Solana’s memecoin Dogwifhat (WIF) has surged by an impressive 20%, igniting bullish momentum following several notable breakouts, with potential to soar to $4.2 in the near future.
Amidst a backdrop of stable Bitcoin prices, memecoin like Dogwifhat (WIF) are witnessing a resurgence, with Wednesday marking a significant uptick of 20% in its value. This sudden surge, fueled by a whopping 70% surge in trading volume, caught the attention of prominent traders like Ansem, prompting increased accumulation among whales.
Multiple Breakouts Propel Dogwifhat Over the past 24 hours, the Solana-based meme coin Dogwifhat has experienced a remarkable surge of over 20%, peaking at $3.39 on April 24. This surge was spurred by a series of breakouts, particularly noticeable on Wednesday, with analysts identifying potential breakout patterns within the same timeframe. After a period of sideways trading, consolidating between $2.8 and $3, Dogwifhat (WIF) finally broke through the resistance level at $3.1. This breakout, coupled with the emergence of a two-week ascending triangle pattern, has fueled optimism for further upward momentum, potentially breaching the descending trendline. Traders and analysts alike have recognized these breakout patterns, contributing to the significant 20%+ surge in WIF’s price.
Ansem, citing trader Bluntz Capital, highlighted the confirmation of a breakout from a two-week ascending triangle in Dogwifhat, sparking considerable excitement within the crypto community and driving renewed bullish sentiment towards WIF’s price. Notably, Dogwifhat (WIF) has recorded a remarkable rally of over 51% throughout April.
Anticipated Rally of 35% With the breakout confirmed and the trendline retested, investors are presented with an opportune entry point at $3.2 for Dogwifhat meme coin. Currently, WIF’s price stands at $3.38, having experienced a 20% surge within the past 24 hours, with a trading volume surge of 75%. These indicators suggest a heightened interest among traders. Forecasts indicate a potential rally of up to 35%, potentially reaching a price target of $4.2. However, caution is advised as lower trading activity is anticipated due to upcoming crypto market expiries and other macroeconomic data releases later this week.
