As meme coin markets make a strong comeback, Dogwifhat price has surged with a massive $800 million trading volume. With speculations on whether WIF will reach $10, investors are also eyeing potentially more lucrative opportunities in the July market.
This article will provide an analysis of WIF’s current price trends and look to see whether an innovative new meme coin, Pepe Unchained, represents a more promising investment opportunity at this time.
$WIF previously had huge upside within' the span of 2 months and according to this fractal it tops at around $37. This roughly coincides with filling the Binance spot wick at $42 so we'll see what happens. pic.twitter.com/pr8DbzmPX1
— Eggroll (@Eggroll35) July 18, 2024
Many traders are anticipating considerable upside for WIF in the coming months, with fractal patterns suggesting a push-up well above $40.
However, this remains an illusive prospect as Dogwifhat already has a considerably large market cap at $2,389,725,026 – meaning the prospect to hit $40 would be contingent on a 17x growth in market cap to a jaw-dropping $40,625,325,442 (a capital influx equivalent to the entire GDP of Iceland).
WIF Price Analysis: As An $800M Inflow Triggers Upside for DogWifHat Price – How High Could It Go?
As price action undertakes minor correction from the recent upside, DogWifHat is currently trading at a market price of $2.36 (representing a 24-hour change of -3%).
This comes as $800m volume inflows over the past 48 hours have fuelled up a major bounce from well-defended lower support at $1.48 to a recent local high at $2.54 (an alluring +70% move).
Now facing a ceiling of resistance around $2.50, DogWifHat bulls are targeting an upside move to establish support above $2.60, according to the tightly controlled ascendant trading channel.
Meanwhile, WIF price retains local support from the 20DMA – adding further assurance to the bullish chart structure.
The RSI remains suitably neutral at 52, suggesting that the upside capacity remains in the WIF price chart.
Overall, DogWifHat looks bullish here – with upside likely to be sustained over the weekend without a broader market downturn (a fate WIF is likely to avoid as the monthly S&P5oo OPEX is anticipated to induce a strong week’s end.
Yet, with a whopping $27Bn capital influx needed for trader’s predictions to come true, it seems there are many more opportunities in the market – stemming from low cap gem trades – that could significantly outperform WIF.
Discover PEPU: Pepe Unchained Presale Surges Towards $5M Raise – Easiest 10X in Q3?
Pepe is preparing to launch his own Layer 2 blockchain solution soon:
Instant bridging between ETH and Pepe Chain
Get ready to join the future with Pepe Unchained!
pic.twitter.com/9gxNnddMyq
— Pepe Unchained (@pepe_unchained) July 18, 2024
In another meme coin play, Pepe Unchained is rapidly growing – with the ongoing PEPU presale closing in on an impressive $5M raised.
This represents a much easier 10x play than DogWifHat, with a relative capital influx of just $45m needed to perform a 10x move versus the $23Bn required by WIF price at current levels.
But why is PEPU a good trade?
Anyone who has been trading meme coins for a while will be aware of Shiba Inu’s strategic ecosystem development last year, which saw the launch of Shibarium – a high-speed low-cost layer-2 scaling solution for SHIB developers to build on.
However, unlike coins such as DOGE – which operate on standalone blockchains – 2023’s biggest breakout coin PEPE is a simple ERC-20 token – operating on the slow and expensive Ethereum layer-1 network.
This has stifled PEPE ecosystem growth, and this is exactly the challenge PEPU is working to solve, with the launch of PEPE’s very own layer-2 scaling solution for meme coin and GameFi developers.
So don’t miss your opportunity to ride the next wave of the Pepe meme coin market.
Check Out PEPU Here
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