Dogwifhat (WIF) has witnessed an extraordinary surge in its market value, effortlessly breaching major resistance barriers. With the momentum building up, analysts are brimming with optimism, foreseeing a promising trajectory for WIF’s future price movements, with predictions pointing towards a substantial uptick in its valuation.
Over the past week alone, WIF has demonstrated an impressive surge, marking a staggering 28% increase, signaling further potential for price appreciation. Zooming out to assess its performance over a broader timeframe, WIF has been riding an upward trend, boasting a remarkable 40% surge over the past 30 days.
As of the time of reporting, the price of Dogwifhat stands firmly at $3.75. A robust 24-hour trading volume amounting to $2.34 billion contributes to a substantial market capitalization of $3.74 billion. Despite a slight dip of -0.91% in the past 24 hours, the overall sentiment remains bullish, indicating strong investor interest and confidence in WIF’s potential.
Analyst Eyes $6.7 Target For WIF
Renowned crypto analyst Alex Clay has recently expressed his bullish stance on the price trajectory of WIF. According to Clay, the $WIF token has successfully breached the Key Zone situated around $3.3 after a meticulous accumulation phase spanning 43 days.
This breakthrough marks a pivotal moment for WIF, signaling potential market dynamics and investor sentiment shift. With the Key Zone conquered Clay anticipates a notable uptick in bullish momentum, with eyes set on a retest of the $4.4 Major Supply Zone. Should WIF manage to break out beyond this critical resistance level, Clay envisions a further ascent in its valuation, setting a bold target of $6.7.
Echoing a similar sentiment, another prominent analyst known as Crypto Scient has also weighed in on WIF’s price trajectory. In alignment with Clay’s analysis, Crypto Scient emphasizes the importance of the $3.5 mark (red line) as a crucial level of support.
Should $3.5 transition into a support level, Crypto Scient foresees WIF’s price ascending towards $3.85 and $4.2 in the near term. However, failure to maintain support above the red line may lead to a period of consolidation or even a downward trend.
Such valuations from the two analysts describe that the bull is the dominating force in the WIF market, and these critical support and resistance levels will have market participants eagerly watch them for potential trade entries.
Related Reading | Chainlink’s Bullish Rebound Signals Potential Price Surge; Analyst Eyes 150-300% Gain