Dogwifhat Struggles To Keep Up With Dogecoin, Shiba Inu: What Is Going On?

by Khyathi Dalal Benzinga Staff Writer

Zinger Key Points

Dogwifhat’s significant price drop prompts traders to tout it as an investment opportunity even if it touches $2.
Robinhood Crypto added Dogwifhat transfers on its platform following suit of others like Pepe.
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Dogwifhat's WIF/USD underperformance has caught the attention of traders, who think better times are on the horizon for the canine-themed meme coin.

What Happened: Despite falling prices, crypto trader asad sees the risk-to-reward ratio for a run to $10 for Dogwifhat as favorable.

Crypto trader Scient believes the meme coin may offer a good entry at the $2 mark:

$WIF, Back the trend resistance.

I took some profits here and moved stops risk-free.

If we fail here, we get the entry lower, around $2 again imo.#WIFUSDT https://t.co/XDb9cuXQKr pic.twitter.com/RNDBw2BQCF
— Scient (@Crypto_Scient) November 7, 2024

Also Read: Dogecoin, Shiba Inu, Dogwifhat Struggle But ‘Established Meme Coins Will Pull A Super Aggressive Monster Rally,’ Trader Vows

Another notable crypto trader expects an upthrust but plans to go short above $3:

Looking to take this long scalp on $WIF into my short zone where I am still looking to flip short again as per prior tweets. https://t.co/CaWxpyZxWi pic.twitter.com/3i7YYsncaD
— CrediBULL Crypto (@CredibleCrypto) November 7, 2024

According to one trader, if Solana SOL/USD reaches $500, WIF would follow, offering a “rare and promising investment opportunity.”

Robinhood Crypto EU announced Dogwifhat transfers are live on the platform. The withdrawal and deposit of the meme coin will get a 1% deposit bonus for a limited time.

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