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Key Notes
The rise of WIF price to new ATH is well bolstered by the mainstream adoption of memecoins on the Solana network.The dogwifhat memecoin has over 202k holders and registered more buyers than sellers in the recent past.Amid the mainstream adoption of meme coins on the Solana SOL $242.7 24h volatility: 1.8% Market cap: $114.80 B Vol. 24h: $7.45 B , a dog-themed project, dogwifhat WIF $3.25 24h volatility: 4.1% Market cap: $3.24 B Vol. 24h: $1.88 B , has emerged as a top-tier altcoin in the past year. The mid-cap memecoin, with a fully diluted valuation of about $3.27 billion, registered a 40 percent spike in its daily average traded volume to hover about $1.21 billion on Monday, November 25, during the early New York session.
As a result, the WIF price signaled an imminent rally toward a new all-time high in the near term. Moreover, the WIF price recently retested its ATH about $4.83 before retracing to the support level above $3.2 in the last two weeks.
WIF Gets Listed on Major Crypto Exchanges
Earlier today, Robinhood Markets Inc (NASDAQ: HOOD) announced that WIF meme coin is now available for trading on its crypto platform. As a result, WIF tokens are now available to millions of Robinhood users alongside other similar crypto projects led by Shiba Inu SHIB $0.000026 24h volatility: 2.3% Market cap: $14.98 B Vol. 24h: $1.62 B , Pepe PEPE $0.000019 24h volatility: 1.2% Market cap: $8.16 B Vol. 24h: $3.63 B , and Dogecoin DOGE $0.41 24h volatility: 0.1% Market cap: $60.93 B Vol. 24h: $10.41 B .
GM. dogwifhat ($WIF) is now available to trade on Robinhood Crypto. pic.twitter.com/grjjXidNzo
— Robinhood (@RobinhoodApp) November 25, 2024
The listing of WIF off Robinhood crypto is a major boost amid the growing competition in the Solana meme coin ecosystem. According to the latest market data, the Solana meme coins have a total market cap of around $20 billion and a daily average traded volume of over $8.6 billion. Other notable memecoin competitors on the Solana network include Bonk BONK $0.000045 24h volatility: 1.3% Market cap: $3.40 B Vol. 24h: $1.20 B , and Popcat POPCAT $1.36 24h volatility: 3.9% Market cap: $1.34 B Vol. 24h: $139.16 M .
Nonetheless, the WIF project has received significant support from the web community, including CEX listing on major exchanges. Earlier, WIF price has received significant bullish momentum following the listing on Binance and Coinbase Global Inc (NASDAQ: COIN) exchanges.
Additionally, WIF is available for trading on other crypto exchanges including OKX, KuCoin, Gate.io, Bitget, Bybit, and MEXC, among others. As a result, the overall liquidity for WIF has grown to more than $28 million on different DEXes led by Raydium on Solana.
In the last 24 hours, the WIF tokens had more than 202k holders out of which 3,056 were buyers while 2,756 sellers.
Midterm Targets
The mainstream adoption of meme coins will have a tangible impact on WIF price, which has significantly underperformed BONK in the recent past. From a technical analysis standpoint, WIF price has been forming a similar fractal pattern to Bitcoin BTC $96 052 24h volatility: 0.4% Market cap: $1.90 T Vol. 24h: $71.95 B in the past few months.
Big Upside for $WIF by 2025
If #WIF confirms its breakout, price action could extend to $10+ and potentially stretch to $18
-Sustained rally builds above $4.55
-Support levels align at $2.11-$2.35
-Risk lies below $0.333
Strategic patience may reward investors in this cycle pic.twitter.com/2dSrD7bhMF
— InvestingHaven (@InvestingHaven) November 25, 2024
With Bitcoin price already in the discovery phase, it is safe to assume that WIF will eventually rally parabolically in the near term. Moreover, Bitcoin’s dominance has signaled imminent reversal, which will kickstart the much-anticipated altseason.
In the midterm, the WIF price is aiming at converting the previous ATH, slightly above $4.8, to a support level.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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