Dogwifhat (WIF), the fourth largest meme token by market cap, is on a strong upward trajectory, having gained more than 12.97% again in the past 24 hours. At press time, Dogwifhat (WIF) is priced at $3.25 with a market cap of $3.24 billion, just one step away from surpassing PEPE Coin to become the third largest meme coin in the market.

Dogwifhat (WIF) Whale Accumulation

According to Lookonchain insights, a major transaction took place 5 hours ago, where a whale spent 4.2 million USDC to buy 1.4 million WIF tokens at $2.99. This whale has a history of early transactions with WIF tokens and has accumulated more than $8 million through these.

The recent surge in Dogwifhat’s price has undermined broader market expectations of a price drop. Additionally, the behavior of whales has also shifted the market’s focus toward bullish expectations.

It is expected that the Dogwifhat (WIF) price will continue to rise if the bulls attack further. When examining the potential resistance area, the upper Bollinger Band indicator identifies the $3.40 area as an upcoming important hurdle. As expected, a clear breakout of this resistance level could push the WIF price above $4.

On the downside, $2.5 currently remains as a major support. A break below this could lead to the bears taking the upper hand.

(Personal opinion, not a recommendation)

In the crypto industry, if you want to seize the next bull market opportunity, you need to have a high-quality circle and maintain insight. If you are alone, looking around and finding no one, it is actually very difficult to persist in this industry. Follow the homepage~

If you like it, please follow us for more articles.

Thanks for reading! See you next time!