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Dogwifhat (WIF) Shines With 15% Rally In The Past Week — Is $2.8 The Next Stop?
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Dogwifhat (WIF) Shines With 15% Rally In The Past Week — Is $2.8 The Next Stop?

Opeyemi Sule
Opeyemi Sule
6 months ago
2 mins read
Dogwifhat

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The emergence of Donald Trump as the president-elect of the United States has been one of the biggest catalysts the crypto market has seen this year. The meme coin market has largely benefited from the recent bullish sentiment in the crypto industry, with the price of Dogwifhat (WIF) also running rapidly to the upside.

Although this spurt of bullish momentum has drawn the attention of traders and other market participants, several investors are still treading with caution while anticipating a brief pullback. However, a prominent crypto analyst believes it is time to buy and has come forward with an audacious projection for the price of Dogwifhat.

Solana-based Meme Coin Dogwifhat To Rally 20% — Here’s How

In a November 9 post on the X platform, crypto pundit Ali Martinez shared an exciting analysis of the WIF price, explaining that the meme coin might not be done just yet. Based on recent price action, the Dogwifhat token appears to be in line for a sustained upward price run.

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The rationale behind this projection is the formation of a bull flag pattern on the 4-hour chart. A bull flag pattern is a chart formation used in technical analysis and is characterized by a period of steep upward price movement (the flagpole) and a short period of consolidation or slight downward trend (the flag).

The bull flag typically acts as a strong continuation pattern for an upward price trend. However, it is important to look out for a price breakout to the upside of the flag in order to confirm the trend continuation prognosis.

Dogwifhat
A 4-hour chart showing WIF price break out of the “flag” | Source: Ali_charts/X

As shown in the chart above, the price of Dogwifhat appears to be breaking out of the flag, suggesting the potential persistence of the upward trend. Should this breach be successful, it is worth noting that the breakout usually replicates the length of the initial flagpole.

Using this first flagpole as a template, Martinez placed the price target for the Solana-based meme coin at $2.84, which represents a 20% increase from the current price point. 

WIF Price At A Glance

As of this writing, the price of Dogwifhat stands at around $2.40, reflecting a 5.9% increase in the past 24 hours. This single-day action has further improved the meme coin’s performance on the weekly timeframe, bringing it up to 14.6% in the past seven days.

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6 months ago
Dogwifhat
The price of WIF hovers around the $2.5 level on the daily timeframe | Source: WIFUSDT chart on TradingView
Featured image created by Dall-E, chart from TradingView
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Opeyemi Sule
Opeyemi Sule

Opeyemi Sule

Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies.

Read more

Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part - in fact, far from it.

Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger.

When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix.

Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.
Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that.

Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings.

Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better.

Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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