dogwifhat (WIF) jumps 44% to new ATH as meme coins rise

dogwifhat (WIF) jumps 44% to new ATH as meme coins rise

By Benson Toti - min read
Updated 16 May 2024
  • dogwifhat (WIF) price rose more than 44% on Thursday to reach a new all-time high of $3.36.
  • WIF was skyrocketing as the broader meme coins space reawakened with a bang.
  • dogwifhat is soaring after a major marketing move that will see WIF on the Las Vegas Sphere for a week.

dogwifhat (WIF) is the meme coin of the moment, given its staggering returns in intraday performance today.

Dogecoin’s 8% surge in the past 24 hours to eye a new leg towards the $0.2 zone. However, despite the top meme coin’s gains, its 24-hour performance is significantly lower compared to the +44% for dogwifhat (WIF).

The Solana-based meme coin is among top 50 largest cryptocurrencies by market cap after rallying an impressive 747% upside this past month. At the time of writing, WIF traded around $3.26, just off its all-time high of $3.36 reached earlier in the day.

Why is dogwifhat surging?

dogwifhat is seeing significant attention after a major marketing move that is set to put WIF on the Las Vegas Sphere for a week.

On Wednesday, the crowdfunding initiative aimed at displaying the beanie-sporting dogwifhat mascot in Las Vegas reached its target. The campaign raised more than $690,000, and reaction to the breakthrough saw WIF price begin to spike.

Today it surpassed the $3 hurdle and could extend higher given the broader spike currently underway across the meme coin market. Tokens such as Pepe, Bonk, Myro and Mog Coin have recorded substantial gains in the past 24 hours.

Analyst forecasts for WIF price suggest the upside momentum could just be getting started. On Wednesday, as dogwifhat price hovered below $3, crypto investor Arthur Hayes noted that the meme coin could go as high as $10.

Raoul Pal, founder and CEO of Real Vision, also noted WIF’s staggering gains. He disclosed that his portfolio has 2% in dogwifhat.