Analysis

Dogwifhat (WIF) Whale $2 million Bets, Eyes on $2.85 Level

Published

1 year ago

September 26, 2024

The favored Solana-based meme coin, Dogwifhat (WIF), is poised for large upside momentum as investor and whale curiosity skyrockets. Over the previous seven days, WIF has made waves within the crypto trade, with a major worth enhance of over 43%, from $1.62 to $2.27.

WIF Whale about procuring frenzy

After this spectacular worth enhance, on September 26, 2024, the largest holder of WIF made an enormous gamble by buying 894,854 WIF tokens for $2 million at a median worth of $2.24, as reported by Lookonchain. This main acquisition means that regardless of the large worth enhance, the meme coin nonetheless has potential, which might clarify why whales are on a shopping for spree.

Along with the current buy, this WIF holder additionally made a major buy of over $4.2 million value of WIF on September 20, 2024 at a median worth of $1.76. After these purchases, this WIF whale now owns a major 32.1 million WIF tokens. value $71 million, with an unrealized revenue of greater than $86 million.

Dogwifhat (WIF) Technical Evaluation and Upcoming Ranges

Based on CoinPedia’s technical evaluation, WIF is at present dealing with robust resistance close to the $2.3 stage. Based mostly on the meme coin’s current efficiency, it seems that the token will expertise a slight worth correction earlier than rising additional.

Based mostly on the historic worth momentum, if WIF closes its every day candle above the $2.4 stage, there’s a robust risk that the token might rise one other 20% to succeed in the $2.85 stage within the coming days. Presently, market sentiment is bullish and whales are in full shopping for mode, indicating that WIF might simply break by this hurdle.

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WIF Present Value Momentum

On the time of writing, WIF is buying and selling across the $2.20 stage and has skilled a worth enhance of over 9% within the final 24 hours. Throughout the identical interval, buying and selling quantity elevated by 18%, indicating larger dealer participation because the resistance stage approaches.