Recent tweets from prominent crypto voices highlight significant moves in Dogwifhat WIF/USD, driving both attention and market action toward this meme coin.
DonAlt, a prominent crypto trader, has been closely following the price movements of Dogwifhat (NYSE:WIF) since May 15. In his recent tweets, he highlighted some key levels to watch for those interested in trading the meme coin.
DonAlt noted that WIF has returned to the initial entry point of his previous trade. He observed that a range breakout would be bullish, while a close below the range high could present a similar trade opportunity to the one he took earlier. He also advised traders to trade the opportunities carefully.
Moreover, Bonk Guy commented on the short squeeze affecting WIF, expressing satisfaction with the current price action. "WIF shorts are getting squeezed hard right now, just the way it should be," he remarked, adding, "The hatted dog is headed to $10 and it’s never seeing $1 again. We are in a meme coin super cycle, whether or not you believe it."
DonAlt and Bonk Guy are among the several crypto personalities who have been discussing Dogwifhat's price movements recently.
As we reported earlier this week, DonAlt also pointed out four key factors that contribute to the success of meme coins, using Dogecoin, Dogwifhat, and Michi as examples. He highlighted relatable memes, community involvement, limited supply, and exchange listings as crucial elements.
Meanwhile, adding to the bullish sentiment around the meme coin, Lookonchain reported substantial whale activity in the past 24 hours. Two whales have made significant purchases: one wallet spent 1.31 million USDC to buy 453,877 WIF at $2.89 and has an unrealized profit of $161,000, while another whale spent 4,036 SOL (worth $730,000) to buy 247,791 WIF at $2.95 and currently holds 1.4M million WIF ($4.5 million).
Dogwifhat is up by 11% in the past 24 hours, cushioning its past week's drop. In comparison, the meme coin leaders Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) are down around 2% over the past 24 hours.
The upcoming Benzinga Future of Digital Assets event on Nov. 19 will delve into the impact of meme coins and Bitcoin (CRYPTO: BTC) as an institutional asset class.
