Dogwifhat (WIF) Price Skyrockets Over 25%, Here’s Why

Solana meme coin dogwifhat (WIF) price saw a massive 25% upsurge on Wednesday, preparing for upside momentum as altcoins rebound amid stable Bitcoin price action. The sudden price jump backed by a 70% increase in trading volume sparked accumulation by whales including trader Ansem.

Dogwifhat Saw Multiple Breakouts

Solana-based meme coin dogwifhat has skyrocketed over 25% in the last 24 hours, with the price hitting a 24-hour high of $3.55 on April 24. WIF price witnessed an upsurge after multiple breakouts on Wednesday, analysts even pointed out a possible breakout a day before.

Kinda think $WIF sends here pic.twitter.com/KGErfCfSOZ

— The Crypto Dog 📈 (@TheCryptoDog) April 23, 2024

After trading sideways for a week, consolidating between $2.8-$3, Dogwifhat (WIF) saw a breakout above the resistance level at $3.1. The 2-week long ascending triangle and resistance level breakout triggered an upside momentum in WIF price to possibly break above the descending trendline. Traders and analysts saw multiple pattern formation and it’s breakout, resulting in a more than 20% jump in WIF price.

Ansem shared trader Bluntz Capital’s post on the confirmation of a 2-week long ascending triangle breakout in dogwifhat. This sparked a lot of excitement in the crypto community with investors going bullish on WIF price again. Dogwifhat (WIF) has recorded over 51% rally in April.

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WIF Price Can Rally 35%

WIF price has confirmed a breakout and retested the trendline, giving investors a buy opportunity in WIF price, with an entry at $3.2. This will be the best level to buy dogwifhat meme coin.

WIF price jumped over 25% in the past 24 hours, with the price currently trading at $3.52. The 24-hour low and high are $2.75 and $3.55, respectively. Furthermore, the trading volume has increased by 118% in the last 24 hours, indicating a rise in interest among traders.

The rally can extend to 35% to hit a price of $4.2. However, low trading days can be expected due to crypto market expiry and other macro data this week.

Also Read: Can FTX’s Solana Auction This Week Put Breaks to SOL Price Surge?

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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.