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Dogwifhat (WIF) Price Set To Skyrocket 2,500%: Economist
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Dogwifhat (WIF) Price Set To Skyrocket 2,500%, Predicts Renowned Economist

Jake Simmons
Jake Simmons
6 months ago
2 mins read
Dogwifhat WIF price news

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Renowned economist Henrik Zeberg has released a technical analysis of Dogwifhat (WIF) on X, forecasting a massive 2,500% price surge for the memecoin. According to Zeberg’s analysis, WIF is poised for a significant rally, potentially reaching $78, driven by a larger ABC pattern and a series of smaller subwaves.

How Dogwifhat (WIF) Price Could Hit $78

Zeberg’s weekly WIF/USDT chart illustrates a large ABC corrective pattern, a fundamental structure in technical analysis that indicates a retracement phase within a broader bullish trend. This ABC pattern, according to Zeberg’s analysis, could eventually culminate at point C around $78. This target is based on the completion of the larger ABC structure, with the price reaching new highs once the correction phase concludes which he describes with the words “economy catches up with bull market.”

Dogwifhat WIF price prediction
Dogwifhat WIF price prediction | Source: X @HenrikZeberg

Within this larger ABC structure, Zeberg also maps out a series of five smaller waves, which are part of the overall upward momentum in the market. These five waves align with the principles of Elliott Wave theory, a method used to predict price movements based on market psychology. In Zeberg’s chart, the five waves (labeled 1 through 5) represent the early stages of the price rally, with the first wave being the initial breakout, and the subsequent waves following through with increasingly higher price points.

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

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The first wave drove the WIF price to a high of $3.04, followed by a correction in the second wave that brought it down to $2.00. With the correction now complete, Zeberg predicts that WIF could catapult to $6.59. For wave 4, Zeberg anticipates a dip to $4.59 before the memecoin takes off towards $15.24.

The chart also highlights important Fibonacci retracement and extension levels, which Zeberg uses to project potential support and resistance zones as WIF progresses. The 2.618 Fibonacci extension level, positioned around $6.59, aligns with Zeberg’s immediate short-term target. Following this, higher extension levels at 3.618 and 4.618 ($11.96 and $21.69, respectively) suggest further upward momentum, which could take the price to the anticipated $78 target if the market continues to follow this trajectory.

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Dogwifhat (WIF) Prepares For A Bullish Breakout – Analyst Sets $3 Target

Dogwifhat (WIF) Prepares For A Bullish Breakout – Analyst Sets $3 Target

7 months ago

Zeberg’s prediction for the near term includes a price movement towards $6.3 by the end of this week, followed by a brief pullback. From there, he expects WIF to climb towards $13-$15 by late November or early December. These intermediate price targets are key milestones in the larger cycle that will eventually lead to the projected price of $78, marked by the completion of the ABC pattern.

Zeberg writes via X: “Could we see ~6.3 USD by end of week. Then pullback before move to ~13-15 USD by end of November – early December? If WIF manages these steps – well then ~78 USD is a probable target. I’m extremely BULLISH!!!!”

At press time, dogwifhat traded at $3.079.

Dogwifhat WIF price
Dogwifhat price, 1-day chart | Source: WIFUSDT on TradingView.com
Featured image from Shutterstock, chart from TradingView.com
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Jake Simmons
Jake Simmons

Jake Simmons

Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field.

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His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake’s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage.

Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control.

For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.

As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.

In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.

You can engage with his latest takes on Twitter: @realJakeSimmons.

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