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PEPE Outshines WIF in Meme Coin Battle

In the meme coin space, Pepe (PEPE) and dogwifhat (WIF) rank as the third and fourth-largest memecoins by market capitalization, respectively. PEPE currently boasts a market cap of $10.2 billion, while WIF trails significantly at $2.8 billion. This discrepancy generally suggests WIF has more room to grow, yet recent performance tells a different story.

While both tokens enjoy strong community backing and are listed on major exchanges, PEPE has outperformed WIF despite Bitcoin’s ongoing struggle to break past the $100k mark.

PEPE: On Track for New Highs

PEPE’s price trajectory signals remarkable resilience. After retracing to the 78.6% Fibonacci level following its April-May rally, PEPE surged past its previous highs in recent months. Notably, it broke through the 61.8% Fibonacci extension, setting its sights on:

  • The 100% extension level at $0.00003
  • The 200% extension level at $0.0000438

Supporting this upward momentum is the rising On-Balance Volume (OBV), reflecting growing buying pressure and strong investor conviction. Meanwhile, the Relative Strength Index (RSI) remains in overbought territory, but this alone doesn’t suggest an imminent pullback. With a market cap surpassing $10 billion, PEPE’s community appears increasingly confident in the token’s long-term prospects.

WIF: Struggling to Keep Up

Dogwifhat (WIF) followed a similar retracement to the 78.6% Fibonacci level, rebounding higher in recent weeks. However, unlike PEPE, WIF faced strong resistance near its all-time high of $4.87, triggering a sharp rejection in mid-November.

Despite this setback, WIF’s OBV and RSI remain on upward trends, signaling underlying strength. The bullish case for WIF rests on its ability to “catch up” to PEPE, especially in the latter phases of Bitcoin’s bull run. To gain momentum, WIF needs to reclaim and hold above the $4 mark, which could open the door to renewed investor confidence and gains.

What Lies Ahead for WIF and PEPE?

The optimistic view suggests WIF still has significant upside potential, with its lower market cap providing ample room for growth. However, its recent rejection indicates a lack of conviction among holders compared to PEPE’s stronger community support.

For PEPE, the path forward looks clearer, with technical indicators pointing to further price extensions in the coming months. Meanwhile, WIF’s ability to break above $4 will be a key test of its momentum.

While selling WIF may seem logical in the face of its recent struggles, history shows that in bull markets, conviction can be richly rewarded. Meme coins often experience explosive moves, compressing months or years of gains into just a few weeks. For now, WIF faces an uphill climb to match PEPE’s performance, but its potential remains intact.

PEPE continues to dominate the meme coin market, with strong technicals and rising investor confidence supporting its upward trajectory. WIF, on the other hand, faces challenges but retains room for a significant breakout if it can overcome key resistance. Both tokens remain ones to watch as the market enters the next phase of the Bitcoin bull run.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Bullish Times is a marketing agency committed to providing corporate-grade press coverage and shall not be liable for any loss or damage arising from reliance on this information. Readers should perform their own research and due diligence before engaging in any financial activities.

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