Every year, the cryptocurrency industry welcomes numerous meme coins. While some make it big a few others turn out to be mere scams. As these assets follow the footsteps of Shiba Inu (SHIB) and Dogecoin (DOGE) only a few have managed to mirror their popularity. A fairly new meme coin that made headlines was Dogwifhat (WIF). The asset has been keeping it low as coins were utility was taking the front stage. But things could be changing for WIF with the start of the new month.
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Looking Into The WIF Market
Unlike the rest of the market, WIF was seen in a downtrend. The meme coin has been moving downwards since the beginning of the month. Throughout January, the asset has dipped by 34%. During press time, the dogwifhat was trading at $1.20. This was achieved after a significant drop of 9.70% over the past 24 hours.
While this is certainly bearish for the WIF ecosystem, the asset displayed a notable increase in 2024. Within a span of 12 months, the meme coin rose by 282%. In the month of March, the asset managed to hit an all-time high of $4.85. Sadly, WIF is trading 75% below this peak at the moment.
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Is $4 Within Reach?
While several assumed that WIF was nothing but a mere passing fad, the asset is set to prove naysayers wrong. Data from CoinCodex highlights a bullish pathway for the asset during the coming month. According to the firm, the meme coin will rise to a maximum price of $4.01. This marks a staggering 233% surge from its current price level. In addition, the average price of the asset sits at $2.40 for the second month of the year.
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