#Dogwifhat ( $WIF ) still able to grow despite a 10% decline

The intense price rally of Dogwifhat (WIF) has made memecoin the best performing altcoin. Over the past week, WIF has increased by almost 27%.

This upward trend continues. Therefore, investors hope that the funny memecoin will soon bring even more profits.

Dogwifhat owners remain optimistic

If the WIF price squandered the potential to close above $4.00, it would be a major blow. It would prevent memecoin from setting a new all-time high (ATH). However, this did not discourage investors from maintaining hope for a rebound and further growth.

Overall weighted sentiment among Dogwifhat holders is currently positive. This is the first positive case in almost two months. The last time WIF investors were bullish was in early April when the altcoin reached an ATH of $4.85.

The market is also supporting potential growth, as seen in the Average Directional Index (ADX). The Average Directional Index (ADX) measures trend strength on a scale of 0 to 100, with values ​​above 25 indicating a strong uptrend.

Given that ADX is above the 25.0 threshold, the uptrend is gaining strength. Moreover, this may strengthen in the future unless WIF investors decide to sell their coins.

WIF Price Forecast: Rebound Awaiting

WIF price at $3.49 is still above the 50-day exponential moving average (EMA). This is a key line of support. A drop below this level would indicate further price decline. However, with investors and the market supporting the rally, Dogwifhat could close above the resistance at $3.62.

Such a close would allow for a rally to $4.00 and above. However, if memecoin closes above $4.22, it could quickly generate new ATH.

However, if the WIF price fails to close above $3.62, a decline could occur.