Altcoin roundup: WIF Memecoin leads the way with 50% surge
The Bitcoin price has been stuck in a narrow range as the hype surrounding the ETF dies out, causing the price action of most altcoins to be cautious this week. However, there are a few altcoins that have managed to catch bids and extend their gains. One such altcoin is Dogwifhat (WIF), a memecoin based on the Solana platform. WIF has emerged as the best-performing cryptocurrency out of the top 200 tokens with a more than 50% price surge. On Thursday morning, WIF price hit a new all-time high of $0.5318 and currently stands at $0.48 after a brief correction.
JPMorgan CEO Jamie Dimon criticizes Bitcoin again, receives backlash
In his latest interview, the CEO of JPMorgan, Jamie Dimon, once again took a dig at Bitcoin. Dimon referred to the pioneering cryptocurrency as a “Pet Rock” without any intrinsic value and a tool for money laundering. These remarks have been widely met with criticism in the crypto circles. Despite Dimon’s negative comments, Bitcoin has continued to gain popularity and recognition as a legitimate asset class.
Dogwifhat (WIF) hits new all-time high as altcoin market remains cautious
The price of Dogwifhat (WIF), a memecoin based on the Solana platform, has soared to its highest level in history. The price surge pushed the market capitalization of Dogwifhat above $460 million, making it the 5th most valuable memecoin. This surge comes at a time when the altcoin market is cautious due to the lack of movement in the Bitcoin price. The strong performance of Dogwifhat highlights the potential and opportunities that exist within the altcoin space.
SUI crypto bounces back, targets new yearly high
The altcoin SUI experienced a brief dip to $1.20 during a sell-off on Tuesday. However, the drop turned out to be short-lived as the price quickly rebounded and closed the day at $1.29. On Wednesday, the SUI price was up 1.72% and currently stands at 1.78% at press time. On the 4-hour chart, SUI is facing resistance from the $1.33 level. If a breakout above this level occurs, it could result in a new yearly high above $1.45. On the lower side, there seems to be support below $1.10, but this might only come into play in the event of a rejection from $1.33.
SEI crypto poised for all-time high as price targets $0.88
SEI crypto, the native asset of SEI Network, is another altcoin aiming for new highs. After a 7.6% increase on Tuesday, SEI price had a 3.68% pullback during its Asian session on Wednesday. However, the most likely scenario still seems to be a retest of the $0.88 level. There is a possibility of a retest of the $0.76 level before reaching $0.88. This indicates the potential for SEI to achieve an all-time high and continue its upward trajectory in the altcoin market.
Analyst comment
News 1: Positive for the market. WIF Memecoin’s surge indicates potential and opportunities within the altcoin space. Market could see increased interest in altcoins.
News 2: Neutral for the market. Despite criticism from JPMorgan CEO, Bitcoin continues to gain popularity and recognition as a legitimate asset class. No major impact on the market expected.
News 3: Positive for the market. SUI crypto’s bounce back and potential for a new yearly high suggests upward momentum in the altcoin market. Market could see increased buying interest.
News 4: Positive for the market. SEI crypto aiming for all-time high and potential retest of key price levels indicates a bullish trend in the altcoin market. Market could see increased buying interest.
