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Dogwifhat Price Analysis

Dogwifhat Price Eyes 50% Surge As Buyers Break 190-Day Resistance 

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2 months ago

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The Solana-Meme cryptocurrency Dogiwfhat surged 5.4% on Monday’s market uptick, hitting a two-month high of $2.77. The bullish momentum was bolstered by the WIF buyer’s attempt to break past a 190-day resistance and a significant spike in future open interest (OI). Will Dogwifhat price lead the meme coin rally in October?

Dogwifhat Price Eyes Massive 50% Surge as Key 190-Day Barrier Falls

In the last 4-days, the Dogwifhat price sharply rose from $2 to $2.7, recording 34% growth. Consequently, the altcoin market cap boosted to $2.67 Billion. This price jump undermined the bearish pullback triggered by the Israel-Iran war and breached the $2.5 level.

An analysis of the daily chart shows the two converging trendlines drove a steady 6-month correction, which pushed the price to a low of $1 in early August.

This, the wedge pattern Breakout signals a major trend reversal for Dogwifhat price. If the demand pressure persists, the buyers could drive a 54% rally to chase $4.08 before challenging the peak of $4.86.  

A potential bullish crossover between the 50-and-100-day exponential moving average would accelerate the recovery momentum and bolster a sustained rally.

Dogwifhat PriceDogwifhat Price
WIF/USDT -1d Chart

Check out the article on top meme coins to buy for a detailed analysis

WIF Price Ends 190 days for Trend Reversal

According to Coinglass, WIF open interest has surged dramatically since mid-September, rising from $195.7 million to $370 million, reflecting an impressive 89% growth. This sharp increase in open interest indicates growing participation in the WIF futures market, suggesting a substantial buildup of positions by traders anticipating significant price movements in the near future

.Average Directional Index, ADX, at 28%, is poised in the overbought region. However, the momentum indicator Average Directional Index, at 28%, is poised to enter the orbought region.

WIF Futures Open InterestWIF Futures Open Interest
WIF Futures Open Interest | Coinglass

Typically, this ADX high value indicates the buyers will soon hit exhaustion and could require a buyer for back to recuperate the bullish momentum. However, if the dogwifhat price breaks below $2, there’s a good chance of a notable crash to $1.

Frequently Asked Questions (FAQs)

Yes, Dogwifhat price is positioned for a potential 50% rally following the breakout of the 190-day resistance, driven by increased buying momentum and rising futures open interest.

Dogwifhat’s price has surged due to a bullish pattern breakout, a record surge in futures open interest, and the buyers’ success in breaking past a 190-day resistance, signaling a potential 50% price rally.

The Average Directional Index (ADX) at 28% suggests that buyers may soon face exhaustion, signaling a potential pullback

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Dogwifhat (WIF)

Analyst Signals Bottom for Dogwifhat Price as WIF Eyes $3 with Bullish Support

Published

4 weeks ago

on

October 28, 2024

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The crypto market witnessed a sudden pump during Sunday’s low volatility as Bitcoin headed back to $70,000. Amid the renewed bullish sentiment for the Quater 4 rally, a crypto analyst highlights potential bottom formation in Dogwifhat price with key technical indicators, proposing a reversal opportunity.

By press time, the WIF price traded at $2.5 with an intraday gain of 5.75%. Conservatively, the asset market cap rallied to $2.5 Billion.

Analyst Predicts Bottom for Dogwifhat as WIF Targets $3 on Bullish Momentum

In a recent tweet, analyst Bluntz highlights a bullish outlook for the dog-themed meme coin Dogwifhat, studying the WIF/SOL pair. The layer-1 cryptocurrency Solana has showcased substantial bullish momentum as the crypto market is gradually adopting the Q4 rally.

While the SOL’s strength could boost the top memecoin under its umbrella, the Dogwifhat (WIF) caught the analyst’s attention as a promising candidate for a potential breakout.                                                                                                                          

According to Bluntz, the WIF/SOL pair appears to be bottoming out on the 4-hour chart. He notes a “5 down” wave pattern, a common signal for the end of a correction phase, accompanied by significant divergence. 

This setup, particularly with the heavy divergence, suggests a possible trend reversal for the Dogwifhat price. 

WIF/SOLWIF/SOL
WIF/SOL pair | Bluntz

WIF Price Analysis Signal 1.5% Surge Before Key Breakout

In the past two weeks, the WIF price has showcased a steady downtrend from $2.97 to $2.1 low, accounting for a 26% loss. This bearish turnaround resonating strictly within two downsloping trendlines reveals a bull flag pattern formation.

Theoretically, this chart setup is characterized by a long ‘Pole’ representing the dominating trend and a ‘Flag’ portion to display temporary correction. This retracement holding its position above the 50-day exponential moving average accentuates a health pullback for the next leap.

Currently, the Dogwfihat price trades at $2.48, standing 1.5% away from challenging the flag resistance. A potential breakout from the overhead trendline will give buyers sufficient support to drive a higher recovery.

The post-breakout rally could drive the asset 32% up to challenge the $3.3 high.

BINANCE:WIFUSDT Chart Image by sahilmahadik07

On the contrary, if crypto sellers continue to defend the flag resistance, the dogwifhat could witness renewed selling pressure and drive an extended consolidation.

Frequently Asked Questions (FAQs)

The analyst signals a bottom formation for Dogwifhat and predicts a potential breakout, targeting $3 as WIF gains bullish momentum amid a broader Q4 rally.

Currently trading at $2.48, WIF stands 1.5% away from breaking the bull-flag resistance. A breakout could push the price up by 32%, potentially reaching $3.3.

Dogwifhat is forming a bull-flag pattern, characterized by a downward-sloping “Flag” after a strong “Pole” rally

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Dogwifhat Price Analysis

Why Selling These 3 Altcoins Before November Is a Stupid Decision

Published

4 weeks ago

on

October 23, 2024

By


The crypto market is gradually embracing a bullish sentiment in Q4, with Bitcoin on the verge of a breakout toward $70,000. Amid this renewed momentum, selling these three altcoins now could be a missed opportunity for investors as they are poised for a prolonged rally in November.

Why Dumping These 3 Altcoins Before November Might Be a Big Mistake

The altcoin market has started gaining momentum for a Quarter 4 rally as Bitcoin triggered renewed recovery sentiment after a $60,000 rebound. Meme cryptocurrencies, known for their dynamic reactions to market shifts, tend to experience sharp moves during such rallies, often outperforming traditional altcoins in the short term. Among the top meme coins, Dogwifhat (WIF), Goatseus Maximus (GOAT), and SPX6900 (SPX) stand out as must-hold assets.

Altcoins- Dogwifhat (WIF)

In the last 10 weeks, the Solana-based meme coin Dogwifhat showcased a notable recovery from $1.07 to $2.97— accounting for 177% growth. However, the coin price recently retraced to $2.4 to recuperate the bullish momentum, while the market cap fell to $2.41 Billion.

According to Coinglass data, the WIF OI-Weighted funding rate remains positive at 0.0082%. This suggests that long positions are still willing to pay a premium to hold their trades, indicating that traders maintain a bullish outlook despite short-term price corrections.

Thus, the WIF price is better positioned to form a fresh higher low and drive a recovery past $3.

WIFWIF
WIF OI-Weighted Funding Rate | Coinglass

Goatseus Maximus (GOAT)

Goatseus Maximus (GOAT) is an AI-generated meme-cryptocurrency that quickly gained crypto investors’ attention due to its high momentum and viral nature. 

According to Lookonchain data, a crypto trader stupidmoney.sol sold his entire 15.15M GOAT 9 days ago, turning their 5 SOL( worth approx $727) into 15,883 SOL( worth 2.44M). However, the GOAT price extended its recovery to reach $0.69 now while boosting a market cap of $695.47 Million.

If the trader has held its current position, his profit would be more than $10M.

Unlike other altcoins, Goatseus Maximus continues to show strong recovery momentum with no signs of slowing down, making it a foolish decision to sell this asset at this stage.

SPX6900 (SPX)

SPX6900 (SPX) is an Ethereum-based meme coin that parodies the S&P 500, currently trading at $0.79 and a market cap of $731 Million. Over the past two weeks, the SPX price has traded sideways, resonating within two converging trendlines of a bullish pennant pattern.

Theoretically, the chart setup drives a short-term consolidation for the prevailing trendline to regain momentum. If true, the meme cryptocurrency is poised for a 6.6% jump before offering a major breakout from the pattern’s key resistance.

A potential breakout will accelerate the bullish momentum for a rally past $2.

Altcoins - SPX6900Altcoins - SPX6900
SPX/USDT -1d Chart

Conclusion:

Selling WIF, GOAT, and SPX6900 before November could be a missed opportunity as these altcoins show strong bullish patterns and market data suggest potential for higher rallies.

Frequently Asked Questions (FAQs)

Investors should avoid selling these altcoins as they are positioned for a potential rally in November. WIF, GOAT, and SPX show strong bullish patterns and positive derivative market data, indicating a likelihood of higher price surges.

The positive OI-Weighted funding rate for WIF, currently at 0.0082%, suggests that long positions are still paying a premium to hold their trades

The pennant pattern in SPX6900 suggests that the asset is in short-term consolidation, likely preparing for a breakout.

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Dogwifhat (WIF)

Dogwifhat Price 8% Away From Ending Six-Month Bearish Phase

Published

2 months ago

on

October 6, 2024

By


During the low-volatility Saturday session, the Dogwifhat price dropped by 2.8%, bringing it down to $2.27. The bearish momentum was triggered by the price’s ongoing struggle to break through the key resistance trendline of the falling wedge pattern, which has persisted since March 2024. As the market enters ‘Uptober,’ buyers could drive a final push to conclude this six-month correction.

Dogwifhat Price Inches 8% Closer to Breaking Six-Month Bearish Streak

The cryptocurrency market started October on a bearish trajectory, impacted by the escalating conflict between Iran and Israel. This downturn saw Bitcoin dropping below $65,000, while major altcoins, including Dogwifhat, faced significant reversals. Dogwifhat’s price tumbled from $2.64 to $1.96, marking a 25% loss before recovering slightly, reclaiming the $2 level.

Dogwifhat’s price is now encountering a significant overhead supply at the psychological $2.5 mark. This resistance is compounded by a falling wedge pattern established in March 2024. This chart setup, a typically corrective pattern, is defined by two converging trendlines that signal a steady downward correction. However, the price usually precedes a major breakout, suggesting a potential trend reversal.

Currently trading at $2.2, the WIF price is just 8% away from challenging the pattern overhead trendline. A successful breach from the resistance trendline will accelerate the recovery momentum and drive an 88% rally to hit $4.08, followed by $4.86.

A potential bullish crossover between the 50-and-100-day exponential moving average could support the bullish narrative.

Dogwifhat Price Dogwifhat Price
WIF/USDT -1d Chart

Check out the article on top meme coins to buy for a detailed analysis.

WIF Open Interest Soars 88% Amid Bullish Market Activity

Since mid-September, the WIF open interest has surged significantly from $195.7 million to $368.2 million, marking an impressive 88% growth. This sharp rise in open interest suggests increasing participation in the WIF futures market, which could indicate a substantial buildup of positions by traders expecting significant price movements.

WIF Futures Open Interest (USD)WIF Futures Open Interest (USD)
WIF Futures Open Interest | Coinglass

Additionally, dogwifhat’s Weighted funding rate spiked to 0.0062% on Saturday, according to Coinglass data. This positive value accentuates the buyers’ readiness to pay a premium price to hold a long position, indicating their confidence for further rallying.

WIF OI-Weighted Funding RateWIF OI-Weighted Funding Rate
WIF Weighted Funding Rate | Coinglass

On the country note, if Dogwifhat price reverts from the resistance trendline, the asset could prolong its current correction.

Frequently Asked Questions (FAQs)

Dogwifhat’s price is approaching a key resistance point, just 8% away from breaking out of a falling wedge pattern since march

A potential breakout from the wedge resistance and a bullish crossover between the 50-and-100-day exponential moving averages (EMA) could signal a trend reversal

Dogwifhat’s price faces strong resistance at the $2.5 psychological level, compounded by the falling wedge pattern that has been in place since March 2024

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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