Dogwifhat (WIF) Set to Explode, Experts Eyes in $5

Dogwifhat (WIF), the favored Solana-based meme coin seems set to blow up as its worth motion positive factors important consideration from crypto giants. On December 7, 2024, the general cryptocurrency market is exhibiting bullish momentum, with Bitcoin (BTC) and different main altcoins like XRP, BNB, and DOGE experiencing spectacular upside actions.

Dogwifhat (WIF) Technical Evaluation and Upcoming Bull Run

With bullish market sentiment, WIF has damaged out from a chronic consolidation zone shaped on the golden Fibonacci stage. In line with knowledgeable technical evaluation, this breakout has shifted the general market sentiment for the meme coin.

Based mostly on the latest worth motion, there’s a robust risk that WIF may initially soar by 20% to achieve the latest excessive of $4.80, which presently acts as a assist stage. Moreover, there’s a risk of WIF reaching $5 within the coming days.

On the optimistic aspect, regardless of the spectacular worth rally, WIF’s Relative Energy Index (RSI) presently stands at 65, which is beneath the overbought stage of 70. This knowledge means that the meme coin has sufficient room to proceed its upside momentum within the coming days.

WIF’s Rising Open Curiosity 

Nevertheless, this breakout and bullishness within the WIF each day chart have proven robust curiosity from merchants. Based mostly on the info, WIF’s open curiosity has soared by 16% up to now 24 hours and 4.20% up to now 4 hours.

This rising open curiosity (OI) suggests robust dealer curiosity and confidence within the meme coin, hinting at potential shopping for alternatives and additional indicators of upside momentum.

Present Value Momentum 

At press time, WIF is buying and selling close to $3.90 and has registered a worth acquire of over 13.5% up to now 24 hours. Throughout the identical interval, its buying and selling quantity dropped by 15%, indicating diminished participation from merchants and traders in comparison with earlier days.