- Dogwifhat (WIF) surged over 40% final Sunday, coinciding with Elon Musk’s publish.
- Musk shared a photograph mimicking the Dogwifhat brand as a publish for St. Patrick’s Day.
- WIF dragged different meme cash alongside, with SHIB up 25% over the identical interval.
Dogwifhat (WIF) rallied greater than 40% final Sunday, coinciding with a publish by Elon Musk, proprietor of social media platform X. The brand new memecoin rebounded from a latest pullback, rebounding from help at $2.06 and reaching 3 earlier than the tip of the 12 months .15 {dollars}. day.
Within the St. Patrick’s Day publish, Musk shared a photograph of three canine, every sporting a hat. The publish’s options resemble the emblem and outline of Dogwifhat, which is “Canine with a Hat”. The publish can be in line with Musk’s oblique model of exhibiting help for memecoins.
In latest historical past, such posts by proprietor X have triggered parabolic rallies for memecoins. Highlights included dogecoin posts over the last bull run that led to memecoin’s astronomical rise to fame.
Musk’s St. Patrick’s Day publish sparked a WIF revival, with the meme coin regaining greater than two-thirds of its losses over the weekend. The transfer seems to have reversed market sentiment with a bullish candle, reflecting a possible reversal from the pullback as seen on TradingView.
The impact of the WIF restoration has unfold to another memecoins, albeit to a lesser extent. Dogecoin, Musk’s beforehand most popular cryptocurrency, jumped 16%. The dog-themed meme coin rose from $0.136 to $0.159 final Sunday. Equally, SHIB, the flagship memecoin of the Shiba Inu ecosystem, rebounded from $0.00002424 to $0.00003022, reflecting a 25% improve over the identical interval, in line with TradingView information.
Musk solely posted a picture that includes three canine in a hat and didn’t comply with up with any remark. This didn’t shock cryptocurrency customers who’re already acquainted with his model. It additionally did not generate as a lot hype as related posts from years previous. Nonetheless, the latest surge may see WIF proceed the rally that has pushed it up 1,181% over the previous six weeks.
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