According to Cointelegraph, analysts have discovered a potential reversal pattern, with increased trading volume for the meme coin Dogwifhat futures on Solana. Since August 31, Dogwifhat futures open interest has increased by 16% to $231.48 million.
Meanwhile, Dogwifhat has fallen 17% since August 25 and is currently trading at $1.57, having been below $1.90 for ten consecutive days. Some traders believe the price will rebound to $2.40.
Since September 4, Dogwifhatâs total trading volume has reached $327.6 million, about twice that of Shiba Inu. Analysts believe Dogwifhat is ready for the next wave of growth.
Dogwifhat had a strong start to the year but has since lost momentum, with prices falling nearly 66% from its all-time high of $4.70 on March 31. Despite this, analysts remain optimistic about its future performance.
