Wif surges by 9.23% over the past 7 days. Dogwighat enjoys positive market sentiment as trading volume soars by 23.65%
Dogwifhat defies the recent market downturn to experience sustained gains over the past 7 days. On weekly charts, WIF has surged by 9.23%, the fourth largest memecoin by market cap has defied markets to experience sustained gains. While the rest of the market was bleeding, WIF was holding well, thus building optimism.
In fact, as of this writing, dogwifhat was trading at $1.53. This marked a 9.23% increase over the past week.However, under this shift in market sentiment, WIF has shown rising demand and buying activity through increased trading. Over the last 24 hours, WIF’s trading volume has surged by 23.65% to $221 million.According to AMBCrypto’s analysis, dogwifhat was enjoying positive market sentiment.
This was supported by Market Prophit data that suggest high favorability towards the memecoin. According to market prophit, crowd sentiment was 0.15, Buzz score was 0.8447, and crowd Z-score sentiment was 1.52.Firstly, SMA at $1.51 was below the current price, suggesting the recent price action is stronger than the historical average. When SMA is set like this, it shows the meme-coin is in an uptrend phase.Additionaly, Dogwifhat’s funding rate aggregated by exchange was positive.
Such a scenario happens as demand for long positions exceeds that for shorts, indicating that investors expect the price to rise.Finally, the demand for WIF long positions was further supported by a positive OI-weighted funding rate. This shows that there’s a higher demand for long positions which reflects the overall bullish market sentiment.
Therefore, if the prevailing market conditions hold, WIF is well positioned for further gains. Thus, a breakout from the descending trendline will strengthen the meme-coin to hit the $2.0 resistance level that has shown to be stubborn.Gladys is a passionate crypto-enthusiast and price analyst. With 3 years of experience in the blockchain space, she's well aware of the prevailing market trends.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Memecoin mania returns: Can WIF extend the 65% recovery?WIF has shown remarkable recovery, rallying over 60% during the recent market rebound. Will a new meme frenzy push it higher?
Read more »
dogwifhat soars 18.7% in 24 hours: Is WIF leading the memecoin recovery?Wif is soaring with 18.7% surge on daily charts. Dogwifhat leads memecoin recovery with increase in trading volume and M.C.
Read more »
dogwifhat: Is now the time to buy? WIF whales drop major hintsThe largest WIF holder recently used 1 million USDC to purchase 643,832 WIF at $1.55, after purchasing 800,556 WIF early this week.
Read more »
Solana’s minor surge may be linked to POPCAT memecoinSolana surged by 2% in the last 24 hours, a jump that coincided with the listing of POPCAT on Binance and KuCoin.
Read more »
Dogwifhat over Dogecoin? 30% gain makes WIF top memecoin of the weekDogwifhat (WIF) notches significant gains, marking a 30% weekly surge as its largest holder's strategic accumulations pay off.
Read more »
DOGS memecoin plummets by 23.77% after Binance listing: What’s next?DOGS memecoin plummets by 23.77% after Binance's listing. Increased market uncertainty has resulted to $6.92 million total liquidation
Read more »