Dogwifhat Surges 70% Post-Coinbase Listing, Traders Eye Shiba Inu-Like Rally

Dogwifhat has jumped 70% in just a week. This surge follows its recent listing on Coinbase. Traders are buzzing with excitement, wondering if this momentum could lead to a rally like Shiba Inu's. Remember Shiba Inu? It skyrocketed 1,800% after its Coinbase debut back in 2021.

One trader has set a target price of $5. Others are equally optimistic, hoping for a breakout similar to what SHIB experienced.

After the Coinbase listing, a significant investor, often called a whale, put in 12,400 Solana (SOL/USD), worth about $2.7 million, into Dogwifhat and Bonk (BONK/USD). They bought 406,000 WIF at $3.87 each, along with 7,200 SOL.

Cryptocurrency Price Market Cap 24-Hour Trend 7-Day Trend:

• Dogwifhat: $4.05, $4.05 billion, +11.6%, +70%
• Shiba Inu: $0.00002504, $14.8 billion, -5.5%, +32.5%
• Bonk: $0.00003774, $2.8 billion, -2.1%, +67.9%

Crypto trader The Cryptomist believes Dogwifhat could break out to $5. Another trader, Lucky, echoed this, saying, "The hat's still on, aiming for $5 and beyond." They see a strong connection between Dogwifhat's Coinbase listing and Shiba Inu's impressive rally. When SHIB was listed, its market cap was around $2.8 billion, and it kept climbing for 42 days. Right now, WIF's market cap is about $3 billion, leading some to think it might reach $52 by Christmas.

In community news, Coinbase now offers full trading options for Dogwifhat. Users can buy, sell, convert, send, receive, or store the coin.

Dogwifhat is chasing after gains like those of Dogecoin and Shiba Inu. Recently, it achieved a 12% rally, with a bullish trader stating, "The hat stays on till $25."

Market news and data are provided by Benzinga APIs.