With the cryptocurrency market reclaiming the $3 Trillion milestone, the memecoin category has experienced a meteoric surge over the past few days. The article covers market sentiment and potential price targets for Shiba Inu (SHIB) and Dogwifhat (WIF) tokens.
Shiba Inu (SHIB) Price
With a jump of 8.56% in the past 24 hours and a trading volume of $3.43 billion, the SHIB price has maintained its bullish sentiment. The second largest memecoin has surged 39.14% over the past week with a YTD return of +152.36%. The Relative Strength Index (RSI) continues to hover above the overbought range. If the bulls regain momentum, the Shiba Inu price will retest its upper resistance level of $0.0000380. However, if the bears overpower the bulls, this could result in the meme coin retesting its lower support level of $0.0000170.
Dogwifhat (WIF) Price
The WIF price has reclaimed the $4 mark with an intraday surge of ~49%. This Solana-based memecoin has soared 80.41% over the past week and 1,661.23% this year. The EMA 50/200-day has experienced a strong bullish rise in the WIF chart. Maintaining the price above its support level of $4 could set the stage for Dogwifhat to retest its ATH of $4.850. In contrast, a bearish reversal could drag the price toward its support level of $3.
FAQs
What is the ATH of WIF memecoin? With an ATH of $4.85, Dogwifhat price requires a jump of ~13% to achieve a new all-time high. How high can the SHIB price go this week? If the bullish sentiment sustains, Shiba Inu price may head toward its upper high of $0.0000380. Is this a good time to invest in memecoins? The meme coin market is extremely volatile at this point, making it a high-risk investment.
Memecoins continue to attract investor attention with price fluctuations. With potential growth and volatility, it's important for market participants to closely monitor changes and make informed investment decisions.
