While Bitcoin is breaking records, a dog in a hat is capturing everyone’s attention.

DogWifHat (WIF) is up 20% in the past day, making it one of the hottest meme coins on the market.

But is it a good idea to get into WIF, or does the new Pepe Unchained (PEPU) Layer-2 project have better long-term prospects?

DogWifHat Breaks $3 as Spot Trading Volumes Explode

DogWifHat is on a wild run right now.

Its price has hit $3 – back to where it was in June.

WIF has jumped 59% since the lows of November 5th, and the momentum shows no signs of slowing.

The coin’s numbers tell quite a story.

Trading went through the roof yesterday, with over $2.2 billion worth of WIF changing hands.

That’s a 200% increase from the previous day.

This buying spree pushed WIF’s total value past $3 billion, now double the size of its Solana-based rival Popcat (POPCAT).

Interestingly, there’s no real reason for the spike – no big news or project updates.

Instead, WIF is benefiting from the broader market bullishness, as pretty much every meme coin is getting a boost right now.

However, traders now face the classic crypto dilemma: cash out or hold on for more gains.

WIF Price Outlook – Could $4 Be on the Horizon?

Although WIF’s rally has been vertical, the coin likely has more room to run.

It’s still trading 38% below its March all-time high when it hit nearly $5.

But jumping in right now might not be the smartest play.

The charts suggest WIF could pull back to around $2.70, based on Fibonacci retracements.

That might be the sweet spot for anyone looking to get in on the action.

Crypto trader @DylanTillEth thinks WIF could rally again and reach $4 by December, and his math checks out.

If WIF falls to $2.70 then rebounds, the next big hurdle is the $3.58 mark, which aligns with the 1.278 Fibonacci extension level.

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