Solana-based meme coin Dogwifhat (WIF) has seen a major worth and market capitalization surge over the previous two weeks, recording a 68% enhance in worth throughout this era. WIF reached $2.81 on Monday, marking its highest month-to-month valuation.
The token’s market cap has additionally skilled important development, almost doubling in only one month from $1.5 billion to its present market cap of $2.8 billion. Nonetheless, consultants anticipate additional development in WIF’s market capitalization, doubtlessly ensuing within the token surpassing its earlier all-time highs (ATHs).
Bullish Predictions For WIF
After hitting an ATH of $4.83 on March 31, WIF underwent a pointy correction that lasted nearly 4 months, dropping over 50% after hitting a year-low of $1.48 in June. Nevertheless, crypto analyst CryptoSmith says a transfer above the ATH is simply a matter of time.
Associated Studying
In a latest publish on X (previously Twitter), CryptoSmith forecasted a major upward transfer for WIF within the coming months if the present uptrend persists, predicting that earlier than the top of the yr, particularly between October and November, WIF will obtain a market capitalization of $6 billion. CryptoSmith additional contends, “$WIF will lead this ”meme coin tremendous cycle” to Valhalla.”
Analyzing the token’s market cap of $2.8 billion and its complete provide of 998,926 WIF tokens, a $6 billion market cap predicted by CryptoSmith may ship the token to new highs above the $6 mark.
This might be a brand new milestone for the dog-themed meme coin, with the opportunity of surpassing the twentieth largest cryptocurrency available on the market by market cap, UNI, which has a market valuation of $5.9 billion on the time of writing.
Potential For $28 To $56 Worth Surge
Supporting the optimistic outlook, market professional “Enguin” on X highlights the case for holding WIF and considers it a serious participant within the crypto house, with a market capitalization surpassing cash like Hedera’s HBAR, ATOM, VET and Optimism’s OP token.
Moreover, the professional believes three key elements contributing to WIF’s significance are its elevated stability, elevated liquidity via a number of alternate listings, and a “well-established” mindshare appearing as an autonomous advertising and marketing drive. Enguin additional said:
Additionally as a contemporary new CTO meme from The Folks’s Chain (Solana), there’s a robust narrative for it turning into the #1 canine coin for a brand new period of crypto customers. I’m not married to this concept, however when you think about it an actual chance, a 10-20x from right here is feasible
Based on the professional’s evaluation, a possible 10x surge would take the token to a staggering valuation of $28 per token, whereas a 20x worth surge may take WIF’s worth as excessive as $56. “Relying on how loopy issues get, it may go even larger,” Enguin said.
Associated Studying
Curiously, Enguin additionally predicts a notable development in market capitalization, just like CryptoSmith’s projection, believing that the meme coin has “among the best possibilities” to achieve the highest 10 largest cryptocurrencies by market capitalization, which might imply development above the $17 billion mark, just like Toncoin’s (TON) valuation as of this writing.
Featured picture from DALL-E, chart from TradingView.com