Dogwifhat (WIF) Predicted To Hit New High Of $5: Here’s When

Dogwifhat (WIF) has had an unthinkable tally successful the market. The plus rapidly climbed the charts of the apical projects by marketplace cap. Despite the stellar aboriginal performance, WIF has stumbled lately. The plus has fallen to the 91st spot among the apical cryptocurrencies by marketplace cap.

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Dogwifhat’s Current Price Movements

Source: Twitter

WIF has faced a important correction implicit the past fewer weeks. The plus is down 3.4% successful the regular charts, 23.8% successful the 14-day charts, and 28.4% implicit the erstwhile month. Despite the dip, the plus has maintained a 6.1% maturation implicit the past 7 days. WIF has besides rallied by 347.2% since January 2024, being 1 of the best-performing cryptocurrencies of the past year.

Source: CoinGecko

Why Did The Memecoin Dip?

WIF’s terms took a dip implicit the past 2 months owed to bearish developments successful the macroeconomic space. Inflation successful the US roseate to 2.7% successful December 2024. The Federal Reserve consequently took a hawkish stance with its monetary policy. The Fed announced lone 2 involvement complaint cuts successful 2025 alternatively of three.

In January 2025, US jobs information came successful amended than expected. This further formed a shadiness connected the anticipation of an aboriginal involvement complaint cut. The improvement led to different correction successful the cryptocurrency market. WIF and different assets took a important dip.

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WIF To Hit A New All-Time High?

WIF is presently down by 67.6% from its all-time precocious of $4.83. The memecoin peaked connected Mar. 31, 2024, astir 10 months ago.

#dogwifhat $WIF seems to beryllium trading wrong a parallel channel. We could spot further consolidation astir the channel's little bound earlier an upswing toward $5! pic.twitter.com/4wS7U0tMp6

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According to salient cryptocurrency expert Ali Martinez, WIF is trading wrong a parallel channel. The memecoin could surge to a caller all-time precocious of $5. Hitting $5 from existent terms levels could construe to a rally of astir 222.58%.