The post Dogwifhat (WIF) Price Soars 60% This Week, Eyes $3 This August? appeared first on Coinpedia Fintech News
Amid ongoing market volatility, the Solana price has recorded a surge of approximately 30% within the past seven days. Following this, top SOL-based altcoins have successfully regained momentum and have displayed a similar price action.
On the other hand, Solana chain’s most successful memecoin, the Dogwifhat (WIF) price has surged over 61% during this period, highlighting an increase in the bullish sentiment for the memecoin in the crypto market.
With the rising bullish influence, is this the right time to stack up more WIF tokens as it hints at a potential surge toward its $3 level during the upcoming weeks?
Dogwifhat Price Records Increased Price Action:
The WIF coin price continues trading under a bullish influence despite an increase in the selling pressure within the crypto market. Notably, this memecoin has jumped approximately 1% within the past day and 61.86% over the past week. Furthermore, it has a YTD return of over 1,100%.
TradingView: WIF/USDT
With a trading price of $1.797 and a circulating supply of 998,845,608 WIF tokens, this memecoin has secured the 47th position in the global cryptocurrency market list with a market capitalization of $1.802 Billion.
The technical indicator, RSI, shows a sharp rise toward the mid-point, indicating increased buying-over-selling pressure for the WIF meme coin within the crypto market.
Further, the MACD displays a significant drop in the red histogram with its averages on the verge of recording a bullish convergence in the 1D time frame. This highlights a positive outlook for the Dogwifhat price in the coming time.
Will WIF Price Rise Back Up?
If the bulls regain momentum, the WIF coin price will test its resistance level of $2.10. Maintaining the price at that level will set the stage for this memecoin to head toward its upper resistance level of $3.050 during the upcoming weeks.
On the flip side, if the bears overpowered the bulls, the Dogwifhat price will retest its crucial support trendline of $1.240.
