dogwifhat

Rally

2024

USDC

dogwifhat Price Analysis: Defying the broader market uncertainty, the Dogwifhat coin was notably bullish this week. From the $2.49, the canine memecoin jumped nearly 30% to hit a high of $3.24. An analysis of the daily chart shows this upswing developed within a triangle pattern formation— a chart setup known to bolster prolonged recovery trends. With the <a href="https://coingape.com/price-predictions/ethereum-eth-price-prediction/" rel="noopener noreferrer nofollow">Ethereum price</a> showing sustainability above $3600, several altcoins including Dogwifhat show potential for higher rebound.
Also Read: <a href="https://coingape.com/ethereum-etfs-may-propel-eth-to-record-highs-says-bitwise-cio/" rel="noopener noreferrer nofollow">Ethereum ETFs May Propel ETH to Record Highs, Says Bitwise CIO</a>
<h2 id="b-strategic-whale-trades-signal-potential-upsurge-for-dogwifhat-coin-b">Strategic Whale Trades Signal Potential Upsurge for Dogwifhat Coin</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/z/zIGNe8je.png" alt="BINANCE:WIFUSDT Chart" width="1692" height="836">
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 dogwifhat Price Analysis| Tradingview
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The Dogwifhat coin has been trading sideways for nearly two months, resonating with the two converging trendlines of the triangle pattern. The two trendlines act as dynamic resistance and support is gradually narrowing the space in the triangle to lead to a decisive breakout.
Today, the <a href="https://coingape.com/markets/dogwifhat-price-analysis-3-breakout-as-whale-fuels-bullish/" rel="noopener noreferrer nofollow">WIF price</a> is 1.9%, projecting another reversal from the triangle resistance. This reversal hints the sideways action may continue for a week or two.
The on-chain data tracker Lookonchain recently highlighted that a whale spent 17,966 SOL, equivalent to $2.98 million, to acquire 953,177 WIF at a price of $3.13. This substantial purchase caused the price of WIF to surge by approximately 7%.
Previously, this same whale demonstrated strategic trading moves, having spent 1 million USDC to purchase 355,417 WIF at $2.81 on May 21. The whale subsequently sold this position at $3.07 on May 22, netting 1.09 million USDC and realizing a profit of $90,000.
<blockquote class="twitter-tweet">
 A whale spent 17,966 <a rel="noopener noreferrer nofollow" href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a>($2.98M) to buy 953,177 <a rel="noopener noreferrer nofollow" href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WIF</a> at $3.13 in the past 5 hours, causing the price of <a rel="noopener noreferrer nofollow" href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WIF</a> to increase by ~7%.
 This whale previously spent 1M <a rel="noopener noreferrer nofollow" href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> to buy 355,417 <a rel="noopener noreferrer nofollow" href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WIF</a> at $2.81 on May 21 and then sold it at $3.07 for 1.09M <a rel="noopener noreferrer nofollow" href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> on May 22, making $90K.… <a rel="noopener noreferrer nofollow" href="https://t.co/4xnoKerJ0X">pic.twitter.com/4xnoKerJ0X</a>
 — Lookonchain (@lookonchain) <a rel="noopener noreferrer nofollow" href="https://twitter.com/lookonchain/status/1794581934657695758?ref_src=twsrc%5Etfw">May 26, 2024</a>
</blockquote>
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Lookonchain’s analysis highlights the whale’s precise and profitable trading strategies, providing valuable insights into the dynamics of large-scale cryptocurrency transactions and their immediate effects on the market.
With whale accumulation and broader market bullishness, the <a href="https://coingape.com/markets/dogwifhat-price-prediction-wif-flash-sales-signal-buying-opportunity/" rel="noopener noreferrer nofollow">Dogwifhat</a> coin is likely to break the overhead trendline. This breakout will release the bullish momentum and chase the potential target of $3.7, followed by $4.86.
<h2 id="b-technical-indicator-b">Technical Indicator</h2>
<ul>
 <li style="font-weight: 400;" aria-level="1">BB Indicator: The reduced range of the <a href="https://coingape.com/education/bollinger-band/" rel="noopener noreferrer nofollow">Bollinger Band</a> indicator reflects increasing volatility in the market and the need for a decisive breakout.</li>
 <li style="font-weight: 400;" aria-level="1">Relative Strength Index: The daily <a href="https://coingape.com/glossary/rsi-relative-strength-index/" rel="noopener noreferrer nofollow">RSI</a> slope wavering around 50% accentuates a neutral market sentiment.</li>
</ul>
The post <a href="https://coingape.com/markets/dogwifhat-price-analysis-wif-eyes-to-3-amid-whale-trades/" rel="noopener noreferrer nofollow">dogwifhat Price Analysis: WIF Eyes Breakout Rally to $3 Amid Major Whale Trades</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

dogwifhat Price Analysis: WIF Eyes Breakout Rally to $3 Amid Major Whale Trades

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