Dogwifhat Price: The meme cryptocurrency market saw a surge last week, lifting popular assets like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe Coin (PEPE) into a prolonged rally. Among the memecoin frenzy, Dogwifhat, a Solana-based cryptocurrency, emerged as one of the top weekly gainers, soaring from [or_text model=”openai/gpt-3.5-turbo” prompt=”You are a news editor expand and Rewrite the following article, remove references to the source, make sure the generated article is well written, makes sense and is SEO enabled:
Dogwifhat Price: The meme cryptocurrency started witnessing a massive inflow last week, uplighting popular assets like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe Coin(PEPE), into an extended rally. Amid this memecoin euphoria, the Solana-based Dogwifhat also emerged as one of the high weekly gainers rising from $0.285 to the current trading price of $1.214, registering a 315% growth.
Also Read: Who Let the Dogs Out? What Dog-Themed Meme Coins are Rallying?
Dogwifhat’s Triangle Breakout Signals Strong Market Dominance
From early January to late February, the Dogwifhat coin price witnessed a sideway action resonating within two converging trendlines of the triangle pattern. This chart pattern represents a brief consolidation period whose breakout reveals the dominant force in the market.
On February 26th, the WIF price gave a bullish breakout from the triangle pattern, providing buyers with suitable support to lead sustainable growth. The post-breakout rally surged the Dog-themed memecoin by 195% to hit a new all-time high of $1.35.
A recent analysis by Lookonchain has revealed a significant transaction by a cryptocurrency whale, who moved 7,059 Solana ($SOL) worth approximately $918K from Binance to purchase 673,394 of a token referred to as $WIF at $1.36.
This latest acquisition adds to the whale’s previous investment of 16,857 $SOL (around $2M) for 2.82 million $WIF at an average price of $0.71. The combined transactions have resulted in an unrealized profit of approximately $1.35 million for the investor offering retail traders a better conviction for the potential of a prolonged rally.
A whale withdrew 7,059 $SOL($918K) from #Binance to buy 673,394 $WIF at $1.36 again 5 hours ago.
He has spent a total of 16,857 $SOL($2M) to buy 2.82M $WIF at $0.71, and the unrealized profit is ~$1.35M.https://t.co/52fJpbbgRv pic.twitter.com/KoC95S1PwP
— Lookonchain (@lookonchain) March 2, 2024
Also Read: Dogwifhat (WIF) Price Rallies 200% Amid Memecoin Rally, Robinhood Announces Support
Key Support Level to Amid Potential Correction
While the current market outlook projects a bullish trend for Dogwifhat, the ongoing momentum is less likely to continue if not provided with favorable news. If the coin price entered a new correction from $1.35 resistance, the WIF price may plunge to the potential support of $1.05 and $0.86, coinciding with the 23.6% and 38.2% Fibonacci retracement levels
Technical Indicator
- Exponential Moving Average: The fast-moving 20-and-50 EMA slope may act as the first line of defense for coin buyers,
- Average Directional Index: The ADX slope at 39% reflects the Dogwifhat buyers are leading an exhausted rally which may cause a minor pullback to regain strength.
Related Articles
- DOGE, PEPE, FLOKI Price Prediction as Crypto Market Sees Memecoin Euphoria
- Crypto Prices Today: Bitcoin At 62K, Ethereum Above $3400 As SHIB & PEPE
- Pepe Coin (PEPE) Price Shoots 260% In A Week, More Steam Left?
“].285 to its current trading price of .214, marking a remarkable 315% growth.
Dogwifhat’s Triangle Breakout Signals Strong Market Dominance
The price of Dogwifhat followed a sideway pattern within a triangle from early January to late February. This pattern indicated a consolidation phase, with the breakout determining the dominant force in the market. On February 26th, Dogwifhat experienced a bullish breakout from the triangle pattern, leading to a 195% surge in price to reach a new all-time high of .35.
A recent analysis by Lookonchain uncovered a significant transaction by a cryptocurrency whale who transferred 7,059 Solana ($SOL) worth approximately 8K from Binance to purchase 673,394 Dogwifhat tokens at .36. This purchase, combined with previous investments, has resulted in an unrealized profit of around .35 million for the investor, boosting confidence in a sustained rally.
Key Support Level Amid Potential Correction
While the outlook for Dogwifhat remains bullish, sustaining momentum may require favorable news. In the event of a correction from the .35 resistance, the price could retreat to support levels of .05 and [or_text model=”openai/gpt-3.5-turbo” prompt=”You are a news editor expand and Rewrite the following article, remove references to the source, make sure the generated article is well written, makes sense and is SEO enabled:
Dogwifhat Price: The meme cryptocurrency started witnessing a massive inflow last week, uplighting popular assets like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe Coin(PEPE), into an extended rally. Amid this memecoin euphoria, the Solana-based Dogwifhat also emerged as one of the high weekly gainers rising from $0.285 to the current trading price of $1.214, registering a 315% growth.
Also Read: Who Let the Dogs Out? What Dog-Themed Meme Coins are Rallying?
Dogwifhat’s Triangle Breakout Signals Strong Market Dominance
From early January to late February, the Dogwifhat coin price witnessed a sideway action resonating within two converging trendlines of the triangle pattern. This chart pattern represents a brief consolidation period whose breakout reveals the dominant force in the market.
On February 26th, the WIF price gave a bullish breakout from the triangle pattern, providing buyers with suitable support to lead sustainable growth. The post-breakout rally surged the Dog-themed memecoin by 195% to hit a new all-time high of $1.35.
A recent analysis by Lookonchain has revealed a significant transaction by a cryptocurrency whale, who moved 7,059 Solana ($SOL) worth approximately $918K from Binance to purchase 673,394 of a token referred to as $WIF at $1.36.
This latest acquisition adds to the whale’s previous investment of 16,857 $SOL (around $2M) for 2.82 million $WIF at an average price of $0.71. The combined transactions have resulted in an unrealized profit of approximately $1.35 million for the investor offering retail traders a better conviction for the potential of a prolonged rally.
A whale withdrew 7,059 $SOL($918K) from #Binance to buy 673,394 $WIF at $1.36 again 5 hours ago.
He has spent a total of 16,857 $SOL($2M) to buy 2.82M $WIF at $0.71, and the unrealized profit is ~$1.35M.https://t.co/52fJpbbgRv pic.twitter.com/KoC95S1PwP
— Lookonchain (@lookonchain) March 2, 2024
Also Read: Dogwifhat (WIF) Price Rallies 200% Amid Memecoin Rally, Robinhood Announces Support
Key Support Level to Amid Potential Correction
While the current market outlook projects a bullish trend for Dogwifhat, the ongoing momentum is less likely to continue if not provided with favorable news. If the coin price entered a new correction from $1.35 resistance, the WIF price may plunge to the potential support of $1.05 and $0.86, coinciding with the 23.6% and 38.2% Fibonacci retracement levels
Technical Indicator
- Exponential Moving Average: The fast-moving 20-and-50 EMA slope may act as the first line of defense for coin buyers,
- Average Directional Index: The ADX slope at 39% reflects the Dogwifhat buyers are leading an exhausted rally which may cause a minor pullback to regain strength.
Related Articles
- DOGE, PEPE, FLOKI Price Prediction as Crypto Market Sees Memecoin Euphoria
- Crypto Prices Today: Bitcoin At 62K, Ethereum Above $3400 As SHIB & PEPE
- Pepe Coin (PEPE) Price Shoots 260% In A Week, More Steam Left?
“].86, corresponding to the 23.6% and 38.2% Fibonacci retracement levels.
Technical Indicator
– Exponential Moving Average: The 20-and-50 EMA slopes may serve as the initial defense for buyers.
– Average Directional Index: The ADX slope of 39% indicates that buyers are leading an exhausted rally, potentially leading to a minor pullback to regain strength.
As the memecoin market experiences euphoria, with coins like DOGE, PEPE, and FLOKI rallying, the crypto community eagerly anticipates further developments in the space. Bitcoin hovers around K, with Ethereum surpassing 00, while Pepe Coin (PEPE) continues its upward trajectory, signaling more potential upside in the near future.
