Dogwifhat (WIF) Price Still Rising, But Can It Surpass $3.55?

Bittime - The crypto asset market is making a comeback, with Bitcoin leading the rise and stabilizing around $70,000.

This positive trend lifted many meme coins, including Dogwifhat (WIF), which has seen significant price increases.

WIF Surges on Recovery Wave

Dogwifhat, a meme coin built on the Solana blockchain , is capitalizing on the market rise. The price rose sharply after previously touching the 100-day exponential moving average (EMA) and surging 55% , reaching $3.34. 

The question: can WIF maintain its momentum if Bitcoin hits a new all-time high in the coming month?

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Technical Analysis: Signs of Rising Prices

According to Coinpedia analysis, looking at the Dogwifhat chart over a 4-hour period, you can see an upward trend line, which indicates a potential price increase.

The coin has repeatedly risen from this support line, showing buying interest when the market is down.

Source: Coinpedia.com

The latest increase on March 23 triggered a 55% price increase in five days. Dogwifhat is currently trading at $3.32 with a daily gain of 2.23%. 

Its market capitalization of $3.32 billion (equivalent to IDR 46 trillion, exchange rate 27 March 2024) places it among the top 50 crypto assets.

Also Read How to Buy Crypto:

Highs at $3.55, Will it Rise or Consolidate?

However, WIF price encountered strong selling pressure at the $3.55 resistance level , as evidenced by the rejection candle with a long wick on the 4-hour chart.

This pressure may cause temporary sideways movement before a sustainable breakout occurs.

Also Read: Will Bitcoin Go All Time High Again?

Technical Indicators: Bullish Signals

• MACD: The upward crossover between the MACD line and the signal line indicates a strong recovery trend.
• RSI: The Relative Strength Index (RSI) on the 4-hour chart is above 70%, indicating that market sentiment supports Dogwifhat price increases.

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Could WIF Spark the Next Bull Run?

If broader market sentiment remains positive, Dogwifhat is likely to stay above $3 . 

This previous resistance level is now support, and could provide a platform for buyers to push the price beyond the all-time high of $3.55 . Based on the Fibonacci extension tool, the price increase after the breakout has the potential to reach the target of $5.2.

How to Buy Dogwifhat (WIF) on Bittime

You can buy and sell Dogwifhat (WIF) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Dogwifhat (WIF) is available on Bittime with the market pair WIF/IDR . To be able to buy WIF IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn the complete guide on how to buy Dogwifhat (WIF) on Bittime . 

Monitor price chart movements of Dogwifhat (WIF) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.