The recent bull run in cryptocurrency saw increased interest in meme coins like SHIB, BONK, PEPE, DOGE and WIF, which is inspired by the popular Dogwifhat meme. While many meme coins saw quick gains in late February and early March, most dropped off except for WIF.
WIF continued rallying, gaining another 50% over the week while other coins like SHIB declined slightly. This shot WIF up over 40% for the period, easily outperforming peers like DOGE and BONK which only managed 7% gains. PEPE did see a 23% increase but WIF’s move was particularly notable.
Analysis of WIF’s price chart shows it had been trading in an upwards channel since December. But it broke out strongly in late February as meme coins attracted widespread attention. At the time of writing, WIF was at $2.6 with a $2.5 billion market cap, making it one of the largest meme coins behind only DOGE, SHIB and PEPE.
Technical indicators suggest WIF’s rally may continue. The RSI of around 60 shows buying pressure without being overbought. And the MACD lines confirm the uptrend is gaining momentum. Key resistance levels to watch are $3.06 and $4.3, based on Fibonacci extensions. Breaking these could let WIF set new all-time highs.
Neuer Meme-Coin im Blick, der darauf abzielt, der nächste $BONK, $WIF oder $MEW zu werden 🤫
Gesponsert
However, as a meme coin without real utility, WIF’s potential gains may be limited compared to its massive run so far. Investors should carefully research this highly speculative market segment before buying. As meme mania rages on, WIF has outshone rivals – but caution is warranted given volatility.
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