- Dogwifhat’s (WIF) daily trading volume crossed $1.5 billion in the latest rally.
- The number of WIF holders increased by 6.7% in the past 30 days.
The Dogwifhat bulls are on a relentless charge, propelling the meme coin’s price up by 12% for the second consecutive day. As of now, the WIF price has surged past the $4.0 mark, with market capitalization exceeding $4.0 billion and daily trading volumes spiking by 30%, totaling above $1.5 billion.
Dogwifhat (WIF) Leads Market Rally
Dogwifhat (WIF) has proven to be a standout in the current crypto market rally, boasting gains of 30% over the past week and an impressive 40% increase over the last month. On-chain indicators highlight the coin’s robust strength, suggesting that the bullish momentum is poised to continue in the near future.
Over the past 30 days, the number of WIF token holders has grown by 6.7%, reflecting increasing investor confidence amidst recent market volatility. The coin has seen more buyers than sellers, with a buyer/seller ratio of 1.15, and a positive net flow of $162 billion compared to $158.8 billion in selling volume, according to data from Dune Analytics.
Is New ATH for WIF Soon?
The recent surge in Dogwifhat’s price has propelled it above a significant symmetrical triangle, resulting in a 30% increase that has brought it close to the $4 mark, just 12% below its all-time high (ATH). Given the ongoing bullish trend, there is a strong possibility that the coin will test and potentially surpass its ATH in the near term.
While the Relative Strength Index (RSI) indicates a slight bearish divergence as it nears the upper threshold, suggesting a potential minor pullback, the overall sentiment remains bullish as long as the WIF price remains above $3.55. The current market dynamics favor crypto, with volumes continuing to influence bullish sentiment.
Investor Interest and Long Positions
The recent surge in open interest in WIF signals a growing interest from investors looking to build long positions. This, combined with the strong bullish momentum, reinforces the likelihood of further price appreciation in the coming days.
Conclusion
With the Dogwifhat (WIF) price closing in on the $4 mark and daily trading volumes soaring to new highs, the bullish breakout seems imminent. Should the price confirm its breakout above $4, it could pave the way for a renewed push towards new highs above $5 by the end of the month. Investors are closely watching the market dynamics, anticipating further gains as the rally continues to gather momentum.
As the fourth-largest meme coin by market capitalization, Dogwifhat (WIF) has solidified its position in the crypto market, with its recent performance reflecting strong investor confidence and a resilient upward trajectory. For now, all eyes are on whether Dogwifhat (WIF) can sustain its current momentum and set a new ATH in the days to come.
