Supporters of the Dogwifhat (WIF) cryptocurrency have successfully raised over $300,000 in their pursuit to highlight the coin by projecting its logo onto the renowned Las Vegas Sphere, a prominent entertainment structure in Nevada. The fundraising campaign’s momentum continues despite a downturn in the coin’s value, aiming for a total goal of $650,000 to harness the promotional power of the venue.
Unwavering Support for WIF Despite Market Dip
Coinciding with a market value drop of 14.81% in a single day, the WIF traded at $1.91. The fundraising initiative, which kicked off on March 10th, hasn’t slowed, showing the community’s dedication to the project. Launched in 2023, WIF saw an immediate price surge followed by a slight decline after reaching above $2 during a bullish market phase.
Despite the recent market fluctuations, WIF’s 30-day performance reveals a significant 657.07% increase. This surge places the memecoin among the top 60 based on market capitalization by volume.
Market Trends and Social Sentiment Indicators
A contrasting trend is evident in WIF’s trading volume, which has seen a stark decrease from its $2.46 billion peak on March 6th to just $317.14 million. This substantial drop suggests a potential waning of interest in the cryptocurrency.
Furthermore, analytics from Santiment indicate that WIF’s social volume—determined by its mention in various online crypto communities—has also declined. While this could signal a decrease in the buzz around WIF, it may also present a buying opportunity for investors looking to capitalize on future hikes in interest and price.
