Dogwifhat is showing a significant comeback now under a strong favorable trend. The bulls have seized control as the week goes on, proving their tenacity with a 20% price rise, therefore driving Dogwifhat to a market value of $2.15. This amazing surge over the past week amounts to a 25%.

Meme Coins on the Move: Dogwifhat Leads the Pack

The majority of Solana meme currencies are on the move, with dogwifhat being the biggest asset. Bonk experienced a 24-hour rise of 8% and remained at $0.00002625.

Popcat, the third-largest ecosystem’s meme coin, is currently trading at $0.83 after surging 16% in only the same time frame. A few other tokens that are doing incredibly well are $MICHI, BOME, MEW, MYRO, and others.

Source: TradingView

Maintaining Dogwifhat’s price’s upward trend could help it to surpass its market worth over the $1 billion barrier, thereby moving it into the top 20 from its current ranking of 44, according CoinMarketCap statistics.

Bulls have been especially positioned themselves throughout the significant early June and first two-week drop in July. Showing a double-bottom pattern implying future expansion, the $1.5 price support level has acted as a launching pad for the current valuation of $2.15.

Market Watchers Anticipate a Comeback

Forecasting Dogwifhat would gather enough liquidity to overcome resistance levels at $2 and $2.5, market watchers had expected a comeback from the $1.5 level.

Dogwifhat has exceeded important Exponential Moving Averages (EMAs), including the 20-day and 200-day EMAs, indicated in blue and purple respectively, with recent price gains.

Now, bulls are concentrating on turning the 50-day EMA into a support level—a necessary action to maintain the present increasing trajectory. A daily close above this level could inspire a more aggressive buying attitude, hence generating possibly more optimistic activity than bearish in the next days.

Overcoming the $2.5 resistance could set off a FOMO (Fear of Missing Out)-driven surge aiming at the all-time high of $4.85. Bulls also have to break over the declining trendline barrier in order to completely free the bearish restrictions that have reigned lately.

RSI Signals Potential for Increased Buy Orders

The Relative Strength Index (RSI), which right now shows a neutral value of 56, supports the possibility of higher buy orders. Should the RSI keep rising into the overbought area, it may draw additional investors hoping for Dogwifhat’s comeback to hitherto unheard-of heights.

Technically, the Bollinger Band Indicator shows an increase in its upper border, indicating that the bullish trend is maintained; the midline provides regular support during pullbacks.

The average directional index (ADX) slope at 25% highlights, meanwhile, how much leeway the general positive momentum has to run before running out.

Key elements to keep an eye on in the next days include keeping support above the 50-day and 20-day EMAs as well as, importantly, the $2 level. These components are essential for Dogwifhat’s valuation to show a significant turnaround since the market environment favors the bulls.

Will Dogwifhat Break the $1 Billion Barrier?

Closing in on a market value of $1 billion, Dogwifhat marks a turning point that would propel it into the top 20 cryptocurrencies were sustained. Ranked 44th right now, Dogwifhat’s meteoric climb has drawn everyone’s attention.

Dogwifhat must hang onto the $2 support level and build on its increases above the 50-day and 20-day Exponential Moving Averages (EMAs) if it is to maintain current momentum.

Overcoming the $2.5 resistance might set off a buying frenzy as investors worry about missing out on the action and might thus drive the price towards its all-time high of $4.85. To completely release bearish pressures, nevertheless, one must reverse the declining trendline.

The bullish view is supported by technical indicators such as the RSI and Bollinger Bands, and the ADX indicates that there is considerable room for strong momentum to continue.

These variables will be monitored by investors in order to assess Dogwifhat’s chances of continuing its remarkable rise and reaching the billion-dollar mark.

The post Dogwifhat Price Prediction July 2024 – Dogwifhat’s Dramatic Surge: Will It Break the $1 Billion Barrier? appeared first on Coinfomania.