Dogwifhat price headed to $10? Arthur Hayes thinks
Dogwhiphat (YF), a viral Solana-based memecoin, could rise to the $10 mark, according to a forecast by Arthur Hayes, former CEO of BitMEX and Chief Investment Officer of Maelstrom.
Wi-Fi costs about $10?
Dogwhip's price increased to an all-time high of $3 on March 14. But Hayes, according to a March 14 X (ex-Twitter) post, expects no problems with the value.
“When I count $10, the hat stays put.”
Memecoin reached an all-time high with supporters raising over $700,000 to launch its token at the Las Vegas Globe. After the crowdfunding effort was announced, WIF's value increased by 25%.
Related: BONK, PEPE and SHIB are threats to crypto.
Dogwifhat has grown more than 39% in 24 hours to trade at $3.13, the 45th largest by market capitalization, according to CoinMarketCap data. memecoin has gained 79% on the weekly chart.
Top memecoins lineup
The total market capitalization of memecoins rose more than 7% to $63.2 billion in the last 24 hours, with trading volume rising 69.3% to $15.3 billion, according to CoinMarketCap data.
Other popular memecoins have also witnessed double-digit weekly gains. Floki has rallied over 111% in the past week, PEPE is up 46%, and Dogecoin (DOGE) has gained over 17%, making it the largest memecoin by market capitalization.
Reinforcing investor interest in memecoins, American multinational investment firm Franklin Templeton published an investor note on memecoins on March 14, noting that memecoins can generate quick profits despite having “no inherent value or utility.”
The company notes that memecoins have low fees compared to major cryptos and offer the potential for quick profits, but have high price volatility.
This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.
