Today, on July 22, 2024, Solana-based Dogwifhat (WIF) and Dogecoin (DOGE) have gained massive attention from investors and traders following a significant price surge in the last 24 hours. According to CoinMarketCap, both WIF and DOGE are leading the crypto meme industry, having experienced price surges of over 8% and 10%, respectively.
WIF and DOGE leading the meme sectors
The reason behind this massive price surge is the recent breakout and retest of the bullish double-bottom price action pattern, coupled with the breakout of a major resistance level. This bullish momentum has caught the attention of traders and investors, driving substantial interest in both WIF and DOGE. Additionally, this surge occurred while the overall crypto market was down by 2.2%.
However, investors and traders also showed strong interest in these meme coins, as their Open Interest rose by over 5% and 15% in the last 24 hours, according to data from on-chain analytics firm CoinGlass.
According to Coinmarketcap, WIF is currently trading near $2.83 and it experienced a price surge of over 8% in the last 24 hours. Whereas, in the last last 7 days WIF has experienced a price surge of over 50% as its price soars from $1.82 to $2.83.
With WIF’s impressive price surge in the last 24 hours, traders and investors have strongly participated in WIF as its trading volume has risen by 35%.
WIF technical analysis and key levels
According to expert technical analysis, WIF is looking bullish as it gave a breakout of a bullish price action pattern. The WIF daily chart signals that there is a high possibility that it can hit the $3.9 level or more in the coming days. Additionally, Solana ETF speculation also impacts the price of WIF as it is one of the top meme coins which is based on Solana Network.
Whereas, DOGE is currently trading near $0.142 and it experienced a price surge of over 10% in the last 24 hours. Meanwhile, it has experienced a 20% price surge in the last 7 days, and its price has risen from $0.11 to $0.14 in the same period.
Additionally, investors’ and traders’ participation also rose as its 24-hour trading volume surged by 30%.
DOGE technical analysis and key levels
According to expert technical analysis, DOGE is also looking bullish and there is a high chance that it can hit the $0.17 level and $0.20 level. Besides this, it is moving above the 200 Exponential Moving Average (EMA) which also signals bullishness in the chart.
Besides WIF and DOGE, the overall cryptocurrency market is turning bullish, and major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and many others have also experienced massive price surges in the last 7 days. According to coinmarketcap, BTC, ETH, and SOL have experienced a price surge of over 8%, 5%, and 18% respectively, in the last 7 days.
