Dogwifhat Price Prediction: WIF Surges 60% And Shows No Signs of Slowing Down as It Attempts to Set a New High

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The Dogwifhat price jumped more than 60% over the past 24 hours to trade at $0.3304 at press time as investors bet big on the meme coin.

The Dogwifhat Price Could Pull Back Before Launching

4-hour chart for WIF/USDT (Source: TradingView)

The Dogwifhat price has printed a series of higher highs and higher lows over the past 24 hours, which has resulted in the formation of a positive price channel. If this bullish move continues, the meme coin may attempt to flip the $0.34730 resistance level into support.

On the other hand, a rejection from this threshold could lead to a retracement in the Dogwifhat price. In this bearish scenario, the crypto’s value may drop to the positive trend line that has formed on the altcoin’s chart over the past few days. This could lead to the Dogwifhat price dropping to the immediate support at $0.25290 in the next 48 hours.

This bullish thesis may be invalidated if WIF drops below the $0.25290 support level. In this bearish scenario, the meme coin could be at risk of correcting to the subsequent support level at $0.18220 in the short term.

Technicals Show Bulls Are Supporting WIF

Technical indicators on WIF’s 4-hour chart suggested that the Dogwifhat price may continue to rise in the next 48 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators were flagging bullish.

The MACD line was breaking away above the MACD Signal line, which indicates that WIF’s positive trend shows strong signs of continuing over the next few days. In addition to this, the RSI was breaking away above its Simple Moving Average (SMA) line. This is generally seen as a sign that buyers are growing stronger against sellers. As a result, it may be easier for bulls to push the Dogwifhat price up in the next few days than it will be for sellers to drag it down.

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Author

Steven Walgenbach

Steven's passion for cryptocurrency and blockchain technology began in 2014, inspiring him to immerse himself in the field. He notably secured a top 5 world ranking in robotics. While he initially pursued a computer science degree at the University of Texas at Arlington, he chose to pause his studies after two semesters to take a more hands-on approach in advancing cryptocurrency technology. During this period, he actively worked on multiple patents related to cryptocurrency and blockchain. Additionally, Steven has explored various areas of the financial sector, including banking and financial markets, developing prototypes such as fully autonomous trading bots and intuitive interfaces that streamline blockchain integration, among other innovations.

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