Dogwifhat (WIF), a Solana emerging meme coin, goes against the crypto market trend by rising by an astonishing 5% and breaking the slump in the market.
The cryptocurrency market is calm at the moment, with Bitcoin and Ethereum remaining unchanged and affecting other assets. Some of the currencies are in the red zone indicating that their prices have declined in the last day’s trade.
In the last week, Dogwifhat appeared to have a relatively large price rise despite a weak market.
WIF has been on the rise ever since it reached its lowest point, which is $2. 20 during Friday’s market drop, which occurred simultaneously with Bitcoin’s lowest rate in a month and affected the crypto market by forcing many traders to close their long positions.
So far, Dogwifhat remains in its recovery phase, climbing 5%. Down by 16% in the last 24 hours to $2. 53 approaching an intraday high of $2. 55, which could extend the upside for the second session in a row: reached 41st with $2. 52 billion.
One may attribute Dogwifhat’s recent revival to this memetic statement by Galaxy Digital CEO Mike Novogratz that indirectly mentions the coin.
Another unambiguous incident is when Novogratz showed interest in a hat with dogs on it – a veiled reference to Dogwifhat.
As Dogwifhat moves upwards towards the daily simple moving average of 50 at $2. 94, its capacity to continue to gather pace with the market feeling remaining unmoved is still somewhat unclear.
