The price of Dogwifhat (WIF) is performing positively in the past 24 hours despite the overall weakness that meme coins are experiencing.
The token’s trading volumes surged by 326%, meaning that $1.2 billion worth of WIF have exchanged hands in the past day. This figure accounts for an eye-popping 93.2% of the token’s circulating supply.
Ansem bought $WIF again after a three-month break.
2 hours ago, a wallet named #Ansem spent 1.2M USDC to buy 915,828 WIF at $1.31.https://t.co/uGyLIln4ky pic.twitter.com/ZPf4UkB92g
— Lookonchain (@lookonchain) January 29, 2025
As a result, WIF is seeing gains of 12% while other meme coins like Shiba Inu (SHIB), Pepe (PEPE), and Bonk (BONK) are experiencing losses of 3.9%, 3.6%, and 7.3% respectively.
This counter-intuitive uptick seems to have been sparked by a report from the blockchain analytics firm Lookonchain. In an X post published just a few hours ago, the firm spotted the purchase of 915,828 WIF tokens valued at $1.2 million at the time.
The wallet is reportedly linked to Ansem, a popular crypto trader with nearly 700,000 followers on X who is known for backing Solana back when this layer-one network and its potential to compete with Ethereum was not necessarily obvious to the crypto community.
WIF Bounces of Key Support – Can This Meme Coin Overturn its Yearly Losses?
Despite today’s uptick, WIF still accumulated losses of 36.5% since the year started. However, this meme coin was one of the best-performing assets in this category last year.
Analysts agree that in 2025, the best crypto presales in the meme coin space will likely deliver the most significant gains to investors.
From a technical standpoint, WIF has bounced off a critical support area in the daily chart that dates back to August 2024. However, the token has already dropped below its 200-day exponential moving average (EMA), meaning that its price is on a downtrend.
Meanwhile, the MACD shows that negative momentum has been accelerating with the latest lower lows. These are all bearish indications that favor the continuation of the downtrend.
Even though today’s uptick seems encouraging, the short-term outlook for WIF is not positive based on these technical indicators. The $1.10 level is the most critical support area to watch at the moment as a break below could predict further weakness for the asset in the next few days.
Even though WIF’s prospects may not be that promising, the best ICOs of 2025 like Best Wallet ($BEST) can deliver 10x gains to early buyers.
Best Upcoming ICO 2025: Best Wallet Token Raises $8.6M in Less Than 2 Months
The Best Wallet ($BEST) presale event kicked off in December and has managed to raise $8.6 million from investors since then as the developing team aims to disrupt the digital assets storage market.
The project’s roadmap is quite ambitious and includes the launch of a decentralized exchange (DEX) called Best DEX that will allow users to trade their favorite digital assets seamlessly.
In addition, the Best Wallet team has created an innovative tool called ‘Upcoming Tokens’ that allows investors to identify the best ICOs in the marketplace while they are still flying under the radar.
Upcoming Tokens has already spotted profitable projects like Pepe Unchained ($PEPU), a layer-two Ethereum scaling protocol that delivered gains exceeding 700% to those who invested in its presale.
At its presale price of $0.023775, $BEST investors are favorably positioned to reap the highest returns once the project is launched and the asset is listed on exchanges.
However, this price will only be available for the next 10 hours and will then be raised to compensate early supporters.
To buy $BEST, head to the Best Wallet website and connect your wallet. You can download the Best Wallet app to store this token, and you will benefit from getting the latest updates from the developing team in real-time.
You can swap ETH, USDT, or BNB tokens for $BEST or use a bank card to complete the transaction. WIF may have disappointed investors so far in 202,5 but $BEST is gearing up to become one of the best-performing assets of the year.
