Elon Musk, the Tesla supremo, has always been known as a staunch Dogecoin proponent. However, a new image uploaded by Musk on X has given birth to a novel speculation spree. Musk recently uploaded a new image of a dog wearing a hat, spurring speculation that the Tesla chief is supporting the Dogwifhat (WIF) meme coin.
The rumors, however, turned out positive for the WIF in general, compelling the coin to spike 30% in the last 24 hours.
Also Read: Can Dogwifhat (WIF) Overtake Dogecoin (DOGE)?
Crypto X is a chaotic arena, with new notions and theories coming up each second. In one such speculative development, a new image uploaded by Musk on X has compelled a meme coin to document a notable price surge.
The SpaceX CEO was noted for uploading an image of three dogs on X. The image was intended to wish his followers a happy St. Patrick’s Day. the image further portrayed his dogs wearing hats, triggering the rumor bandwagon to catch pace.
The image spurred speculation on whether Musk was indirectly promoting DogWifHat. WIF is a new meme coin that has been recently making headlines in the crypto market.
Per CoinMarketcap, WIF has surged more than 25% in the last 24 hours, fueled further by Musk’s alleged promotion. However, Musk is yet to deliver comments on whether the image uploaded was intended to portray his liking for WIF.
Also Read: Dogwifhat (WIF) Forecasted To Reach $10: Here’s When
WIF Price Surge
Musk’s image of a dog with a hat has indirectly helped Dogwifhat secure considerable market momentum. The coin has surged past 20% in the last 24 hours, sitting at $2.90. The coin had earlier breached the $3 threshold and has retracted its steps back in a minor downswing.
However, as per CoinCodex, the meme coin is predicted to hit $9 by April 2024.
“Based on our algorithmically generated price prediction for Dogwifhat. the price of WIF is expected to decrease by 227.96% in the next month. WIF may reach $9.85 on April 17, 2024.”
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