Analysts express a bullish outlook on Solana-based Memecoin Dogwifhat (WIF) as it eyes a $5 target after the price retested the $4 resistance level. Following its Coinbase listing, WIF surged over 40%, attracting the attention of market watchers who predict a massive rally before the year's end.
Dogwifhat was one of the standout performers earlier this year with a 2000% surge to its $4.83 ATH in March. After experiencing a 66% price drop in succeeding months, the token rebounded amid the momentum regained in the crypto market, breaking above the $2 resistance.
WIF joined the market’s broader rally post-Trump's victory in the US elections, exiting an 8-month downtrend and spurring investor optimism by reaching the $3 mark levels, last seen in June. This week’s Coinbase listing, beside memecoin PEPE, catalyzed a significant price boost propelling WIF’s journey into positive territory.
Despite a brief retrace coinciding with Bitcoin heading to $87,000, Dogwifhat remained resilient, recording a 9.9% increase in 24 hours against a broader market decline of 2.2%. Excitement grows around potential continued gains, potentially mirroring Shiba Inu’s 2021 post-Coinbase listing rally.
Some analysts eye a $5 mark target by Christmas for WIF. Trader Koala predicted a deviation from a $3.90-$4.30 range toward significant growth. Additionally, an X user noted a trajectory similar to SHIB’s previous performance could see WIF surge, optimistically suggesting a $52 level could be reached by year-end.
Currently trading at $4.05, Dogwifhat reflects a promising 71.6% gain over the past seven days, underpinning optimism surrounding its growth potential. The upcoming months could be pivotal in solidifying WIF's position as a leading asset in the crypto meme sphere, following in SHIB’s footsteps.
