By
Svetlana Soroka
April 26th, 2024
Raoul Pal’s disclosure of his WIF ownership, coupled with the substantial surge in the token’s market value, has ignited fervent discussions and speculations among investors and market participants.
Real Vision Group’s founder and CEO Raoul Pal recently disclosed his ownership of less than 2% of the dog-themed meme coin dogwifhat (WIF), triggering significant market interest.
This revelation comes at a time when WIF has experienced a remarkable 43.69% surge in market value, drawing attention from crypto enthusiasts and investors alike.
WIF = Banananananas! +1600% in 90 days, 600% in 30 days, +54% in 7 days. @blknoiz06 nailed this call. There is no mania like crypto mania… (yes, I have a small bag <2%, no I’m not shilling it, merely enjoying the fun) pic.twitter.com/b3GdaLYyrc
— Raoul Pal (@RaoulGMI) March 14, 2024
Raul Pal’s WIF Holdings Disclosure and Market Surge
In a recent post on his X account, Pal revealed his holding of less than 2% of the WIF token. This disclosure coincides with a substantial 59% surge in the market value of WIF, marking a significant milestone for the meme coin within the larger cryptocurrency market.
The market surge has resulted in a surge of community enthusiasm and a renewed interest in the dog-themed Solana-based token.
The surge in WIF’s market value reflects the growing appeal and traction of dog-themed meme coins in the midst of a broader crypto market rally. The current trading price of WIF stands at $3.19, indicating a 43.69% in value over the past 24 hours according to CoinMarketCap data.
Additionally, as highlighted by Raul Pal, WIF has witnessed a phenomenal 1,600% surge in 90 days, accompanied by a 600% increase in 30 days, and a 54% rise in the past seven days. Furthermore, its market capitalization now stands at a substantial $3.1 billion, displacing other meme coins to become the fourth-largest by market capitalization.
Although WIF’s market value is still a fraction of that of Dogecoin, which holds the 9th position among all cryptocurrencies with a market cap of $26 billion, the rapid success of WIF within a relatively short timeframe is undeniable.
The boost in WIF’s market value also coincides with a broader surge in the meme coin segment, with the sector’s market cap soaring by 7.12% over the last 24 hours to reach $65.44 billion. Such robust growth is supported by the rally of other popular meme coins like Dogecoin, Shiba Inu, Pepe Coin, and FLOKI.
Photo: CoinMarketCap
The synergy between the performance of WIF and the broader meme coin segment highlights the interconnected nature of the crypto market and how broader trends can significantly impact specific assets.
In a testament to the meme coins’ profitability, a recent report by Arkham Intelligence detailed that a trader capitalized on the frenzy surrounding Dogwifhat, generating a staggering 33,000% return on investment.
Arthur Hayes Predicts dogwifhat to Hit $10 Price Level
Raoul Pal’s disclosure of his WIF ownership, coupled with the substantial surge in the token’s market value, has ignited fervent discussions and speculations among investors and market participants.
With renowned figures like BitMEX co-founder Arthur Hayes predicting WIF’s price to reach $10, the market participants are closely monitoring the potential rally of this dog-themed meme coin.
Hayes’ consistent bullish outlook on WIF’s price trajectory has further bolstered investor confidence, leading to heightened interest and anticipation within the meme coin segment. The soar in WIF’s market performance, along with bullish predictions of its further price rally, underscores the increasing enthusiasm and investment activities surrounding this unique digital asset.