On Wednesdays, the value of Solana’s meme coin Dogwifhat (WIF) surged by an impressive 20%, signaling potential growth as altcoins rallied with Bitcoin remaining steady. This unexpected price hike was accompanied by a significant 70% increase in trading activity, leading whales such as trader Ansem to buy more.
Dogwifhat Saw Multiple Breakouts
In simple terms, the meme coin Dogwifhat, built on the Solana platform, experienced a significant increase of over 20% within the past 24 hours. The highest price point reached during this period was $3.39 on April 24. Following several bursts of activity on Wednesday, market analysts suggested the potential for further growth in the last day.
Kinda think $WIF sends here
— The Crypto Dog (@TheCryptoDog) April 23, 2024
After spending a week trading at roughly $2.8 to $3 without significant movement, Dogwifhat (WIF) experienced a surge in value. This was due to the coin breaching the resistance level of $3.1. The previous two-week price pattern formed an ascending triangle, and this resistance level breakout ignited a strong upward trend for WIF. Analysts and traders noticed several bullish patterns emerging, leading to a remarkable increase in WIF’s value by over 20%.
Ansem, representing Bluntz Capital, announced the confirmation of a two-week ascending triangle breakout in dogwifhat (WIF), causing a surge of enthusiasm among crypto investors. WIF’s price had already surged by more than 51% during April.
WIF Price Can Rally 35%
The WIF price has broken through its trendline and subsequently tested it again, signaling a buying chance for investors. At a price of $3.2, this represents an optimal entry point for purchasing WIF, which is currently the most recommended meme coin to buy.
In the past 24 hours, WIF‘s price surged more than 20%, reaching a current level of $3.38. The price fluctuated between $2.75 (the lowest point) and $3.38 (the highest point) during this period. Notably, there was a significant uptick in trading volume by approximately 75%, signaling heightened investor attention.
An extension of up to 35% for the rally could take the price to $4.2. Yet, this week may bring about fewer trading activities due to cryptocurrency market expiries and broader economic data.
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2024-04-24 10:33