Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Dogwifhat (WIF) Gains Traction as Breakout Signals Potential 20% Surge

Dogwifhat (WIF) Gains Traction as Breakout Signals Potential 20% Surge

Cryptodnes2024/12/08 09:55
By:Cryptodnes

Popular memecoin Dogwifhat (WIF) has captured significant attention recently, with growing interest from major cryptocurrency players.

As December 7, 2024, sees the broader market showing strong bullish movements, including notable gains in Bitcoin , XRP , BNB , and DOGE , WIF is positioning itself for a potential price surge.

The meme coin has recently broken free from a period of consolidation, marked by a key Fibonacci level. This breakout signals a shift in sentiment, suggesting that the momentum could be building for a continued rally.

Experts predict that WIF may see a 20% surge, potentially reaching the previous high of $4.80, which has now become a significant support level. If the coin continues its upward trajectory, it may hit the $5 mark in the short term.

READ MORE:
Investor Makes Millions After 1,772% Profit With This Memecoin

Despite the strong rally, WIF’s Relative Strength Index (RSI) is currently at 65, below the overbought threshold of 70, signaling that there is still room for growth. This indicator suggests the coin has the potential to maintain its positive momentum in the coming days.

Alongside the price increase, WIF has seen a marked rise in open interest, which grew by 16% in just 24 hours and 4.2% in the last four hours. This surge in open interest highlights growing confidence among traders, suggesting that more buying activity could be on the horizon.

2

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Why Is the Crypto Market Down Today?

Cointime2025/01/20 15:33

Bernstein says some may cringe, but Trump memecoin is a 'paradigm shift' in US crypto approach

Analysts at Bernstein said that Donald Trump’s official launch of a memecoin represents a “paradigm shift” in how the U.S. and the world will approach crypto.The incoming President’s team launched the TRUMP token late Friday on the Solana blockchain, and at one point, it had a fully diluted valuation of more than $73 billion.

The Block2025/01/20 12:12