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Cryptocurrency News Articles
Dogwifhat (WIF) Poised for Massive Upside Momentum as Investor and Whale Interest Skyrockets
Sep 27, 2024 at 07:23 am
WIF could soar another 20% to reach the $2.85 level if it closes a daily candle above the $2.4 level.
A popular Solana-based meme coin, Dogwifhat (WIF), is poised for massive upside momentum as investor and whale interest skyrocketed. Over the past seven days, WIF has made waves in the crypto industry, experiencing a significant price surge of over 43%, from $1.62 to $2.27.
This impressive price performance has attracted the attention of several large investors, with the biggest holder of WIF making a substantial purchase on Monday, September 26, 2024. According to data from Lookonchain, this investor purchased 894,854 WIF tokens for a total of $2 million at an average price of $2.24.
Following this purchase, the largest holder of WIF now holds a total of 32.1 million WIF tokens, which are currently valued at around $71 million. Notably, these tokens were acquired for an average price of $2.21, indicating an unrealized profit of over $86 million from this holding.
This isn't the first time a large purchase of WIF has been made by its biggest holder. On September 20, this investor acquired over $4.2 million WIF at an average price of $1.76.
Technical Analysis of WIF Price Movement
A technical analysis by CoinPedia suggests that WIF is encountering strong resistance at the $2.3 level. Given the meme coin’s recent price momentum, it appears that the token may experience a slight price correction before rallying further.
Based on the historical price momentum, if WIF closes its daily candle above the $2.4 level, there is a strong possibility that the token could soar another 20% to reach the $2.85 level in the coming days. Considering the market sentiment and the whales' buying spree, WIF could easily cross this hurdle.
At press time, WIF is trading at around $2.20, up over 9% in the past 24 hours. The meme coin has experienced a price surge of over 43% in the past seven days. In the past 24 hours, as WIF approaches a resistance level, its price has risen by over 9%, with a trading volume of over $2.5 billion.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
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