COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Dogwifhat Price Increases by 34% in a Week
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Meme Token > Dogwifhat Price Increases by 34% in a Week
Meme Token

Dogwifhat Price Increases by 34% in a Week

In Brief

  • Dogwifhat price grew by 34% in the last week.

  • Futures trading open interest increased by 38% in 7 days.

  • Spot market shows a downward trend despite price rise.

COINTURK NEWS
COINTURK NEWS 12 months ago
Share
SHARE

Dogwifhat (WIF) price experienced noticeable growth in the last 7 days. The price growth in the last 7 days reached 34%, resulting in the price trading at 3.80. When examining the price movements of the cryptocurrency over the last 3 days, it was observed that it moved within a channel model since April 12, encountering resistance at 3.64 dollars and finding support at 2.32 dollars.

Contents
Will Dogwifhat Rise?WIF Price Prediction

Will Dogwifhat Rise?

WIF’s open interest in futures trading saw a clear increase last week. As of the time of writing, the meme coin’s open interest in futures trading was seen at 434 million dollars, with a 38% increase over the last 7 days.

To explain what WIF’s open interest in futures trading is, it would be correct to state that it is the measurement of the total number of open futures contracts that have not yet been closed. The increase in this indicator reveals that there is a rise in the number of traders entering the futures market and opening positions for the asset under review.

When examining the funding rate emerging on the WIF side, the indicators show that investors are taking long positions. As of the time of writing, the rate indicated by the indicator was 0.007%.

To briefly explain the funding rate, it can be said that it is used to keep the contract price in perpetual futures trading close to the spot price. If the mentioned rate has a positive value, it indicates strong demand for long positions.

The increase in WIF’s open interest rate in futures trading and the positive funding rate reveal that participation in the futures market has increased due to the dominant upward trend in the meme coin market. This situation allows investors or institutions to observe an optimistic outlook regarding the future price of the asset under review, leading to the opening of more long positions.

WIF Price Prediction

Despite the upward trend in WIF’s futures market, similar sentiments are not seen in the spot market. Despite the price increase in the token last week, a downward trend in the Chaikin Money Flow (CMF) indicator did not go unnoticed. The CMF indicator reveals the money flows entering and exiting the WIF market.

If a cryptocurrency’s price continues to rise while its CMF declines, a downward breakout may occur. This can be interpreted as the buying volume in the market not being strong enough to sustain the growth despite the price increase. This situation can be seen as a sign that prices may reverse or correct in the coming periods.

If selling pressure possibly surpasses the buying outlook, WIF’s attempt to move above the upper line of the horizontal channel may fail, and the price may fall to 3.19 dollars. However, if the current rally faces more demand for WIF, it can be seen that the meme coin maintains stability above the 3.68 dollar level.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Meme Coins Face Major Setbacks as Market Takes a Hit

Elon Musk Spurs Unprecedented KEKIUS Token Price Surge with Social Media Update

Pepe Coin Dominates the Market with Spectacular Gains

Mark Cuban Warns Donald Trump’s Memecoin Could Harm Crypto Reputation

Memecoin Craze Captivates Crypto Enthusiasts: Explosive Social Media Buzz

COINTURK NEWS 28 May, 2024 - 7:02 pm 28 May, 2024 - 7:02 pm
Share This Article
Facebook Twitter
Share
Previous Article Developers Use The Graph (GRT) to Access Blockchain Data Efficiently
Next Article Crypto Investors Face Market Fluctuations
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Experience Enhanced Functionality with XRPL’s New Batch Feature
Ripple (XRP)
Engage with the Bitcoin 2025 Conference in Las Vegas!
Bitcoin (BTC) Cryptocurrency News
Polygon Faces Leadership Shift as Co-Founder Mihailo Bjelic Exits
Polygon (MATIC)
Bitcoin Price Spike Creates Waves in Cryptocurrency Market
Cryptocurrency News
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?