Dogwifhat (WIF) Outshines Top Meme Coins with Bullish Breakout
Release: 2024/08/10 04:54 Reading: 762
Dogwifhat (WIF) Outshines Top Meme Coins with Bullish Breakout
Original Source: Coinpedia Fintech News
Solana-based meme coin Dogwifhat (WIF) has made significant gains in the crypto market. Unlike top meme coins Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), which have experienced modest price increases, WIF has surged by over 8%.
Price Analysis:
At the time of writing, WIF trades near $1.81 and has reached $1.94 in the past 24 hours. However, trading volume has decreased by 20%.
Growing Open Interest:
Despite the decline in trading volume, WIF's open interest has increased by over 7%. This indicates increasing investor interest.
Price Prediction:
Technical analysts predict a bullish outlook for WIF based on a recent breakout of a bullish inverted head and shoulders pattern on a 4-hour time frame. If market sentiment remains unchanged, WIF could rise by 25% to reach $2.2. However, it may encounter resistance near $2 due to the 200 EMA.
Liquidation Levels:
WIF's major liquidation levels are $1.758 on the downside and $1.95 on the upside. If WIF reaches $1.95, nearly $12.62 million of short positions will be liquidated. Conversely, if it falls to $1.758, nearly $3.37 million of long positions will be liquidated.
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