Dogwifhat Price Rises: What is the Reason Behind the Rise?

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Solana based meme coin dogwifhat (WIF) experienced a big jump on Wednesday, gaining more than 20% in value. This increase is interpreted as altcoins gaining upward momentum as Bitcoin recovers in an environment of stable price movement. The sudden price increase is supported by a 70% increase in trading volume, encouraging accumulation among traders.

Dogwifhat (WIF) is up over 20% in the last 24 hours to $3.39, representing the highest level of the day. WIF price has been on the rise after experiencing multiple breakouts on Wednesday, with analysts seeing signs of a possible breakout occurring in the last 24 hours. stated.

After remaining sideways for a week, fluctuating between $2.8 and $3, WIF broke above the $3.1 resistance level. The two-week ascending triangle formation and the breakout of the resistance level triggered an upward momentum in the WIF price, possibly allowing it to move above the descending trend line. Traders and analysts observed the formation of multiple formations and the break of this formation, resulting in a more than 20% increase in WIF price.

Trader Ansem shared that Bluntz Capital confirmed the breakout of the two-week ascending triangle on Dogwifhat. This caused investors to expect a resurgence in the WIF price and created a huge excitement in the crypto community. WIF gained over 51% in April.

WIF price confirmed the trend line with a breakout and retested at $3.2 to provide investors with a buying opportunity in WIF price. This is Dogwifhat meme coinIt might be a suitable level to get .

In the last 24 hours, WIF price has increased by over 20% and is currently trading at $3.38. The lows and highs are $2.75 and $3.38 respectively. Additionally, trading volume increased by 75% in the last 24 hours, indicating increased interest among traders.

The rally could extend as much as 35% to $4.2. However, low trading days can be expected this week due to the crypto market ending and other macro data.


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