Dogwifhat’s Wild Ride: Is This Memecoin the Next Big Thing or Just a Bark?

by

So, picture this: it’s Wednesday, and Dogwifhat (WIF) decides to throw a party, surging a fabulous 16% to $1.37! 🎉 While the rest of the crypto world is busy painting the town red (and not in a good way), this little token is strutting its stuff like it’s just won Best in Show. Analysts are whispering about a breakout, but let’s be real—when have analysts ever been right? 🤔

Las Vegas Sphere: The New WIF Hat? 🎩

After a dramatic dip below the $1 mark (cue the sad trombone), Dogwifhat is back in the game, thanks to some cheeky teasing about the Las Vegas Sphere project. On Tuesday night, the official Dogwifhat X account shared a picture of its adorable mascot sporting the Las Vegas Sphere as a hat. Because why not? Who doesn’t want a giant glowing orb on their head? And what’s that? An old Nokia phone with “01.2025” on the screen? Classic! 📱

Thanks to this bullish tease, WIF bounced back to its cozy $1.30 support, rekindling the community’s love for this memecoin. It’s like a rom-com where the couple realizes they were meant to be after all. 💕

WIF was the darling of the memecoin scene in 2024, hitting a jaw-dropping all-time high of $4.88 last March. But then, like a bad haircut, it got overshadowed by other market sensations like PNUT and CHILL, dropping a staggering 40% in the last six months. Ouch! 😬

During its meteoric rise, investors were all about the hats—literally! They raised $700,000 to showcase the memecoin on the Las Vegas Sphere, the world’s largest LED screen. But then, silence. Crickets. In July 2024, investors were left fuming after seeing Bitcoin’s logo on the Sphere instead. Talk about a plot twist! 😱

Some community members even called the project a scam. But the organizers kept insisting they were working hard to make “wif on Sphere” a reality. Because nothing says “trust me” like a meme coin with a questionable backstory! 🙄

Is Dogwifhat Finally Hitting Bottom? 🐶

Crypto analyst Altcoin Sherpa weighed in, suggesting that this pump might not be as real as it seems. Shocking, I know! He thinks if Dogwifhat can hold above $1.23, it might just have another leg up. Meanwhile, crypto trader Bluntz is feeling optimistic, claiming we might be at WIF’s bottom. Fingers crossed! 🤞

According to Bluntz, “the major A wave has now been swept,” and there are “nice signs of life” forming. But let’s not get too excited just yet; he also warned that it’s still early days. So, basically, we’re all just waiting for the next big wave to crash in. 🌊

Another market watcher pointed out a one-month falling wedge pattern on WIF’s chart, which could target $1.90 if it breaks out. So, keep your eyes peeled, folks! As of now, Dogwifhat is trading at $1.21, up 14.4% in the daily timeframe. Not too shabby! 🤑

Read More

2025-01-30 05:12