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factor
Published: September 25, 2024
- dogwifhat has actually experienced a continual upward momentum.
- WIF has actually risen by 29.74%in 7 days as trading volume increased by 116.2%in 24 hours.
dogwifhat [WIF]the 4th biggest memecoin by market cap, has actually experienced a strong upward momentum over the previous month. This uptrend has actually seen WIF make a considerable healing on its cost charts.
As of this writing, WIF was trading at $1.99. This marked a 29.74% boost over the previous week.
Especially, this duration has actually seen the memecoin record substantial rise in need particularly trading activities. WIF’s trading volume has actually risen by 116.2% to $727.7 million in 24 hours.
The rise in trading activity while cost charts have actually taped substantial gains recommends altering market belief.
Source: Market Prophit
Our analysis of Market prophit reveals WIF is taking pleasure in favorable market belief with a 1.4 Buzz rating and 0.1 crowd belief.
What WIF charts recommend
Undoubtedly, the dominating market belief sets dogwifhat for more gains on the rate charts.
Source: Tradingview
For beginners, dogwifhat’s Directional Movement Index (DMI) reveals a strong uptrend with the favorable index at 31.06 above the unfavorable index at 15.1.
This shows the upward momentum is more powerful than the down momentum, signifying a bullish pattern.
Source: Coinglass
In addition, WIF’s overall liquidation for brief positions has actually risen over the previous 3 days. The last 24 hours have actually seen $2.3 million in overall liquidation for brief positions.
This recommends that those wagering versus the marketplace are displaced of their positions while long position holders continue to hold their trade.
Source: Santiment
This phenomenon is additional revealed by a favorable financing rate aggregated by exchange. According to Santiment’s information, this has actually been favorable over the previous week recommending a greater need for long positions than brief ones.
Hence, indicating financiers want to pay a premium and hold their positions.
Source: Coinglass
Our analysis of Coinglass reveals bullish market belief continues to control the market as suggested by a favorable weighted financing rate. Much like we observed previously, favorable OI-weighted financing recommends numerous traders are taking long positions.
Check out dogwifhat’s [WIF] Rate Prediction 2024– 2025
The present market belief reveals greater favorability for the memecoin.
If the fundamental conditions are preserved, WIF will break out of the next considerable resistance level of $2.36. A breakout from this level will see dogwifhat struck a 2-month high around $2.9.