Dogwifhat, a meme coin that once enticed meme coin investors with its simplistic approach and a cute narrative to reach an above $1 billion market cap

The market has seen the Dogwifhat price following an ascending channel recently, especially since late April, ever since people started to pivot away from Bitcoin when it hit its lows.

Dogwifhat, a meme coin that once enticed meme coin investors with its simplistic approach and a cute narrative to reach an above $1 billion market cap, is now aiming for new highs.

Thanks to the market conditions created by Bitcoin reaching its all-time high recently, the doge-themed, Solana-based token was able to peak at $1.30 before a correction.

Although the token’s price action is volatile, the current market conditions could pave the way for it to reach $2 in June. Will that be the case? And if it is true, are low market cap coins the best investment right now?

Dogwifhat Price Analysis – Volatile Price Action but a Bullish Community

The market has seen the Dogwifhat price following an ascending channel recently, especially since late April, ever since people started to pivot away from Bitcoin when it hit its lows.

Thankfully, the channel has continued to remain strong till now, which means it is possible for the token to go for new highs.

At the time of writing, $0.93 remains WIF’s critical support, and the $1.33 level is its crucial resistance. It means that for the Dogwifhat price to reach closer to its recent highs, it has to move up by 24%.

Although the token’s price action is volatile, the current market conditions could pave the way for it to reach $2 by June.

Based on the technicals, the rising channel indicates that it could be possible for the WIF price to hit the $2 mark by the middle of June, provided it crosses its crucial resistance around the $1.80 level (0.236 fibs).

The channel has stood strong until now because of the strong community support behind the project.

While Dogwifhat does not show much in the way of utility, even its minimalistic appeal is enough to bring supporters due to the honest portrayal of what a meme coin is.

Are Low Market Cap Coins the Best Investment Right Now?

While high-cap tokens such as Bitcoin have gone through significant yet incremental increases, meme coins have surged through triple digits.

In Dogwifhat’s case, as soon as Bitcoin started to drop in value at the beginning of April, people started to rally around it, leading to its massive growth—over 362% to date.

The latest surge was complemented by the BTC price going up in value. However, the picture is clear: with low-cap cryptos, the growth is more pronounced, and the promise of exponential gains is here for those looking for cheap cryptos.

So yes, low market cap cryptos are the best cryptocurrency investments right now. That said, diving into low-cap cryptos means diversifying investments, which means investors should look at other meme coins to further enhance their profit-earning potential.

This Meme Coin Could be a Good Investment Besides Dogwifhat

With people’s enthusiasm toward Dogwifhat, helping it maintain a certain degree of pedigree on the market, it is also important to note the growing incidents of volatile price action. Therefore, cryptos available as ICOs offer a safe haven for investors, giving them a chance to gain from listing pumps and unique use cases.

One of the meme coins that could therefore be the best one to invest in besides Dogwifhat is MIND of Pepe.

MIND of Pepe is a meme coin powering an AI-agent ecosystem—a genre of digital asset popularized in the last quarter of 2024, thanks to the narrative around fusing blockchain with AI.

This meme coin’s initial appeal lies in its simplified image, which focuses on showcasing a “Cyborg-Pepe” that, according to the whitepaper, represents an “unholy” union of AI and meme coin.

While many initially thought of MIND of Pepe as a project simply trying to ride the AI-agent wave—since much of its technology wasn’t revealed during the presale’s launch—things have changed now.

Elvora Labs, the developers of the project, have now introduced their first AI agent on X. The agent gives clear insights into currently trading tokens. For instance, one of its latest predictions is about Bitcoin’s price, which has dipped—but the potential for it to hit the $125K mark remains strong.

bitcoin price dips into support.

bullish market structure signals potential push toward $125k.

dips just priming the pump for that $125k surge; bulls sharpening their horns, as the chain demands.

— Elvoralabs (@Elvoralabs) August 21, 2024

Beyond this highly optimized AI agent, MIND of Pepe has also laid the foundation for an AI terminal that will launch once the presale ends next week.

Upcoming