WIF (dogwifhat) rose 12.05% in the last 24 hours.

Gate News Bot news, July 10, according to CoinMarketCap, as of the time of writing, WIF (dogwifhat) is currently priced at $0.95, with a rise of 12.05% in the last 24 hours, hitting a high of $0.96 and a low of $0.82. The current market capitalization is approximately $944 million, an increase of $102 million compared to yesterday.

WIF is a simple concept: a dog wearing a hat. The project's official website emphasizes "it is just a dog wearing a hat" as this simple idea. The total supply of WIF tokens is 999 million, with a circulating supply of 999 million. The project also offers exclusive merchandise, including WIF hats.

Recent important news about WIF:

1️⃣ Market sentiment warms up, driving WIF rebound As Bitcoin breaks through $109,000, the cryptocurrency market is showing a strong rebound overall. As one of the popular meme coins, WIF has performed remarkably in this round of rebound, recording double-digit rise within 24 hours, indicating an increase in investors' risk appetite.

2️⃣ Technical breakout of the descending channel The WIF price has broken through the descending channel formed since mid-May and is approaching the key descending resistance trendline formed by connecting the high points of May 12, May 29, and July 2. If it can effectively break through this resistance line, it may open up further upward space.

3️⃣ Short-term target points to $1.078 The technical indicators show that the WIF Relative Strength Index ( RSI ) remains above 56, indicating that there is still upward momentum. If it can break through the upper boundary of the descending channel, WIF is expected to challenge the June high of $1.078. However, if it fails to break through, it may fall back to test the support level of $0.798.

From a technical perspective, WIF is currently at a critical breakout point, and a successful breakout will bring more rise potential for the short-term trend. However, considering the high volatility characteristics of meme coins, investors should remain cautious and closely monitor the overall market direction as well as the project's own development.

This message is not to be taken as investment advice; investors should be aware of market volatility risks.