dogwifhat: Is now the time to buy? WIF whales drop major hints #majorupdate #Dogwithhat
dogwifhat's show of strength, whale activity and positive Bitcoin correlation suggest future gains.
• Largest WIF holders adds another $1M worth of tokens.
• Now might be the best time to buy some WIF, market indicators say!
dogwifhat [WIF] quickly attracted investor interest, becoming one of the top memecoins by market cap. With a yearly return on investment exceeding 816%, WIF continues to enjoy significant whale activity.
The largest WIF holder recently borrowed 1.4 million USDC, using 1 million USDC to purchase 643,832 WIF at $1.55, following a previous purchase of 800,556 WIF worth $1.54 million at $1.92.
This whale held 28.66 million WIF at press time, valued at $44.13 million, with a profit of $65.6 million, raising curiosity among traders looking to replicate this success.
WIF shows strength against other top-cap memes
With memecoins, whale activity drives them, WIF’s current market retracement after hitting $2 raises the question of whether now is a good time to buy.
In the summer of 2024, WIF consistently made higher lows against competitors like Pepe [PEPE] and Bonk [BONK], suggesting it may be one of the top performers this cycle.
The WIF/PEPE pair was consolidating at press time, with tightening Bollinger Bands signaling a potential breakout.
While WIF’s price action places it in a strong buying position, caution is advised if the price breaks to the downside.
Despite this, WIF;s relative strength, compared to other memecoins, indicated that it could outperform once market conditions improve.
Holding all three—WIF, PEPE, and BONK—could be a strategic move, but WIF resilience makes it a particularly compelling choice.
Liquidation levels
Analyzing WIF technical chart and surging whale activity reveals critical liquidation levels essential for traders.
Key liquidity clusters exist below the $1.5 price level and above $2, marking these as crucial zones.
