đ Crypto News:
- Solana memecoin Dogwifhat (WIF) surged 13% in 1 day, hitting $1.77 on Aug. 6. WIF had previously fallen 63% from a high of $2.89.
- According to data from Cointelegraph Markets Pro and TradingView, WIF rose from $1.07 to $1.77 on Aug. 7, up 66%.
- Total memecoin market cap rose 5.3% despite many major coins falling on Aug. 7 (CoinMarketCap).
- SolanaFloor: "Solana memecoin $WIF is the biggest gainer in the top 100 by market cap."
- WIF is now the 4th largest memecoin, behind Pepe (PEPE) with a market cap nearly double that of WIF ($3.13 billion).
- Analyst Kyledoops: "WIF remains the top altcoin in the Solana ecosystem, despite strong resistance."
- Trader CryptoJack: "WIF price below $1.5 is a 'fake breakout', memecoin quickly returns to range."
- Technical analysis: BTC price is recovering in a V-shape, with two large green candles showing that buyers are in control.
- The $1.50 level is immediate support for WIF. RSI increased from 27 to 38 from August 5 to August 8, indicating that buyers are returning.
- If buying increases from current levels, price may face resistance from the 50-day EMA and 100-day EMA at $2.13 and $2.34, respectively.
- Demand for leveraged WIF long positions is strong, funding rate turned positive after the August 5 sell-off.
- Current funding rate is 0.0066% every 8 hours, which is equivalent to 0.13% per week, which is negligible for futures traders.
đŹ What do you think about the WIF rally? Share your thoughts below!#Crypto#Solana#WIF#BTC
