Dogwifhat (WIF) price, a Solana meme-based cryptocurrency, has experienced a notable increase in the past few days. WIF is currently on an upward curve and has recently developed a bullish configuration. Moreover, WIF has recorded a rise in market price. Most meme coins are also witnessing an upswing. Similarly, the broader cryptocurrency markets are reflecting this positive trend.
Dogwifhat price to Hit $5: Expert Forecasts
The crypto analyst RookieXBT shared an X about the Dogwifhat price, predicting a swift rebound. According to RookieXBT, the cryptocurrency could erase six months of downtrend in 2-3 weeks. This optimistic outlook suggests significant upcoming movement in the crypto market.
$WIF going to erase six months worth of downtrend in 2-3 weeks but you wouldn’t believe it$POPCAT will reprice further and become the 5th largest meme but you wouldn’t believe it
believe in something
— RookieXBT 🧲 (@RookieXBT) September 19, 2024
In the last 24 hours, several meme cryptos have experienced notable increases in their market values. Dogecoin (DOGE) has risen by 2%, Shiba Inu (SHIB) by 3%, PepeCoin by 6%, Bonk by 5%, and Popcat by 9%. This trend suggests a growing interest in meme coins, which may impact the WIF price to hit $5.
Over the past 24 hours, the DogwiFhat price has seen a significant upward trajectory, indicating a bullish trend. As of the time of writing, the WIF price hovered at $1.83, surging by 7.40%. This marks a notable increase from its 24-hour low of $1.69, reaching a high within the day of $1.90.
WIF Accumulation Spree spotted Ahead of Dogwifhat price rally
A significant cryptocurrency investor borrowed 4.5 million USDC from Kamino to acquire 2.55 million WIF tokens at $1.76 each. This move increased their holdings to 31.2 million WIF, valued at $57.4 million, with total profits now exceeding $74 million. Earlier, from December 13 to 15, 2023, they purchased 19.86 million WIF for just $226,000 at $0.0114 per token.Â
The largest holder of $WIF borrowed 4.5M $USDC from #Kamino to buy 2.55M $WIF at $1.76 again 5 hours ago!
This whale now holds 31.2M $WIF($57.4M), with a total profit of more than $74M!
This whale spent $226K to buy 19.86M $WIF at only $0.0114 from Dec 13 to Dec 15, 2023, then… pic.twitter.com/Y5ADkkxDYr
— Lookonchain (@lookonchain) September 20, 2024
Additionally, they registered the domain “binance-insider.sol” and spent 86,738 SOL ($8.92 million) to buy 17.23 million more WIF in a single deal. This accumulation suggests the investor’s bullish outlook on WIF, eyeing a future price target of $5.
The Chaikin Money Flow (CMF) indicator reflects some variation in market sentiment. Recently, the CMF has shown a positive upturn, moving from negative territory to a current value of 0.07. This suggests a growing buying pressure, indicating that the inflow of money into WIF surpasses the outflow, a bullish sign for potential investors.
If Dogwifhat successfully overcomes the $2 resistance mark, it might signal a strong return to bullish trends, potentially pushing its price close to $2. This achievement could set the stage for a later effort to surpass the all-time high (ATH) of $4.85. With increased bullish pressure, the WIF might soar to $5, achieving a 178% surge.
Frequently Asked Questions (FAQs)
As of the last update, WIF has surged to $1.83 from a 24-hour low of $1.69, indicating a bullish momentum in its market value.
Meme coins like Dogecoin, Shiba Inu, and others have also shown price increases, which tends to positively impact the entire meme coin sector, including WIF.
A major investor acquired 2.55 million WIF tokens at $1.76 each and has now a total holding of 31.2 million WIF, indicating strong market confidence.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
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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