Dogwifhat-WIF

Dogwifhat (WIF) Bulls Are Back: Whale Buy Sparks 20% Surge, Faces Resistance at $1.37

Dogwifhat (WIF), a leading meme coin on the Solana (SOL) blockchain, has turned bullish after a bearish start to the month. The cryptocurrency saw an impressive 20% surge in just four hours, pushing its price to $1.34 before stabilizing at $1.32. As per CoinMarketCap, WIF has gained 14.70% in the past 24 hours, reflecting renewed investor confidence.

Whale Activity Fuels WIF’s Rally

One of the major catalysts behind WIF’s price pump was a significant purchase by a whale wallet named “Ansem.” According to blockchain analytics platform Lookonchain, the investor spent 1.2 million USDC to acquire 915,828 WIF tokens. This marked Ansem’s first crypto purchase in three months, further fueling bullish sentiment. Notably, the wallet also holds $7.6 million in USDC, $3.5 million in PUMPKIN, and $207K in GoFundMeme.

Community Excitement Over Vegas Sphere Promotion

Adding to the momentum, the Dogwifhat project recently announced a marketing campaign featuring WIF on the Vegas Sphere, one of the most visually stunning venues for digital advertising. This announcement has been met with enthusiasm from the community, further reinforcing bullish sentiment.

WIF Price Analysis: Key Levels to Watch

A look at the 4-hour TradingView chart reveals that WIF printed three consecutive bullish candles, with the second candle delivering a massive 20% gain, reaching a high of $1.37—now acting as a key resistance level. The meme coin attempted another breakout but failed to sustain above $1.37, indicating strong selling pressure at that zone.

dogwifhat (WIF) price analysis
Source: TradingView

The Bollinger Bands show WIF trading at the upper band, highlighting overbought conditions. If the token manages to break past $1.37, the next major resistance level is $1.44. A confirmed breakout above this could propel WIF towards $1.80 in the near term.

On the flip side, the On-Balance Volume (OBV) indicator signals increasing buying pressure, suggesting continued accumulation. Additionally, WIF has held firm above the crucial $1 psychological support level, which remains key for sustaining bullish momentum.

Crypto analyst Bluntz Capital believes that WIF’s recent dip to $0.90 marked the bottom for the token. He sees “signs of life” for the meme coin and anticipates further price appreciation. However, the Relative Strength Index (RSI) on the daily chart remains at 39.99, indicating that bears still have some control. WIF’s ability to push past resistance levels will be crucial in determining its next move.

Also Read: Dogwifhat (WIF) Eyes 40% Surge Amid Bullish Divergence and Strong Market Sentiment

With whale activity, strong community backing, and strategic promotions, Dogwifhat (WIF) could be poised for further gains. Investors will be watching closely to see if the meme coin can sustain its bullish momentum in the coming days.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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