CandleFocus Dogwifhat (WIF) Set For Rally? Whales Amass $33.35M, What’s Next?
2024-09-11
Author: Content Editor
The Solana memecoin Dogwifhat (WIF) has gained attention as two whale addresses have accumulated a total of 20.58 million WIF tokens, valued at $33.35 million, in the past two weeks. This has raised hopes of a price recovery and positive market sentiment. Despite the volatile market, experts believe there will be a positive movement in Q4, supported by whale activity and the possibility of the Federal Reserve easing. Technical indicators suggest upward movement for WIF, with the potential for a price breakout and a continuation of the bullish trend. However, if the price fails to sustain above the $1.55 support level, further declines could occur. Currently, WIF is bearish with prices dropping to $1.55. Traders in the derivatives market have become less aggressive, leading to a decline in trading volume and open interest. Nevertheless, some traders remain optimistic about a possible rebound if buying interest returns and volume increases.
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