- Dogwifhat (WIF) has surged 14% in the past week, driven by Bitcoin’s rise and bullish market conditions.
- A whale deposited 2.78 million WIF to Coinbase, potentially profiting $8.48 million.
- Tether minted $2 billion USDT on Ethereum, boosting market liquidity.
- WIF could target $5.60 with strong momentum and market support.
Dogwifhat (WIF) is currently capitalizing on the overall bullish market conditions, fueled by Bitcoin’s recent surge and a series of positive developments across the crypto space. Over the past week, the altcoin has experienced significant growth, with its price rising by nearly 14%, signaling strong upward momentum and potential for further gains.
As of now, WIF is trading at $3.67, with a 24-hour trading volume of $2.18 billion, a market capitalization of $3.67 billion, and a market dominance of 0.10%. The coin has seen a 9.25% increase in its price over the last 24 hours, reinforcing its position in the market as a rising asset.
Dogwifhat Whale Activity Drives Positive Sentiment
Recent data from Lookonchain revealed that a major whale deposited a staggering 2.78 million WIF, valued at $9.5 million, to Coinbase just 12 hours ago. This whale had previously spent 9,300 SOL (roughly $1.02 million at that time) to acquire the 2.78 million WIF tokens about 10 months ago. With the recent price increase, this whale now stands to make a profit of approximately $8.48 million, further solidifying WIF’s growing appeal among large investors.
Tether’s Activity Fuels Market Liquidity
In another notable development, Tether has been actively minting USDT on Ethereum, with $2 billion minted just six hours ago. This follows a trend that has seen Tether mint a total of 19 billion USDT on Ethereum and Tron since November 6, with $4 billion of that minted in the last four days alone. This influx of liquidity into the market has coincided with Bitcoin’s recent surge, which has seen the leading cryptocurrency break the $100,000 mark twice in recent days.
Dogwifhat Shows Strong Market Momentum, Eyes $5.60
The positive market sentiment surrounding Dogwifhat has not gone unnoticed by crypto analysts. The Cryptomist, a prominent figure in the crypto space, pointed out that WIF has recently broken its trend and is now being retested. With the market showing strength and both Ethereum and Bitcoin holding steady, the analyst suggests that WIF could potentially target $5.60 in the coming months.
As Dogwifhat continues to benefit from the bullish market conditions and increasing investor interest, its price trajectory remains highly optimistic. With solid whale activity, a growing market capitalization, and a favorable broader market environment, WIF is on track for potentially significant gains in the near future.
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