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Cryptocurrency News Articles
Dogwifhat (WIF) Price Prediction as Sentiment in the Crypto and Stock Market Improves
Oct 12, 2024 at 12:02 am
Dogwifhat, the popular Solana meme coin, bounced back on Friday as sentiment in the crypto and stock market improved.
The price of Dogwifhat (WIF), a popular Solana meme coin, soared on Friday as the sentiment in the crypto and stock markets improved.
The WIF token surged to a high of $2.67, its highest level since October 7. At its peak, the token was trading at a price that was more than 145% higher than its lowest point in August. It was also approaching its highest point in over three months.
The fourth-biggest meme coin in the crypto industry bounced back as most cryptocurrencies rallied on Friday. Bitcoin climbed above the $62,000 level, while Ethereum, Solana, Shiba Inu, and Chainlink jumped by over 5%.
The rebound was also seen in the stock markets, where top indices like the Dow Jones, Nasdaq 100, and S&P 500 hovered at their all-time highs as the earnings season continued.
According to data, the surge in WIF coincided with a sharp increase in futures open interest. The open interest rose to $453 million, its highest level since October 1, as reported by CoinGlass.
Futures open interest is a key metric that looks at the volume of unfilled orders in the futures market. These orders can either be puts or calls. A put order gives a trader a right but not the obligation to sell, while a call gives them a right but not an obligation to buy. Higher futures open interest is usually seen as a positive catalyst for an asset.
In the spot market, WIF also saw a surge in volume. According to CoinGecko, it had over $1.3 billion in volume, which is higher than the combined volume of Dogecoin and Shiba Inu, indicating strong demand for the token.
The rebound in WIF also triggered a wave of shorts liquidations, with shorts worth over $2 million being liquidated on Friday compared to bulls worth $515k. A liquidation occurs when brokers close loss-making leveraged trades.
狗狗幣夫哈特 (WIF) 的价格,一种流行的 Solana 模因币,周五飙升,因为加密货币和股票市场的信心增强了。
WIF 代币猛涨至 2.67 美元的高位,这是自 10 月 7 日以来的最高水平。在高峰时段,该代币的价格较 8 月份的低点上涨了 145% 以上。它也接近于三个多月来的最高点。
随着大多数加密货币周五上涨,加密产业中第四大模因币也反弹了。比特币攀升至 62,000 美元上方,而以太坊、Solana、柴犬币和 Chainlink 则上涨了 5% 以上。
这种反弹也出现在股市,其中道琼斯指数、纳斯达克 100 指数和标准普尔 500 指数等主要指数在收益季继续进行时徘徊在其历史高位。
根据数据,WIF 的飙升与期货未平仓合约的急剧增加相吻合。据 CoinGlass 报道,未平仓合约上升至 4.53 亿美元,这是自 10 月 1 日以来的最高水平。
期货未平仓合约是一种关键指标,它考察了期货市场中未完成订单的数量。这些订单可以是看跌期权或看涨期权。看跌期权订单赋予交易者出售的权利,但没有义务,而看涨期权订单赋予交易者购买的权利,但没有义务。较高的期货未平仓合约通常被视为对资产有利。
在现货市场,WIF 的交易量也出现了激增。据 CoinGecko 称,其交易量超过了 13 亿美元,高于狗狗币和柴犬币的交易量之和,表明市场对该代币的需求强劲。
WIF 的反弹也引发了一波做空清算,周五做空清算额超过 200 万美元,而多头清算额为 51.5 万美元。当经纪人平仓亏损的杠杆交易时,就会发生清算。
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