With the price of Dogwifhat having overcome and remained above the resistance of the downtrend, it appears that fresh all-time highs are imminent.

The meme currency market is currently seeing a strong rebound, with Dogwifhat (WIF), the fourth-largest meme coin globally, rising by an additional 21% in the past day.

Dogwifhat (WIF) is currently trading for $3.35, and its market value is $3.35 billion. In addition, the daily trade volume has increased to $565 million, a 44% increase.

Will Dogwifhat (WIF) Reach a New All-Time High?

Following a massive bull run that occurred this year in 2024, the price of Dogwifhat (WIF) surged all the way to $4.9 in the final month of March.

The price surge in WIF has drawn the interest of the global crypto community as it occupies a space among the top 50 cryptocurrencies by market cap, just a few months from going live for trading. Its recent listing on Bybit has been successful, hitting a price of $41.

However, in the four weeks of April, the WIF price retraced significantly experiencing some sort of volatility in the market.

Now, with a strong bounce back, Dogwifhat has managed to break through the downtrend, setting up the stage towards its new all-time high levels

WIF emerges as the newest addition to the array of dog-themed meme coins on the Solana blockchain.

Its website humorously states its simplicity, describing itself as “literally just a dog wif a hat.” Lacking utility, the community has resorted to guerrilla marketing tactics to enhance the token’s value.

Presently, the project’s ambition is to have its furry mascot prominently displayed on the Las Vegas Sphere

Recently, the venture capital firm Stratos disclosed that it had made over 300 times its initial investment in the Solana meme coin Dogwifhat (WIF).

When WIF was worth about $0.01 in December of last year, the California-based corporation invested in it.

Surprisingly, it has managed to keep onto all of its WIF holdings despite the substantial increase in value—WIF is currently trading at $3.43. According to CoinGape, the WIF price may increase to $10 in May.

Arthur Hayes Is in Favour of WIF

The creator of the cryptocurrency exchange BitMEX, Arthur Hayes, recently tweeted in support of Dogwifhat. Regarding the male protagonist and antagonist Omar Orson Octopus from the Disney/Pixar film Primrose Path.