Dogwifhat (WIF) memecoin volume grows amid price rise

The meme cryptocurrency market has been experiencing notable rallies in recent days, driven by several memecoins trading at considerable profits. Among these tokens is Dogwifhat (WIF) which has been standing out with a notable price increase and performance.

In an important development within the WIF ecosystem, the meme cryptocurrency’s trading volume recorded a growth of 39.03%. Given the recent growth, Dogwifhat’s trading volume reached an impressive US$2.68 billion, as revealed by data from the Coinglass platform.

According to a survey on the platform, on May 28, the WIF memecoin recorded a volume of US$514.06 million. The graph shows the growth in numbers referring to cryptocurrency trading volume, approaching the peak recorded in March.

The recent substantial increase in volume for the WIF cryptocurrency suggests steadily increasing optimism among investors regarding the token’s potential growth. The increase in the activity of a currency shows that more traders are entering the market, which makes a huge contribution to the rise of the token.

At the time of publication, the price of dogwifhat (WIF) was quoted at US$3.78, up 2.4% in the last 24 hours. During this period, the cryptocurrency recorded a trading volume of US$1,173,354,166. Currently, WIF is the fourth largest memecoin with a market capitalization of $3,763,086,627. In its weekly development, the token showed an appreciation in its price of 31.2%.

Is Memecoin WIF Poised to Rise Again? Analysis

A well-known cryptocurrency expert and trader recently expressed his optimism about a memecoin based on the Solana (SOL) blockchain. The pseudonymous analyst Flow Horse on the X platform highlighted in his analysis a potential growth in the price of the dogwifhat (WIF) meme.

The expert observed the recent movements of WIF in the market, highlighting that the cryptocurrency, whose logo has a dog wearing a hat, appears to be in a consolidation phase on its daily chart.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.