DogWifHat Defiant As WIF Price Defies Meme Market Dip

Jump into the latest WIF price analysis, as meme coin markets recover, led by DogWifHat (WIF), the Solana meme coin, which has done a 30% jump in just a week.

Over the past two weeks, crypto has experienced volatility that has made veterans cringe, but meme-coins are laughing in the face of chaos.

Weekly charts show WIF leaving the pack in the dust. SHIB's 3.17% gain, DOGE's 3.47% boost, and PEPE's 5.41% rise are mere footnotes.

"If the market holds and WIF can maintain 1.8, we are poised for a move on dogwifhat. WIF could lead the next leg of the memecoin rally," shared Platinum Capital on X.

Increasing Open Interest for DogWifHat

WIF is trading at $1.73, marking a 21.34% increase over the past week, with its market capitalization rising by 3.17% to $1.8 billion.

Despite this price surge, trading volume has declined by 81% over the past 24 hours to $482 million.

[caption id="attachment_152855" align="alignnone" width="1911"] (WIF)[/caption]

The Altcoins' Advance Decline Ratio (ADR) for WIF sits at 1.15, signaling more gains than losses, a bullish vibe in the air. The Relative Strength Index (RSI) jumped from 29.6 to 47.14, showing buying pressure pushing prices up.

Data from AMBCrypto and Coinglass reveal that Open Interest is climbing too, up 51.1% this week from $165 million to $250 million. Investors are doubling down, holding their ground, and betting big on WIF's future.

The surge in open interest shows that investors are willing to bet on WIF's continued growth.

What's Next for WIF Price?

WIF's long liquidations nosedived from $3.7 million to $71.8k in 48 hours. Those holding long are paying to stay, which is a nice bullish signal.

Eyes are on $2.3 resistance for DogWifHat to break. A close above $1.89 today could mean WIF's headed up.

Moreover, in a surprising twist, Elon Musk's involvement with his AI language model, Grok, and its potential to create DogWifHat memes has also sparked interest.

A WIF enthusiast asked Musk if Grok 2 could generate WIF memes, to which Musk responded with a "100" emoji, indicating his support."

Paris 2024 Fuels Meme Games: The Next Big Breakout Coin?

The Meme Games isn't your typical meme coin; it's a crypto love letter to the 2024 Paris Olympics.

With a global audience of over 3 billion, $MGMES is dropping at just the right time.

The presale is underway. It aims to raise $7.5 million, covering 38% of the total supply across 10 stages. Early birds in Stage 1 snag an instant 5% gain.