TL;DR
- Dogwifhat (WIF) has rapidly increased in value in the past several weeks. Its potential to reach $1 depends on numerous factors like favorable market conditions.
- Short-term predictions suggest a 2024 price range of $0.33 to $0.76, while long-term expectations see it possibly exceeding $2.50 by 2030.
Is There a Chance?
Despite emerging less than two months ago, the Solana-based meme coin dogwifhat (WIF) managed to get a significant amount of attention. Its price spiked by over 90% in the past month and currently hovers around $0.30 (per CoinGecko’s data). We decided to ask ChatGPT whether the upswing could continue throughout 2024 and if WIF can hit the $1 milestone.
The AI-powered chatbot estimated there is such a chance, but the probable rally relies on multiple factors, including market sentiment and investor behavior.
Meme coins like WIF often follow the price trajectory of leading cryptocurrencies like Bitcoin (BTC). According to many experts, the latter is poised for an uptrend in the following months due to the upcoming halving, possible pivot from the Federal Reserve on its anti-inflationary policies, and other potentially bullish events.
ChatGPT also claimed that WIF’s value could head north should its community (investors, developers, and supporters) grow. This might increase the asset’s popularity and attract new potential buyers.
Some entities, including the aggregate platform CoinCodex and the prediction website DigitalCoinPrice, have already laid out WIF forecasts. The former envisioned that the meme coin would trade within the range of $0.33 – $0.48 throughout the year, whereas the latter set a maximum level of $0.76.
PricePrediction.net and Bitnation expect dogwifhat’s value to surpass $2.50 by 2030, which indicates a more gradual increase over the long term rather than an explosion toward the $1 mark in the upcoming months.
WIF’s Recent Progress
WIF took center stage in mid-December when its price was exploding on a daily scale, coinciding with the impressive rally of Solana (SOL). Despite its brief plunge after Christmas, the meme coin started pumping again at the beginning of January.
Its uptrend could be attributed to the actions of numerous major cryptocurrency exchanges, which embraced the asset. BitMEX was among the first to list the perpetual swap contract WIF/USDT.
Shortly after, Binance did the same, whereas Bitget placed the token into its Innovation and Meme Zone. Assets in that section are evaluated for a 60-day period and could be officially listed if meeting certain criteria.
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