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Dogwifhat (WIF) has garnered significant attention since its introduction to the cryptocurrency markets and may be preparing to enter the single-digit price range. Dogwifhat price analysis shows an 8.3% increase in the last 24 hours, potentially sparking renewed interest among crypto investors.
Resistance Zone in WIF
WIF’s price is $3.24, representing a 15.5% increase over the past 7 days. The Dogwifhat price chart shows a bullish trend on a macro level. Since being listed on Binance, the price action has consistently reached higher lows, consistent with an upward trend.
Currently, the WIF price is in an ascending triangle, having already tested the upper boundary twice. However, breaking this resistance around $3.5 may be difficult after two rejections. Dogwifhat’s price is above the 50-day and 200-day simple moving averages, but recent price action has been closely intertwined with these indicators.
Crypto analysts are optimistic about the WIF price, predicting a breakout and a rise to around $50. Popular crypto analyst Crypto Scient predicts a $50 price target for WIF based on the daily bull flag formation.
Expert Commentary on WIF
Additionally, experts believe that the daily chart shows a bull flag for WIF price action, with a potential 120% increase if a breakout occurs. This could bring the price of WIF to around $7.5. The flag is expected to break within about a week, providing clarity to investors on Dogwifhat’s future price direction. If WIF rises, key resistance points could be around $4.1, $5.7, and $6.8.
Conversely, a scenario where the meme token breaks downward could occur. Key support areas to watch in the crypto currency could be $2.5, $1.4, and $0.33. The increase in WIF prices occurred when a Solana whale spent 17,966 SOL to purchase 953,177 WIF. The whale entered at approximately $3.13 and has currently gained a 3.51% profit. The whale alone caused the WIF price to rise by about 7%.
