Shiba

Pepe

Solana

Dogecoin

Shiba Inu

Dogwifhat Price: The meme cryptocurrency started witnessing a massive inflow last week, uplighting popular assets like <a href="https://coingape.com/markets/dogecoin-price-prediction-doge-exits-22-months-accumulation/" rel="noopener noreferrer nofollow">Dogecoin</a> (DOGE), Shiba Inu (SHIB), and Pepe Coin(PEPE), into an extended rally. Amid this memecoin euphoria, the Solana-based Dogwifhat also emerged as one of the high weekly gainers rising from $0.285 to the current trading price of $1.214, registering a 315% growth.
Also Read: <a href="https://coingape.com/blog/who-let-the-dogs-out-what-dog-themed-meme-coins-are-rallying/" rel="noopener noreferrer nofollow">Who Let the Dogs Out? What Dog-Themed Meme Coins are Rallying?</a>
<h2 id="b-dogwifhat-s-triangle-breakout-signals-strong-market-dominance-b">Dogwifhat’s Triangle Breakout Signals Strong Market Dominance</h2>
<img decoding="async" src="https://s3.tradingview.com/snapshots/y/YMmeWKE1.png" alt="MEXC:WIFUSDT Chart Image by sahilmahadik07">
From early January to late February, the <a href="https://coingape.com/dogwifhat-wif-bitmex-arthur-hayes-predicts-wif-price-to-hit-2/" rel="noopener noreferrer nofollow">Dogwifhat coin price</a> witnessed a sideway action resonating within two converging trendlines of the triangle pattern. This chart pattern represents a brief consolidation period whose breakout reveals the dominant force in the market.
<blockquote>
 On February 26th, the WIF price gave a bullish breakout from the triangle pattern, providing buyers with suitable support to lead sustainable growth. The post-breakout rally surged the Dog-themed memecoin by 195% to hit a new all-time high of $1.35.
</blockquote>
&nbsp;A recent analysis by Lookonchain has revealed a significant transaction by a cryptocurrency whale, who moved 7,059 Solana ($SOL) worth approximately $918K from Binance to purchase 673,394 of a token referred to as $WIF at $1.36.&nbsp;
This latest acquisition adds to the whale’s previous investment of 16,857 $SOL (around $2M) for 2.82 million $WIF at an average price of $0.71. The combined transactions have resulted in an unrealized profit of approximately $1.35 million for the investor offering retail traders a better conviction for the potential of a prolonged rally.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 A whale withdrew 7,059 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a>($918K) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> to buy 673,394 <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$WIF</a> at $1.36 again 5 hours ago.
 He has spent a total of 16,857 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a>($2M) to buy 2.82M <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$WIF</a> at $0.71, and the unrealized profit is ~$1.35M.<a href="https://t.co/52fJpbbgRv" rel="noopener noreferrer nofollow">https://t.co/52fJpbbgRv</a> <a href="https://t.co/KoC95S1PwP" rel="noopener noreferrer nofollow">pic.twitter.com/KoC95S1PwP</a>
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1763807929847988488?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 2, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Also Read: <a href="https://coingape.com/dogwifhat-wif-price-rallies-200-amid-memecoin-rally-robinhood-announces-support/" rel="noopener noreferrer nofollow">Dogwifhat (WIF) Price Rallies 200% Amid Memecoin Rally, Robinhood Announces Support</a>
<h2 id="b-key-support-level-to-amid-potential-correction-b">Key Support Level to Amid Potential Correction</h2>
While the current market outlook projects a bullish trend for Dogwifhat, the ongoing momentum is less likely to continue if not provided with favorable news. If the coin price entered a new correction from $1.35 resistance, the <a href="https://coingape.com/dogwifhat-wif-price-rally-this-trader-turns-310-to-3-12-million-in-3-months/" rel="noopener noreferrer nofollow">WIF</a> price may plunge to the potential support of $1.05 and $0.86, coinciding with the 23.6% and 38.2% Fibonacci retracement levels
<h2 id="b-technical-indicator-b">Technical Indicator&nbsp;</h2>
<ul>
 <li style="font-weight: 400;" aria-level="1">Exponential Moving Average: The fast-moving 20-and-50 <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/" rel="noopener noreferrer nofollow">EMA</a> slope may act as the first line of defense for coin buyers,</li>
 <li style="font-weight: 400;" aria-level="1">Average Directional Index: The ADX slope at 39% reflects the Dogwifhat buyers are leading an exhausted rally which may cause a minor pullback to regain strength.&nbsp;</li>
</ul>
The post <a href="https://coingape.com/markets/whats-next-for-dogwifhat-price-after-300-weekly-surge/" rel="noopener noreferrer nofollow">What’s Next For Dogwifhat Price After 300% Weekly Surge</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

What’s Next For Dogwifhat Price After 300% Weekly Surge

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