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 vital development, almost doubling in only one month from $1.5 billion to its present market cap of $2.8 billion. Nonetheless, specialists anticipate additional development in WIF’s market capitalization, probably 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 barely a matter of time.
Associated Studying
In a latest put up 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 tip of the 12 months, 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 might ship the token to new highs above the $6 mark.
This may be a brand new milestone for the dog-themed meme coin, with the potential for 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 skilled “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 skilled believes three key elements contributing to WIF’s significance are its elevated stability, elevated liquidity via a number of change listings, and a “well-established” mindshare performing as an autonomous advertising and marketing drive. Enguin additional acknowledged:
Additionally as a recent new CTO meme from The Folks’s Chain (Solana), there’s a robust narrative for it changing 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 risk, a 10-20x from right here is feasible
In line with the skilled’s evaluation, a possible 10x surge would take the token to a staggering valuation of $28 per token, whereas a 20x worth surge might take WIF’s worth as excessive as $56. “Relying on how loopy issues get, it might go even increased,” Enguin acknowledged.
Associated Studying
Apparently, Enguin additionally predicts a notable development in market capitalization, much like CryptoSmith’s projection, believing that the meme coin has “probably the greatest possibilities” to succeed in the highest 10 largest cryptocurrencies by market capitalization, which might imply development above the $17 billion mark, much like Toncoin’s (TON) valuation as of this writing.
Featured picture from DALL-E, chart from TradingView.com
