Pepe token and dogwifhat (WIF) prices remained at an elevated level this week as Bitcoin climbed to a record high and as the crypto fear and greed index soared. Data by TradingView shows that PEPE was trading at $0.000009455 on Thursday morning, a few points below its all-time high.
Dogwifhat, the new Solana meme coin, also soared to an all-time high of $3, giving it a market cap of more than $2.9 billion. This jump makes it one of the biggest meme coins in the world.
The main reason why these tokens soared is that they have become some of the best alternatives to Bitcoin, a coin that has become highly expensive. A single Bitcoin now goes for more than $72,000 and it will likely get more expensive ahead of halving.
Therefore, people can easily afford these meme coins and make more money as the price continues to rise. So, what next for $PEPE and $WIF?
Dogwifhat price prediction
Dogwifhat price jumped sharply as demand for Solana cryptocurrencies remained at an elevated level. Solana itself has jumped to $165, a big increase since it was trading below $100 recently.
Turning to the four-hour chart, we see that the WIF token price has been in a strong uptrend in the past few weeks. It crossed the crucial resistance point at $2.47 on Thursday morning. This was an important level since it was its highest point on March 10th.
By rising above this price, the WIF token invalidated the double-top pattern. It remains above the 50-period Exponential Moving Average (EMA), which is a positive move. The token also remains above the Ichimoku cloud indicator.
At the same time, the Relative Strength Index (RSI) has rebounded to almost 70. Therefore, the bullish momentum will likely continue as buyers target the key resistance at $3.50.
Pepe price forecast
Pepe, a cryptocurrency launched last year, has become one of the best-performing meme coins this year. It has soared by over 1,083% from its lowest point in 2023. On the 4H chart, the pair has soared above the Ichimoku cloud and the ascending trendline in brown.
Pepe has moved above the 50-period moving average. The Relative Strength Index (RSI), on the other hand, has formed a bearish divergence pattern, which is a negative sign. It has also formed a small double-top pattern whose higher side is $0.00000099.
Therefore, the outlook for Pepe token is neutral with a bullish bias. This means that more upside will only be confirmed if the token crosses the double-top point at $0.00000099. Such a move will mean that there are more buyers left in the market. If this happens, the coin will likely continue rising as the bullish momentum continues.
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