Posted 2/27/2024, 3:30:00 PM
Meme Coin Dogwifhat Skyrockets 50%, Traders Score Big Wins But Volatility Risks Remain
- Solana-based meme coin Dogwifhat (WIF) surged nearly 50% in the last 24 hours to a new local high of $0.5899
- The price jump followed a bullish technical cup and handle pattern formation, indicating potential for an additional 25% upside
- One trader achieved an unrealized profit of nearly $582,000 from acquiring WIF tokens at the right time
- Another trader turned an investment of $310 into approximately $1.4 million as the meme coin rallied
- While substantial returns are possible, meme coins carry inherent volatility risks that investors should weigh carefully