Solana memecoin Dogwifhat ($WIF ) has attracted attention due to whales’ back-end enrichment purchases.

In the last two weeks, two whale addresses have purchased a total of 20.58 million WIF (equivalent to 33.35 million). These purchases have increased the durations for #WIF Onchain metrics have recently highlighted two addresses that have collected a large number of WIF from Binance and Bybit exchanges. September is known to have been a weak market performance. WIF collectors may have seen this period as an opportunity.

dogwifhat (WIF) is blinking to rise The price chart is showing a breakout from the long-term falling wedge formation. The memecoin has been priced in a downtrend since April 2024. However, the recent price action has shown the beginning of a double bottom move. This could lead to a price increase.

Technical indicators such as the Moving Average (MACD) and the Relative Strength Index (RSI) are also showing positive signs for an upward move, which is unlikely to be broken.

Analysts believe that if WIF can continue its current trend, it could easily break above $2 and continue to rise.

On the 4-hour chart, dogwifhat has broken out of the triangle and broken above the 200-day exponential moving average. This breakout provided further upward pressure, with analysts focusing on the Fibonacci levels of $2.04 and $2.52. If this trend continues, the key resistance could easily be overcome. Memecoin investors are eagerly following the price action in WIF.

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