DogWifHat Holders Switch to New Dog Meme ICO, Targeting 1,000% Profits
Popular Solana meme coin DogWifHat ($WIF) recaptured the crucial $2 price level in the early hours July 16th after rallying 24% overnight. The token’s blistering run has given it a new current price of $2.24.
This makes DogWifHat the best-performing among crypto’s top five classic Shiba Inu-themed meme coins.
Market leader and original meme coin, Dogecoin ($DOGE), rose 4.3% over the last 24 hours and 11.4% over the last seven days to trade at $0.1221.
Shiba Inu ($SHIB) and Bonk ($BONK) posted similar overnight gains. $SHIB added 8.4% while $BONK climbed 10%.
Where they deviated, however, was in intraweek performance. The Ethereum-based Shiba Inu rose 14.3%, while Solana’s Bonk actually fell 1.2%.
Floki ($FLOKI) tracked DogWifHat closely, rising 20% overnight and 25.6% over the week to hit $0.0001857 as of this writing.
Today’s news means the meme coin sector is currently outpacing the market leaders.
The world’s favorite cryptocurrency, Bitcoin ($BTC), rose 1.3% overnight and 9.3% over the week to change hands at $57,397.
Its number one contender, Ethereum ($ETH), rose 2.1% overnight and 9.5% in seven days to its current price of $3,050.
In spite of its blistering overnight run, DogWifHat is still underperforming relative to its trajectory over the last three months.
Should the token continue like this, it could prompt a few investors to exit their positions for more reliable alternatives with better fundamentals.
From mid June onwards, $WIF has found new resistance as it struggles to recapture $2.50.
The meme coin previously found resistance at $4 and support at $2.50 throughout May, however it’s now finding bottoms at $1.50, as shown by the green line.
In the early hours between July 15 and July 16, $WIF’s Relative Strength Index
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