Dogwifhat (WIF) has shown its remarkable performance today, witnessing a surge of over 44% and reaching a new ATH of $3,413.
Despite the leading meme coin, Dogecoin, experiencing a low increase in the past 24 hours towards the $0.2 range, the performance of Dogwifhat has significantly increased with a 44% surge.
The meme coin based on Solana is among the top 50 cryptocurrencies by market capitalization after an impressive 747% surge in the past month.
At the time of writing, WIF is trading around $3.29, lower than the all-time high of $3,417.3 achieved a few hours ago.
Why is Dogwifhat surging?
Dogwifhat is gaining significant attention following an initiative to promote its image by bringing WIF to Las Vegas Sphere for a week.
On Wednesday, the community fundraising initiative to display a sports hat-wearing dog mascot in Las Vegas reached its goal. The campaign raised over $700,000, and the response to this breakthrough has caused the price of WIF to start surging.
Today, it has surpassed the $3 barrier and could go even higher thanks to the ongoing surge in the meme coin market. Tokens like Pepe, Bonk, Myro, and Mog Coin, for example, have seen significant increases over the past 24 hours.
Analysts’ forecasts for the price of WIF suggest that the upward trend may just be getting started. On Wednesday, when the price of dogwifhat was hovering below $3, cryptocurrency investor Arthur Hayes noted that the meme coin could surge as high as $10.
