Dogecoin’s Bull Run, Bitcoin (BTC) Uncertainty Around $70K, Dogwifhat (WIF) Rally: Bits Recap April 1
BTC solidified around $70K, DOGE is among the best performers on a weekly scale, while WIF keeps hitting new ATHs.
TL;DR
- Bitcoin (BTC) remained around the $70K mark with slight fluctuations, amidst bullish predictions and the upcoming halving event, suggesting a potential rally.
- Dogecoin (DOGE) experienced a notable price surge last week, crossing the $0.22 mark for the first time since November 2021, with analysts forecasting further increases.
- Dogwifhat (WIF) saw significant growth, reaching a new peak and becoming the third-largest meme coin by market cap.
The Calm Before the Storm for BTC?
The primary cryptocurrency did not experience any substantial price swings in the past seven days, and bulls were uncertain around the $70K mark, which was eventually lost. However, there were some brief moves in both north and south directions.
The asset’s price surpassed $71,000 at the start of last week, shortly after Robert Mitchnick – BlackRock’s digital assets lead – described BTC as a good portfolio diversifier. A minor correction on March 27 caused Bitcoin to dip to $68,500 before rallying above $71,500 the following day.
Over the weekend, the price consolidated around $70,000, but the start of this week offered another dose of volatility. Currently, BTC is worth approximately $69,500 (per CoinGecko’s data).
The crypto community, though, remains predominantly bullish, believing a significant resurgence is on the horizon. The BTC halving , which is scheduled to take place in about 20 days, is one factor supporting that thesis.
The event occurs roughly every four years and slashes the rewards distributed to miners for validating new blocks on the blockchain. Historically, it has been a precursor for a bull run for the entire cryptocurrency market.
DOGE Steals the Show
Unlike BTC, Dogecoin (DOGE) witnessed a substantial price pump last week. On March 28, its valuation briefly exceeded $0.22 for the first time since November 2021 and currently hovers the $0.21 mark. The market capitalization of the largest meme coin crossed the $30 billion level, increasing its dominance against its biggest rival – Shiba Inu (SHIB).
Some popular analysts think DOGE’s rally is nowhere near its end, envisioning new peaks in the following months. The X user Rekt Capital argued that Dogecoin ended its “macro downtrend” and begun a new “macro uptrend:” a move that might fuel a rally towards $0.30.
The analyst also predicted a bright future for SHIB, suggesting the community might witness a jump to almost a new all-time high should its price overcome the major resistance level of $0.000033285.
WIF Has No Limitation
Another meme coin that made the headlines due to its price rally is the Solana-based dogwifhat (WIF). As CryptoPotato reported , it surged above $4 on March 29, while its market cap reached $4 billion and thus surpassing PEPE to become the third-biggest cryptocurrency in the realm.
The resurgence did not stop there, with WIF climbing to another peak of $4.80 on March 31. It slightly retraced in the following hours, currently worth around $4.40.
WIF’s success is quite impressive, considering the fact that it saw the light of day at the end of last year. Over the next few months, it received support from leading crypto exchanges such as Binance , Kraken, Coinbase, and more.
Additionally, it caught the eye of prominent industry participants, including BitMEX’s co-founder Arthur Hayes, who publicly backed the asset.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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