces dropped its price to a 6-month low of $1.1 before starting its recovery. Since then, the token has registered a 1% increase from its price one month ago.
Dogwifhat reclaimed the $1.5 support zone with a price surge of over 12%, making it the third largest gainer in the top 100 cryptocurrencies by market capitalization. Analysts suggest that reclaiming the $1.51 support level could push WIF’s price to higher levels, potentially reaching the $2.2 price range.
Crypto trader Bluntz emphasized Dogwifhat’s performance, suggesting that the price could jump to $2.4 as it bounces from the c wave levels. However, analyst Altcoin Sherpa warned that WIF won’t hit ATH anytime soon and expects more consolidation around the $1.44-$1.95 area.
Currently, Dogwifhat is trading at $1.53, up 5.5% in the last 24 hours.
