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The #Dogwifhat price and the impending short-term trade
The dogwifhat price may be exhibiting rangebound movement.
Within this region, traders may start a trading strategy for the near future.
Between $1.95 and $1.50, $WIF might be a good purchase for long-term investors.
The negative momentum in the Dogwifhat (WIF) market has slowed as it forms a possible range. Looking at this development through a long-term lens might reveal a promising purchasing opportunity.
The dogwifhat price and the impending short-term trade
The price of Dogwifhat has dropped 60% from its peak of $4.85 to its current trading price of $2.60. The meme coin's decline is to be expected after an unprecedented surge that increased WIF's value by 1,587 percent in a span of seven weeks.
The price of Dogwifhat may find support around the $1.95 to $3.26 range on the twelve-hour chart. If this consolidation holds, long-term investors may find it an important level to accumulate. It would be ideal if WIF reaches a bottom and then reverses after a sweep of the $1.95 range low.
Playing the range can be a good short-term strategy. The price may then rise to either the range's midpoint, about $2.54, or its high, $3.26, after a sweeping $1.95. But when looking at the big picture, things change.
When short-term holders are selling out, long-term investors should be buying during liquidations or downturn. Accordingly, a dollar-cost average of $1.95 to $1.50 is perfect from a long-term viewpoint.
In addition, dropping nasty bids below $1.50 is a smart move, particularly in the event of a catastrophic collapse in the cryptocurrency markets like the one in March 2020.
According to the preceding Dogwifhat price research, Bitcoin's price will continue its bull run after the fourth halving event, just as it has done in the past. The halving upgrade occurred a year ago, and now Bitcoin has set off a huge rise. So, if this trend keeps up, cryptocurrencies like Dogwifhat might gain a lot more value and provide good profits.
