Well, dash it all, old sport! Dogwifhat (WIF for those in the know) has taken quite the fancy turn, shooting up over 250% from its April nadir faster than a policeman after a runaway bicycle. And wouldn’t you know it, it’s waving a rare pattern that might—just might—send the price soaring by a staggering 130%, or so the wise guys say. Fancy that! 😊
On Tuesday, WIF strutted to a princely $1.0142, riding on the coattails of Bitcoin, altcoins, and the entire stock market doing the boogie—something about a rally, I dare say. Its market cap jumped to a cool billion bucks—quite the pocketful, really—making it the fourth biggest of the Solana meme squad, right behind Trump, Bonk, and the hilariously named Fartcoin. Truly, this lot keeps the chuckles coming, doesn’t it? 😆
And what’s more, the thing’s got the kind of technicals and fundamentals that would make a stockbroker’s eyes water. First, Santiment reckons that network growth has gone from a sad 1,690 to a lively 5,000 plus—like catching a cold in a crowded lift, but in a good way. This measures how many new addresses pop up daily, which is generally a good sign you’re not dealing with a bunch of Old Mother Hubbard’s ghost-town investors. 📈
Secondly, the funding rate—think of it as the financial equivalent of a lady’s ahem—has flipped positive after a stint in the negatives since June 1. So, all those traders with more optimism than a pup in a pet shop seem to think WIF’s future looks as bright as a penny in a fireworks factory. 💥
Further scoops from SolScan indicate the number of WIF holders has boomed to over 236,000, which is a roundabout way of saying folks are keen to stick around—and perhaps hide their tokens under the mattress for a rainy day. And if that isn’t enough, the inflow/outflow ratio has turned negative; folks are yanking their coins from exchanges like a dog after a stolen roast, possibly gearing up for a nice ride upwards. Futures interest is also on the rise, hitting nearly $400 million—quite the purse, really! 💰
Technical Detective Work on WIF
Our sharp-eyed technicals suggest WIF’s got room to run after a fancy cup-and-handle pattern appeared on the daily chart. The cup bottomed at $0.3185 back in April—so far, so good—and the top snuggles around $1.3472. The handle of this teacup formed after a dip from $1.3473 to about $0.7825. If history’s anything to go by, this suggestive pattern hints at a price target of an eye-watering $2.3885—meaning, if all goes according to plan, a tidy 130% rise from today’s humble bracket. So, hold onto your bowler hats, my dear reader—WIF might be just warming up! 🎩✨
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2025-06-03 19:36