Dogwifhat rises by 53% in 30 days:
Can WIF hit $3.5 soon?
Though the weekly charts show a decline, market indicators suggest that WIF might just be experiencing a temporary pullback.
Over the last 30 days, WIF has jumped by 53.72%. Market sentiment hints that dogwifhat could reach a five-month high of $3.5.
After its month-long surge, WIF faced a significant dip last week. As of now, WIF is trading at $2.4, marking a 8.53% drop on the weekly charts. Previously, the token had been on a consistent upward climb, gaining 53.72% in monthly charts.
Despite the recent dip, the last 24 hours have shown signs of recovery, especially in trading activity. WIFâs trading volume has shot up by 79.29% to $402.14 million, indicating potential momentum.
Given the current market situation, questions about the memecoin's future trajectory have emerged.
Market Sentiment
According to an analysis by AMBCrypto, dogwifhat is currently experiencing strong positive sentiment. Data from Market Prophit shows that WIF's crowd sentiment stands at 0.1263, with a Buzz Score of 1.098. Both the crowd Z score sentiment and market Prophit Z score sentiment remain optimistic.
Chart Analysis
The charts for WIF suggest that itâs positioned for potential gains. According to Binance perpetual futures data, the majority of investors are leaning towards long positions, with 86.35% of accounts holding long positions, while 13.65% are short.
These market conditions reflect a strong bias towards long positions, showcasing investor confidence in WIFâs future performance.
Moreover, a positive OI-Weighted Funding Rate over the last three weeks further supports this demand for long positions, implying that long traders are paying short traders to hold their positions, reinforcing bullish sentiment.
Hope my research will help you đ. DYOR before any trade . The information is not financial advice , it's just for education purpose so you could take help from it.
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