With the 2.76% uptick in the crypto market, the market cap has reached $3.49 trillion. Bitcoin, the largest asset, has hit its new all-time high at $111.8K on the Bitcoin pizza day. Meanwhile, the meme coin market cap has touched $78.7 billion, after a 5.9% surge in the last 24

• WIF has jumped 12% and is now trading at $1.12.
• Dogwifhat’s daily trading volume is up by over 156%.

With the 2.76% uptick in the crypto market, the market cap has reached $3.49 trillion. Bitcoin, the largest asset, has hit its new all-time high at $111.8K on the Bitcoin pizza day. Meanwhile, the meme coin market cap has touched $78.7 billion, after a 5.9% surge in the last 24 hours. 

Among the meme coins, the Solana-based dogwifhat (WIF) has registered a 12.63% rally. Also, the potent bullish command of the meme coin has broken through its crucial resistance, ranging between $0.97 and $1.17. Holding the ground above $1.20 may initiate a sustained bull run for WIF. 

In the early hours, the meme coin’s daily low was recorded at $0.9613. With the bullish power reigning the day, WIF’s daily high was hit at around $1.18. As of now, dogwifhat trades in the $1.12 range, with its daily trading volume up by over 156%, reaching $990 million. Besides, as per Coinglass data, the market has witnessed a $5.87 million WIF liquidation.

Can WIF Keep Riding the Wave?

WIF’s four-hour price trajectory has reported bullish momentum. The price could likely climb toward the crucial resistance at the $1.19 range. If the upside correction persists, the meme coin might eventually move up and test the $1.25 resistance. It also has the potential to invite more gains.  

On the downside, assuming dogwifhat failed to hold the price line on the upside, it could trigger the price to slip to the range of $1.05. If further downside correction occurs for the meme coin, a breakdown below the crucial level will push it to move to its former lows at around $0.98 or even lower.

The meme coin’s Moving Average Convergence Divergence (MACD) line is residing over the signal line. This crossover indicates a positive sentiment, and the buyers are in control, with the potential for more upside. In addition, the Chaikin Money Flow (CMF) indicator, stationed at 0.10, suggests a positive money flow into the asset and steady bullish momentum. 

Notably, the market sentiment of dogwifhat is in the neutral-to-bullish zone, signalling there is more room to rise before hitting the overbought zone as the daily relative strength index (RSI) stays at 59.52. Moreover, the Bull Bear Power (BBP) of WIF is found at 0.171, implying a modest bullish pressure, with the buyers in charge of the market.

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