Dogwifhat (WIF) price displayed an incredible rise throughout March, delighting investors by reaching its all-time high. Following this price movement, it appears that the cryptocurrency is close to performing better than PEPE, with rumors suggesting this could happen soon.
Can Dogwifhat Surpass PEPE?
In the world of meme coins, the increase in Dogwifhat price has caused concern among PEPE investors. The reason for this is that WIF’s total market value has surpassed $3 billion and is now progressively closing in on PEPE.
While Dogwifhat’s (WIF) current market value is at $3.17 billion, PEPE’s total market value stands at $3.36 billion.
If this shift occurs, PEPE will lose its position as the world’s third-largest meme coin, with Solana‘s WIF taking its place and setting its sights on SHIB and DOGE.
The Solana-based meme coin WIF, as seen in technical indicators, may be just starting a bull run. The Relative Strength Index (RSI), a momentum indicator that calculates the speed and change of price movements, continues to stay in the bullish zone.
Moreover, an upward movement in the Moving Average Convergence Divergence (MACD) indicator does not go unnoticed. This is defined as a trend-following momentum indicator that is used to identify upward and downward market movements.
According to the indicator, there is talk that WIF is inclined to start an uptrend. This triggers further price increase expectations for the meme coin, which can be observed.
Will WIF Price Rise?
Dogwifhat was trading at $3.08 at the time of writing, having recently fallen from its all-time high of $3.24 reached in the last 24 hours. If the upward momentum resumes, WIF could overtake PEPE coin, and the price increase could continue during this process.
During this period, the WIF price could reach $3.50 and accelerate its rise to different levels. On the other hand, if the current pullback does not slow down, the meme coin could fall to $2.73.
The emerging $2.73 support level intersects with the 50-day Exponential Moving Average (EMA), and breaking this level could lead to WIF falling to $2.50.
