Bullish Signs Appear as dogwifhat (WIF) Price Hits Four-Month Low
dogwifhat (WIF) price is seemingly performing to claim the title of the biggest meme coin disappointment.
Investors who are placing bullish bets on the asset are fighting the lack of recovery from market cues.
Dogwifhat Investors Push for a Rally
WIF price is looking at gains as the Chaikin Money Flow (CMF) is currently highlighting a notable surge in inflows. This increase in capital entering the market is generating substantial buying pressure for the meme coin. As inflows rise, it indicates growing investor interest and confidence in WIF, which could potentially drive its price higher.
The increased buying pressure is a positive sign for WIF, suggesting that the market sentiment is becoming more bullish. When the CMF shows higher inflows, it typically correlates with upward price movement, as more investors are willing to purchase the coin. This shift in sentiment can help build momentum and support a potential price rally.
WIF Price Prediction: Taking Back Profits
WIF price is looking at a potential recovery after bouncing off support at $1.52. Currently changing hands at $1.59, the next resistance lies at $1.83. The chances of investors pushing the meme coin to this barrier are high, considering the bullish cues noted on the network.
The aforementioned factors also hint at enough bullishness present in the market to drive the recovery. If the $1.83 resistance is breached, the meme coin would have a shot at reclaiming $2.00 as support.
