dogwifhat

Resistance

Reversal

Spot

dogwifhat Price: On Tuesday, the cryptocurrency market showcased ease from prevailing selling pressure as <a href="https://coingape.com/could-bitcoin-hit-50k-soon-after-recent-price-dip/">Bitcoin</a> shows sustainability above $60000. The renewed demand pressure has sparked a relief rally in altcoin especially in the <a href="https://coingape.com/meme-coin/">Meme coin</a> sectors. Dogwifhat (WIF), the Solana-based memecoin records a 24% in the last 24 hours, projecting a higher potential for recovery. But will it sustain? 
Also Read: <a href="https://coingape.com/sponsored/expert-analysts-predict-further-drop-in-crypto-market-bitcoin-cash-bnb-kaspa-and-rollblock-price-analysis/">Expert Analysts Predict Further Drop in Crypto Market: Bitcoin Cash, BNB, Kaspa and Rollblock Price Analysis</a> 
<h2 id="b-dogwifhat-price-eyes-key-resistance-levels-in-recovery-effort-b">dogwifhat Price Eyes Key Resistance Levels in Recovery Effort</h2> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/g/glz7DPyQ.png" alt="BINANCE:WIFUSDT Chart " width="1341" height="842">
 <figcaption class="wp-caption-text">
 dogwifhat Price| Tradingview
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</figure> 
The <a href="https://coingape.com/markets/dogwifhat-price-forecast-is-it-time-to-buy-the-dip/">Dogwifhat</a> (WIF) has been under a correction trend for the last three months after its price topped $4.86. The bearish turnaround has tumbled the asset to a low of $1.47 projecting a loss of nearly 70%. 
However, the broader market correction witnessed a cool-off on Tuesday, pushing the WIF price immediately to $1.9, while its market cap recovered to $1.9. The meme cryptocurrencies often show dynamic moves in a sudden change market due to their volatile nature. As per the data from coinmarketcap, the Top memecoin contributes to a market cap of $46.9 Billion, registering an 8.5% intraday gain. 
According to on-chain data tracker Lookonchain, a savvy investor recently acquired an additional 938,434 WIF, valued at $1.6 million, earlier today. 
<blockquote class="twitter-tweet"> 
 An early buyer of <a rel="nofollow" href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WIF</a> bought 938,434 <a rel="nofollow" href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WIF</a>($1.6M) again 4 hours ago. 
 This guy bought 3.58M <a rel="nofollow" href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WIF</a>($6.6M currently) on Dec 9 and Dec 13, 2023, at a cost of only $21K. 
 He currently holds 3.97M <a rel="nofollow" href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WIF</a>($7.3M).<a rel="nofollow" href="https://t.co/XNnO3JaFdb">https://t.co/XNnO3JaFdb</a> <a rel="nofollow" href="https://t.co/hPaOSusAr0">pic.twitter.com/hPaOSusAr0</a> 
 — Lookonchain (@lookonchain) <a rel="nofollow" href="https://twitter.com/lookonchain/status/1805420708920803793?ref_src=twsrc%5Etfw">June 25, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
The investor’s historical activity in <a href="https://coingape.com/wif-price-rallies-21-on-massive-buying-by-dogwifhat-whales-whats-next/">WIF</a> demonstrates a keen understanding of market dynamics. On December 9 and December 13, 2023, this individual purchased a substantial 3.58 million WIF, which has a current market value of $6.6 million.&nbsp; 
<blockquote>
 As of now, the investor’s total holdings amount to 3.97 million WIF, equating to approximately $7.3 million.
</blockquote> 
Also Read: <a href="https://coingape.com/sponsored/spot-bitcoin-etfs-vs-spot-ethereum-etfs-which-is-the-better-buy/">Spot Bitcoin ETFs Vs. Spot Ethereum ETFs: Which Is The Better Buy?</a> 
An oversold asset witnessing whale accumulation is poised for a quick rebound but it’s not guaranteed to be sustained. The coin holders must watch for overhead resistances of $1.95 and $2.26 as they could revive. 
With the near-term trend bearish, the development of a fresh higher low or reversal pattern is needed to confirm sustainable recovery. 
The coming days to week could be sideways for the Dogwifhat, as the price needs to stabilize above $1.5 psychological support. 
<h2 id="b-technical-indicator-b">Technical Indicator</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">EMAs: A bearish crossover between the 20-50-100-day <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">Exponential Moving Average</a> indicates aggressive selling pressure and the path to least resistance downward.</li> 
 <li style="font-weight: 400;" aria-level="1">Relative Strength Index: The daily RSI slope reverted from the oversold region to 37% indicating increased buying pressure from investors hunting for discount value.</li> 
</ul> 
The post <a href="https://coingape.com/markets/dogwifhat-price-bottomed-whale-activity-1-5-reversal/">dogwifhat Price Bottomed? Whale Activity at $1.5 Signals Potential Reversal</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

dogwifhat Price Bottomed? Whale Activity at $1.5 Signals Potential Reversal

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