Dogwifhat price rallied for three consecutive days, reaching its highest level in five months, as the cryptocurrency surge accelerated. WIF token soared to a high of $3.21, up by 187% from its lowest level since August 5 as analysts predict more gains ahead.
Crypto Analyst Sees Dogwifhat Price Hitting $100
Crypto analysts are increasingly bullish on the WIF price as the crypto price rally gains steam, with Bitcoin sitting above $82,000.
In an X post, Bitforce, a crypto analyst, predicted that the Dogwifhat price would jump to $100 after going nowhere for eight months. Such a move would imply a 3,233% increase from the current level.
Such big moves are possible in the cryptocurrency industry, especially when a bull run is underway. For example, X Empire price jumped by over 3,300% between October 24 and November 10. Similarly, RabBitcoin and Peanut the Squirrel (PNUT) surged by over 250% on Monday.
Meanwhile, Dylan, another popular analyst with over 400k followers, said that the Dogwifhat price would jump to $4 by December. He pointed to an inverse head and shoulders and the harmonic XABCD chart patterns.
Dogwifhat’s price action is being influenced by the ongoing crypto bull run and inflows into Solana meme coins. Bonk price has jumped by 43% in the last seven days, while Popcat, Cat in a dogs world, and GOAT have jumped by 30%, 31%, and 71%, respectively. Altogether, data by CoinGecko shows that the total market cap of all Solana meme coins has jumped to $15.7 billion.
WIF Price Analysis As It Flips Key Resistance
The Dogwifhat coin price bottomed at $1.056 in August as most coins retreated. It has now rebounded and moved above the important psychological level of $3.
WIF has also flipped the crucial resistance level at $2.97, its highest swing on October 14, and the 50% Fibonacci Retracement level. By flipping that resistance, Dogwifhat invalidated the double-top pattern, whose neckline was at $1.88.
Dogwifhat surged to the Ultimate Resistance level of the Murrey Math Lines tool. Therefore, the path of the least resistance is upwards, with the next logical target being at $4.08, the highest level in May this year. That target is about 35% above the current level and is also at the 78.2% retracement. For the Dogwifhat token to soar to $100, it will need to first flip the all-time high of $4.86.
The bullish view will become invalid if the WIF price drops below $1.88, the neckline of the double-top pattern and the ascending trendline that connects the lower highs since August 5.
Frequently Asked Questions (FAQs)
One analyst believes that the WIF price will jump to $100. While this is possible, a 3,300% increase from the current level will likely take time.
The coin is rising as investors react to the ongoing crypto bull run after Bitcoin rose to $82,000 for the first time on record.
The other popular alternatives to WIF are Solana meme coins like Bonk, Cat in a dogs World, and GOAT.
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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