2024

USDC

Coin

<p>Dogwifhat (WIF), the fourth largest meme coin by market cap, is on a strong upward trajectory once again gaining over 12.97% in the last 24 hours. As of press time, the Dogwifhat (WIF) price is trading at $3.25 with a market cap of $3.240 billion, and is just short of overtaking PEPE Coin as the third-largest meme coin in the market.</p>
<h3 id="dogwifhat-wif-whale-accumulation">Dogwifhat (WIF) Whale Accumulation</h3>
<p>According to insights from Lookonchain, a significant transaction occurred five hours ago, with a whale spending 4.2 million USDC to purchase 1.4 million WIF tokens at a price of $2.99. This particular whale has a history of early trading with WIF tokens and has accrued a total profit of over $8 million through these transactions.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">A whale spent 4.2M <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$USDC</a> to buy 1.4M <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$WIF</a> at $2.99 5 hours ago.</p>
 <p>This whale was an early trader of <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$WIF</a> and made a total profit of more than $8M on <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$WIF</a>.<a href="https://t.co/UWIt3TBsVQ" rel="noopener noreferrer nofollow">https://t.co/UWIt3TBsVQ</a> <a href="https://t.co/KYAsIZJ7AG" rel="noopener noreferrer nofollow">pic.twitter.com/KYAsIZJ7AG</a></p>
 <p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1788772201132708055?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 10, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>The recent Dogwifhat price surge has spoiled the broader market expectations of a price drop. Moreover, the whale has played a spoilsport making investors turn their heads towards bullish expectations.</p>
<h3 id="a-look-into-the-derivative-market">A Look Into the Derivative Market</h3>
<p>Investors in the derivatives markets continue to inject more capital into WIF futures contracts for Dogwifhat, fueled by optimism that Solana’s coveted meme coin will resume its upward trajectory in the near future.</p>
<p>Data from <a rel="noopener noreferrer nofollow" href="https://www.coinglass.com/currencies/WIF" target="_blank">Coinglass</a> shows that the open interest has surged by 8.6% to $333 million. Rising open interest indicates fresh capital entering the market or additional investments being made. This means that more traders are willing to take long positions on the WIF price. Within the past 48 hours, WIF derivatives traders have reinforced their positions with over $5 million in capital inflows.</p>
<p>On the other hand, there have been $1.1 million in Dogwifhat liquidations over the past 24 hours. Of these, $753.5K have been liquidated in short positions.</p>
<p>Investors are expecting the Dogwifhat (WIF) price rally to continue if the bulls strike further. Examining potential resistance areas, the upper band Bollinger indicator pinpoints the $3.40 territory as the upcoming significant hurdle. A definitive breakthrough from this resistance cluster could propel the WIF price above $4, as anticipated.</p>
<p><img decoding="async" class="aligncenter size-full wp-image-196209" src="https://coingape.com/wp-content/uploads/2024/05/WIFUSD.png" alt="" width="2414" height="1080" srcset="https://coingape.com/wp-content/uploads/2024/05/WIFUSD.png 2414w, https://coingape.com/wp-content/uploads/2024/05/WIFUSD-300x134.png 300w, https://coingape.com/wp-content/uploads/2024/05/WIFUSD-1224x548.png 1224w, https://coingape.com/wp-content/uploads/2024/05/WIFUSD-768x344.png 768w, https://coingape.com/wp-content/uploads/2024/05/WIFUSD-1536x687.png 1536w, https://coingape.com/wp-content/uploads/2024/05/WIFUSD-2048x916.png 2048w, https://coingape.com/wp-content/uploads/2024/05/WIFUSD-150x67.png 150w" sizes="(max-width: 2414px) 100vw, 2414px"></p>
<p>On the downside, $2.5 remains a major support as of now. Breaking this below can lead to bears taking the upper hand.</p>
<p>The post <a href="https://coingape.com/dogwifhat-wif-price-shoots-13-amid-whale-accumulation-more-steam-left/" rel="noopener noreferrer nofollow">Dogwifhat (WIF) Price Shoots 13% Amid Whale Accumulation, More Steam Left?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.</p>

Dogwifhat (WIF) Price Shoots 13% Amid Whale Accumulation, More Steam Left?

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