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WIF could soar by 20% to reach the $2.9 level if it closes a daily candle above the $2.37 level.
WIF’s Futures Open Interest skyrocketed by 14.5% and continued to rise, indicating a bullish market sentiment.
As a seasoned researcher with years of experience in the crypto market, I find myself constantly intrigued by the dynamics of meme coins like dogwifhat[WIF]. The recent surge of over 45% has certainly caught my attention and the whale’s $2 million investment only fuels my interest.
Recently, the meme token dogwhati[WIF], built on the Solana network, has been drawing a lot of interest due to its remarkable growth. It has experienced a significant surge, climbing more than 45% in value.
Now, it seems whales’ interest in the meme coin has skyrocketed.
WIF whale’s $2 million investment
On September 26th, the analytical firm Lookonchain shared on their platform (previously known as Twitter) that the owner of the largest Wallet Import Format (WIF) wallet had bought approximately 894,854 WIF tokens, equivalent to a value of around $2 million.
As a crypto investor, I’ve noticed that a significant player, often referred to as a ‘whale’, made another strategic move by purchasing more WIF tokens recently. Interestingly enough, this isn’t their first investment in WIF. On September 20th, they amassed over 2.55 million WIF tokens valued at approximately $4.5 million.
After completing numerous sizeable purchases of WIF, this entity is now in possession of approximately 32.1 million WIF tokens, valued at around $71 million. These holdings also represent an estimated unrealized gain exceeding $86 million.
Furthermore, the latest purchases made by the biggest shareholder of WIF approach a robust resistance point at around $2.35, suggesting that the meme coin could potentially surge in the near future due to this level.
WIF technical analysis and key levels
Based on AMBCrypto’s technical assessment, the WIF token shows signs of being optimistic and is having difficulty surpassing a significant resistance point at $2.35 right now.
As a researcher, I’ve been closely observing the current market trends, and with our latest acquisitions underway and an optimistic outlook from investors, it seems quite probable that WIF may surpass its current level.
If WIF surpasses the $2.37 mark in its daily close, it’s likely that WIF may experience an increase of approximately 20%, potentially reaching the $2.90 level.
presently, the meme cryptocurrency is selling higher than its 200-day Exponential Moving Average (EMA), suggesting a rising trend in its daily chart.
WIF’s bullish on-chain metrics
Beyond just technical analysis, the optimistic view for WIF is also reinforced by on-chain indicators. Currently, Coinglass’ Long/Short ratio for WIF is 1.067, which is the highest it’s been since late August 2024. This suggests a robust bullish attitude among traders, as such a high number signifies more long positions than short ones.
Additionally, the Futures Open Interest has experienced a significant surge of 14.5% and keeps climbing at a consistent pace. The persistent increase in Open Interest during a bullish trend indicates that traders could potentially be accumulating long positions.
Read dogwifhat’s [WIF] Price Prediction 2024–2025
Currently, World Internet Firms (WIF) is close to $2.33 per share and has seen an increase of more than 8.9% in its value within the last day.
Over the specified timeframe, I observed a significant surge in the token’s trading volume, which increased by approximately 17%. This rise suggests that more traders are engaging with the token, potentially signaling an imminent major price explosion.
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2024-09-27 15:35