Most likely the wire will get hot. You are right, at DC the resistance is only the series resistance of the wire.
If you were to apply an AC signal then it is different. As you increase the frequency the perceived resistance to the AC signal would increase. Many small signal inductors are rated at 100MHz. The rating will be something like 300 ohms at 100MHz meaning that to the source, the line the signal is traveling on will look like a 300 ohm resistor. This is in magnitude impedance format, which is the perceived resistance. At slightly over DC the perceived resistance will be near zero ohms, as the frequency increases, so will the perceived resistance. There is a point at which the resistance will reach a maximum and then it will go back down
There are a few simplifications here but the concept is sound.