Dogwifhat WIF/USD spearheaded the broader cryptocurrency rally early Monday morning, fueled by optimism concerning the U.S.-China commerce deal.
What occurred: The Solana SOL/USD-based meme coin soared 46% to turn out to be the second-most profitable cryptocurrency within the final 24 hours. The coin’s buying and selling quantity surged almost 50% to $1.14 billion.
The rally pushed WIF’s weekly positive factors to 124% and month-to-month positive factors previous 192%.
The upsurge dwarfed the positive factors made by prime meme cash like Dogecoin DOGE/USD and Shiba Inu SHIB/USD, which rose 4.20 and 4.67%, respectively.
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Ansem, a veteran cryptocurrency dealer and early investor in WIF, described the memecoin’s chart as “very clear.” He additionally reshared Dogwifhat’s slogan “Hat stays on,” indicating his bullish outlook.
One other cryptocurrency dealer, going by the pseudonym Crypto Mechanic, acknowledged that the coin made a “nice” transfer, however now will not be one of the best time to purchase.
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“Let the worth go into consolidation or provide you with some LTF pullbacks that might be a much less dangerous setup imo,” the dealer stated.
Launched in November 2023, dogwifhat is characterised by a Shiba Inu canine carrying a pink knitted hat. The Shiba Inu theme has been deeply rooted within the meme coin house since Dogecoin’s launch.
The spike adopted a broader cryptocurrency rally spurred by the announcement of a commerce deal between the U.S. and China.
Worth Motion: On the time of writing, WIF was exchanging palms at $1.26, up 46.74% within the final 24 hours, in line with knowledge from Benzinga Professional.
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