This Meme Coin Could Dethrone PEPE Soon

Dogwifhat (WIF) price has had a stellar run these last two weeks, with the meme coin marking two new all-time highs.

With this exceptional rise, the cryptocurrency has inched closer to outperforming PEPE, and by the looks of it, this could happen anytime soon.

Dogwifhat Takes Over PEPE

In the world of meme coins, the Dogwifhat price rise has created an atmosphere of worry for PEPE holders. This is because the total market capitalization of WIF has risen to cross the $3 billion mark and is presently close to overtaking PEPE. The former has a market cap of $3.17 billion, whereas the latter is collectively worth $3.36 billion.

Should this flippening take place, PEPE would lose its spot as the third-largest meme coin in the world, and WIF would take its place.

Dogwifhat and PEPE Market Capitalization. Source: TradingView

Read More: Dogwifhat (WIF) Price Prediction 2024/2025/2030

This Solana-based meme coin is interestingly only beginning its bull run, as indicated by the technical indicators. The Relative Strength Index (RSI), a momentum oscillator measuring the speed and change of price movements, is already in the bullish zone.

Furthermore, the Moving Average Convergence Divergence (MACD) indicator is also exhibiting a bullish crossover. This is a trend-following momentum indicator used to identify bullish and bearish trends. At the moment, WIF is close to initiating a bullish trend.

Dogwifhat RSI and MACD. Source: TradingView

This could result in a further price rise for the meme coin.

WIF Price Prediction: Can It Prevent a Decline?

Dogwifhat price is currently at $3.18, declining after failing to mark the new all-time high at $3.24 in the last 24 hours. If the bullish momentum picks up pace and WIF manages to overtake the PEPE coin, the price rise could continue. 

Consequently, the WIF price would be able to touch $3.50 and rally further. 

WIF/USDT 1-day chart. Source: TradingView

Read More: How To Buy Dogwifhat (WIF) and Everything Else To Know

On the other hand, if this correction does not stop, the meme coin could fall to $2.73. This support line is in confluence with the 50-day Exponential Moving Average (EMA), and losing it would invalidate the bullish thesis that could send WIF to $2.50.

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