By The DogWifHat price has erupted by 41% in the past 24 hours, surging to $0.7766 as the crypto market enjoys a 3.5% gain today.
WIF actually touched a new record high of $0.7975 barely an hour ago, and while it has dipped by 2.5% since then its momentum remains exceedingly good.
It’s currently up by a whopping 129% in the past week and by 147% in the last 30 days, with earlier whale purchases largely responsible for such gains.
And with the token not too far from reaching a market cap of $1 billion, WIF could see further increases in the near future.
DogWifHat Price Prediction as WIF Targets $1 Billion Market Cap – Can it Overtake Shiba Inu?
There’s no doubt that WIF is probably the most bullish coin in the top-200 today, with its indicators all firing strongly.
Its relative strength index (purple) is nearly touching 80, a sign of intense buying pressure, but also arguably a sign that it should correct soon.
Source: TradingView
At the same time, its current price has jumped way beyond its 30-day average (yellow), which is itself rising again in a sign that the coin has recently entered a growth spurt.
Its trading volume is also bullish at the moment, rising to $125 million today after being as low as $30 million less than a week ago.
As noted above, the underlying reason for this spike is that a few whales began accumulating WIF a few days ago, as indicated by recent transfer data.
The price of $WIF increased by ~50% today!
A smart trader spent 4,900 $SOL($539K) to buy 1.43M $WIF the day before the $WIF price increased.
He has spent 14K $SOL($1.54M) to buy 4M $WIF since Feb 16 and the current unrealized profit is ~$582K.
The smart trader had made 1,443… pic.twitter.com/rUsq152S9u
— Lookonchain (@lookonchain) February 27, 2024
The thing with WIF is that, as a ‘pure’ meme token with no utility, it may just as easily crash back down once whales decide to take profits.
For now, however, it could make further gains in the near term, helped by the increasing bullishness of the wider market.
Traders have become increasingly positive in recent days and weeks, fuelled by rising Bitcoin ETF volumes, which are driving demand across the board.
This could help WIF build on its recent progress, with the meme token still yet to list on many major exchanges (e.g. Binance, Bitstamp, Coinbase).
If it does enjoy a few new listings in the coming weeks, it could rise even higher, potentially reaching $1 by the end of spring.
New High-Potential Meme Tokens
Because WIF’s current rally may be close to peaking, many traders may prefer to turn to other meme tokens already, especially meme coins at the start of their respective journeys.
There are a number of promising such coins in the market, with one of the most interesting being Scotty the AI (SCOTTY), an AI-powered crypto-currency trading platform that recently opened the presale for its native SCOTTY token.
ScottyTheAi # 1 #memecoin of 2024
investors taking advantage of cheap prices at Stage 7
Less than $150k left. Until price increases at stage 8
looking like stage 7 will sell out days ahead of time like pervious stages.
BUY $SCOTTY presale at https://t.co/zRmy4g8hfW… pic.twitter.com/2vfJDwdhtb
— Scotty The Ai (@ScottyThe_Ai) February 27, 2024
SCOTTY’s presale has already raised more than $900,000, a sign that investors are quickly taking an interest in it.
What’s interesting about Scotty is that, aside from having a meme-like mascot, it is in the process of launching an AI-based platform for crypto traders.
This platform features two main components, Scotty Swap and ScottyChat.
The former is a trading platform that enables users to perform token swaps, with artificial intelligence-based tools providing a more seamless and intuitive trading experience.
Meanwhile, ScottyChat is a chatbot that will provide Scotty Swap traders with advice and information related to the market.
For instance, users can ask ScottyChat for price predictions, as well as for buy and sell signals.
Scotty the AI will have a total supply of 1,234,567,890, with 30% of this going towards the presale, and the remainder going towards a mix of staking, marketing and liquidity.
$SCOTTY listed among Top 5 Ai cryptos on YouTube
Stage 5 of public presale selling out fast.
join presale athttps://t.co/zRmy4g8P5uhttps://t.co/yKDQQEz9eP
— Scotty The Ai (@ScottyThe_Ai) February 21, 2024
It will act as the utility token of the two main Scotty the AI tools, giving it actual utility and a natural source of demand.
Investors can participate in its sale by visiting the official Scotty the AI website, where they can buy Scotty at the price of $0.00605 per token.
This price will rise again in a week, while SCOTTY’s listing on exchanges in the next couple of months could see it rocket.
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