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It's Big & Big #alert About $WIF Hits To $3 After Breakout !!!
Dogwifhat Price Analysis Hints $3 Breakout as Whale Activity Fuels Bullish Sentiment.
Dogwifhat Price Analysis: WIF coin is consolidating within a triangle pattern, with significant whale purchases signaling bullish momentum. A breakout could push the price to $3.70 or higher.
On Monday, the cryptocurrency market witnessed a minor uptick as the BTC showed sustainability above the $66,000 mark and jumped 1.2%.
A majority of major altcoins were able to mirror this momentum including the Solana-based memecoin Dogwifhat. The coin price is up 5% and rebounded from the crucial support of the triangle pattern, signaling a significant recovery ahead.
Over the past two months, the Dogwifhat coin traded sideways resonating within the two converging trendlines of the triangle patterns.
The dynamic support and resistance greatly influence the WIF price movement squeezing it into a narrow range. This chart setup is commonly viewed as a short consolidation for an asset to have sufficient momentum to continue the prevailing trend.
Lookonchain, an on-chain data tracker, has identified a significant whale purchase of $WIF tokens. The whale created a new wallet and withdrew 1.83 million USDC from Coinbase, aiming to acquire $WIF. So far, the whale has spent $606,000 USDC to buy approximately 227,896 WIF average price of $2.66.
This transaction leaves the whale with a remaining balance of $1.22 million $USDC, indicating that the purchase process is still ongoing.
The continuous accumulation of WIF by the whale points towards a strong bullish sentiment, possibly driving up the token’s value in the market.
As per the technical chart, the Dogwifhat needs an upside breakout from the triangle pattern to release the build-up bullish momentum. The post-breakout rally could drive a rally to $3.7, followed by $4.86.
