WIF Up Over 10%: Can the Meme Coin Reach $3?

The price of dogwifhat (WIF) has risen above $2.6 for the first time since July 2024.?

According to CoinGecko, WIF’s price surged from $2.27 to $2.72 in just 24 hours. However, as of the time of writing, the meme coin is experiencing some pullback, with its price standing at $2.60.

Are Dog Meme Coins on the Rise Again?

WIF is part of the popular dog meme coin category, which includes other well-known coins like Dogecoin (DOGE) and Shiba Inu (SHIB).

Currently, Dogwifhat ranks third among dog-themed meme coins by market capitalization, with a value of $2.6 billion.?

Neiro (NEIRO), another popular meme coin, recorded a 52.9% increase in 24 hours. NEIRO’s recent listing on several major centralized crypto exchanges triggered a massive rally, pushing its price up by over 2000%.

This dramatic price action propelled NEIRO’s market capitalization to $622 million, securing the sixth position in the meme coin ranking.

Can WIF Reach $3?

The big question for the WIF community now is whether the meme coin can break through the $3 barrier. WIF reached its all-time high (ATH) on March 31, when it briefly touched $4.83.?

The $3 mark is seen as a key resistance level that, if breached, could open up the path for further growth.

Some traders are watching for the price to hit $2.88, which would serve as an important support level for upward momentum. Breaking past this point could pave the way for WIF to aim for $3 and beyond.?

$WIF @dogwifcoin Beautiful retest successfully completed

Approaching major resistance level at $2.88 – once we break that

The leg up will be violent #hatstayson pic.twitter.com/uNnI9QdmUa

— Mayo (@mayofinance24) October 7, 2024

While some in the crypto community are optimistic, others are more cautious. A few analysts believe that if WIF reaches $2.88, it could trigger a deep correction.?

Let's run it back. $WIF#dogwifouthat https://t.co/NP9WdMV96O pic.twitter.com/vs9P1uOHkd

— CrediBULL Crypto (@CredibleCrypto) October 7, 2024