Dogwiffhat (WFF) is set to explode, experts’ eyes at $5
Dogwiffhat (WFF), the popular Solana-based meme coin, looks set to explode as its price action is getting a lot of attention from crypto giants. On December 7, 2024, the entire cryptocurrency market is showing high momentum, with Bitcoin (BTC) and other major altcoins such as XRP, BNB, and DOGE experiencing dramatic upward movements.
Dogwifhat (WIF) technical analysis and upcoming bull run
With high market sentiment, WIF broke out of the extended consolidation zone established by the golden Fibonacci level. According to expert technical analysis, this crash has changed the overall market sentiment for Mem coin.
Based on the recent price action, there is a strong possibility that WIF could initially rise by 20% to reach the recent high of $4.80, which currently acts as a support level. Additionally, there is a chance that WIF will reach $5 in the coming days.
On the positive side, despite the impressive price rally, the YFF Relative Strength Index (RSI) currently stands at 65, below the overbought level of 70. Days.
Demand for YFF is increasing.
However, this breakout and breakdown on the WIF daily chart has shown strong interest from traders. According to the data, WIF open demand increased by 16% in the last 24 hours and by 4.20% in the last four hours.
This rising Open Interest (OI) indicates strong trader interest and confidence in MemCoin, indicating potential buying opportunities and further bullish signals.
Current price momentum
At press time, WIF is trading near $3.90 and has gained over 13.5% in the last 24 hours. At the same time, the trading volume decreased by 15 percent, which shows that the participation of traders and investors has decreased compared to the previous days.
