The Dogwifhat price is back on the up after months of disappointing losses – could this mark the turning point for the Solana-based meme coin?
It is currently priced at $2.4 and the market is watching closely, with $3 being the next target.
The crypto market tide is turning.
Momentum is shifting from bearish to bullish which has proved a huge boon for Dogwifhat.
WIF had underperformed many other cryptocurrencies until recently.
But that underperformance has led to more significant gains in the market recovery, a signal that it could continue to show strength in the coming weeks.
The project is currently trading at $2.43, up 8% today and 50% this week. This makes it the best-performing top-100 crypto asset.
WIF was briefly flipped by its Solana peer Bonk last week but has regained its lead, with Bonk up just 17% this week.
Analyst HornHairs says that Dogwifhat is primed for $3 should it hold the $2.2 level.
He made the tweet six hours ago when WIF was trading at $2.26. Since then, it has increased in value – this is a good sign for its short-term outlook.
From a longer-term standpoint, Curb compared WIF’s current price action to Solana’s in 2021. He suggests that WIF is primed for a breakout and will “send to $10.”
Based on the analyst’s chart, WIF could push toward $18 on the higher time frame.
While Dogwifhat is exhibiting relative strength this week, it comes amid a broader market recovery.
Crypto prices have been in dismay recently, but Bitcoin has shown strength and reclaimed the $64K level. This enabled altcoin prices to rise.
Analyst Jelle highlighted that Bitcoin is repeating a bullish chart pattern and that new highs are imminent.
Should this be correct, we would likely see Dogwifhat and other meme coins continue to soar.
Another project gaining pace on the recovery is Shiba Shootout.
It is currently undergoing a presale and has almost raised $700K.
There are heaps of excitement surrounding the Shiba Shootout presale.
It has raised almost $700K in funding, indicating that investors are confident of its price growth potential.
The project is a Shiba Inu reboot with new utilities and a much lower market cap.
It also has a Wild West flavour, aligning with crypto’s frontier spirit.
Shiba Shootout’s prized utility is a Play-to-Earn (P2E) game that will be available on the App Store and Google Play Store.
It’s a Shiba Inu-themed sharpshooter game, and players can generate real $SHIBASHOOT rewards.
But don’t think that P2E is the only utility for Shiba Shootout.
There are bucketloads. Some others include token governance, incentivized community story sessions, a referral program, staking, and a lottery.
It’s a setup that gives the OG Shiba Inu a run for its money.
As such, prominent analysts are paying close attention.
The 99Bitcoins YouTube channel speculates $SHIBASHOOT can 100x.
“If you hold Shiba Inu, you’ll want to hear about this new Shiba Inu-themed meme coin that has 100x potential,” he said.
The Shiba Shootout presale is ongoing and currently priced at $0.0196.
However, the price will rise throughout the campaign, with the next increase in five days.
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