Dogwifhat: Can WIF Hit $5 Now That Musk Knows About The SOL Meme Coin?

Dogwifhat, or WIF, has emerged as the central crypto among the recent hoard of coins. The token has long been surging rapidly at a record pace, establishing new price milestones and amplifying pressure to trade at $2.59.

The token had briefly touched the $3 price mark before falling back to trade within the $2.50–$2.60 price range. However, the coin’s surging popularity among the masses is what’s capable of catapulting WIF to new price highs. The queue has now been joined by Elon Musk, who, in a recent update, shared that he knows about the popular SOL token.

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Musk and DogWifHat: What’s the Connection?

The DogWifHat community went into a bullish frenzy as Tesla chief Elon Musk recently mentioned how he had heard about a coin named DogWifHat (WIF). Musk was noted sharing the same in a live stream on X. Since then, the video snippet of Musk reportedly “acknowledging” the existence of Dogwifhat has sent shivers of excitement within the crypto community.

As Musk is known to heavily influence the crypto markets through his diverse opinions and tweets, his acknowledgment of WIF is being considered by some as a gateway for WIF’s stellar price hike.

Musk is known as an ardent Dogecoin fan and has been noted endorsing Doge on several public platforms. His dog-centric tweets have also had a massive influence on the token’s price prospects. Similarly, the community is also anticipating WIF’s stellar price hike now that the token has gained an official mention from the Tesla chief himself.

Could WIF Be The Next Dogecoin?

The WIF community is now hoping for Dogwifhat to encapsulate and embrace the so-called “Musk effect.”

After Musk’s acknowledgment of WIF, the price of Dogwifhat noted a brief price spike before diluting its gains. Per CoinCodex, WIF projects a promising price hike in June. According to CC, WIF stats may note a 200% price spike by the end of June.

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“The price of Dogwifhat is predicted to rise by 227.99% and reach $8.85 by July 11, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 74 (greed). Dogwifhat recorded 10/30 (33%) green days with 9.88% price volatility over the last 30 days.”