- The dogwifhat crypto has witnessed an enormous surge in its market cap during the last 24 hours.
- The value of the WIF crypto has superior by 4900% from its all-time low in simply 5 months.
dogwifhat is a meme cryptocurrency on the Solana platform, impressed by the Dogwifhat meme.
Just like different dog-themed tokens like BONK, FLOKI, and BONE, WIF’s worth and recognition are pushed by group assist and social media fairly than conventional monetary metrics or utility.
Dogwifhat crypto has very excessive liquidity based mostly on its market cap, ensuing in a quantity/market cap ratio of 33.62%. Additionally, the traded worth of the crypto has superior by 130% in simply the final 24 hours.
Furthermore, the crypto’s circulating provide and most provide are the identical at 998.905M WIF. It has a totally diluted market cap of $3.642B.
WIF’s value can be extremely risky, and its concern and greed index is at 72, exhibiting greed amongst buyers.
dogwifhat Crypto Derivatives Evaluation
The Dogwifhat crypto has witnessed larger lengthy liquidations over the previous few days. It exhibits that the dogiwifhat crypto value has been dominated by the bulls over the previous few days.
The open curiosity in crypto has additionally superior by 16.7% in the final 24 hours in comparison with press time. It exhibits an increase in the quantity of open positions in the crypto.
The lengthy/brief ratio of the crypto is 0.9685, and the recorded lengthy liquidation for the crypto is $645.10K. Furthermore, the brief liquidation of the crypto is price $815.02K.
WIF Crypto Technical Evaluation
The value of the WIF cryptocurrency is presently buying and selling inside a robust consolidation vary, experiencing rejection from each the higher and decrease boundaries, and the worth has superior to the next degree.
Technical evaluation of WIF’s chart signifies a possible for a breakout on the upper aspect, supported by the historic pattern of the cryptocurrency. The latest candlesticks fashioned on the chart exhibit bullish traits, signaling a possible upward motion in the close to future.
Given these indicators, there’s an elevated probability that WIF’s value will resume its upward trajectory, breaking out of the consolidation vary and shifting in direction of larger ranges.
WIF/USD Chart by TradingView
On the daily chart of the WIF cryptocurrency, the 50-day Exponential Transferring Common is aligned with the general value motion, with the present value buying and selling above this EMA. This positioning means that the short-term pattern stays bullish.
Nonetheless, the MACD indicator displays the power of the crypto’s buying and selling value. The MACD and the sign line traded in a golden crossover, and the metrics traded in a bullish trajectory.
The RSI has damaged above the 50 degree and sustained above the 50 degree. It’s additional adopted by a break above the 14-day SMA.
Abstract
dogwifhat has surged by 4900% from its all-time low in 5 months, pushed by robust group assist.
The current liquidation of shorts and bullish technical indicators, together with a golden cross in MACD and an RSI above 50, counsel a possible breakout and continued upward trajectory for WIF.
The assist ranges for the Dogwifhat crypto are $1.10 and $1.970 adopted by the resistance ranges of $4.8 and $6.0.
Disclaimer
This text is for informational functions solely and doesn’t present any monetary, funding, or different recommendation. The writer or any individuals talked about in this text should not answerable for any monetary loss which will happen from investing in or buying and selling. Please do your analysis earlier than making any monetary selections.