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Shiba Inu killer The price of Dujuifat (WIF) has risen significantly Since mid-September. It is worth noting that the meme currency rose by about 32% in the past seven days, which allowed it to outperform many cryptocurrencies and meme currencies. It is worth noting that this rise has prompted many bullish expectations for the cryptocurrency.
Duguevat’s return to the spotlight
Dogwifat’s rise to prominence began in early 2024, with the meme community embracing her as the “Shiba Inu Killer.” Dogwifhat, which started the year at around $0.15, was thrust into the spotlight in March and April as part of the craze surrounding Solana-based meme coins in the first half of 2024. This sent the meme coin soaring more than 3,100% to peak at $4.84. . Although the price of the meme coin has corrected since then, it is still there Popular among meme coin investors It is supported by a strong online community.
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Dogwifhat posted impressive gains in the month of September and is currently up 9.5% in the past 24 hours. Popular cryptocurrency analyst Rekt Capital points out that Dogwifhat’s recent breakout of its multi-month downtrend is just the beginning. According to him, this move is one of the first signs of a broader altcoin rally, which he predicted in a previous analysis. Moreover, the analyst noted that WIF is on the cusp of starting a new uptrend for the macro.
The only other time $WIF It broke out of its downtrend and flipped on the 4H 200 back in February.
And then the price $WIF Gained 1600% over 48 days.
Looks like we’re about to find out if history repeats itself. pic.twitter.com/MhvWjHA9SS
— Website (@0xyusu) September 26, 2024
Adding to the positive sentiment, another cryptocurrency expert, Gumshoe, said, Highlight the key Development in WIF market activity. According to him, $35 million worth of Dogwifhat coin has been transferred from cryptocurrency exchange Binance to self-custodial wallets in the past seven days. These withdrawal conversions indicate increasing investor confidence in holding the WIF fund over the long term.
According to a WIFUSDT chart posted on social media platform The last time this technical move occurred was in February, and it resulted in an amazing 1600% gain over 48 days. Sito predicted that if history repeats itself, Dujoyvat could once again see a huge price surge, potentially reaching $25 in the coming weeks.
The only other time $WIF It broke out of its downtrend and flipped on the 4H 200 back in February.
And then the price $WIF Gained 1600% over 48 days.
Looks like we’re about to find out if history repeats itself. pic.twitter.com/MhvWjHA9SS
— Website (@0xyusu) September 26, 2024
What’s next for Dogwift?
At the time of writing, Dogwifat (WIF) is trading at $2.4. Replicating the 1,600% jump may be more difficult this time. Given current price levels, it would take a much larger influx of capital to achieve such a significant increase in value than it did earlier this year.
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However, this does not negate the fact that the memecoin is on the cusp of continued upward momentum. The first step is a breakout above the July order block around $2.665. A successful break above this would pave the way for additional price gains up to the all-time high of $4.84.
Featured image created with Dall.E, chart from Tradingview.com