Dogwifhat (WIF) Backed to Hit $10 by a Top Industry Player Despite the Market\'s Recent Adversity
- PHPzOriginal
- 2024-07-12 21:00:011103browse
The fun is over for bears if trader Bluntz is accurate with his recent prediction.
The price of Dogwifhat (WIF) has crashed 55% this month, sparking concern among investors. However, one top industry player is remaining optimistic about the token’s future prospects.
Trader Bluntz, who has over 160,000 followers on Twitter, recently shared a chart showing WIF’s price action on a higher time frame. The chart suggests that the token is still trending upwards despite the recent sell-off.
“Don’t be afraid to dream a little bigger,” Bluntz wrote.
The trader then outlined a potential price path that could see WIF rally past $10 by Q4 2024.
With the crypto market in a bull market, a longer-term rally seems inevitable for WIF. But things become more convoluted on a lower time scale.
Based on Bluntz’s chart, we could see a rally beyond $3 in July but close the month on a pullback, laying the way for the next leg up.
However, WIF’s immediate course has evaded Bluntz’s predicted chart path. This is due to market-wide selling amid fears of Mt. Gox liquidations and the German government selling billions of dollars in BTC.
Nevertheless, WIF is currently trading at a 68% discount from its ATH just three months ago, potentially making it oversold.
Prominent analyst The Crypto Dog suggests that WIF will soar immediately once Bitcoin finds a bottom.
“The second BTC finds footing, coins like WIF and PEPE are primed for quick 20-30%+ pumps,” he wrote.
Meanwhile, Trader Ro revealed he is purchasing WIF at this level, likely forecasting that its bottom is in.
And like Bluntz, Trader Ro also nodded to WIF trading above $10.
Despite relentless selling pressure this month, the sentiment surrounding Dogwifhat remains optimistic. That’s a crucial factor that could aid its recovery in July and beyond.
As such, the token will likely begin tip-toeing higher once Bitcoin finds support.
But while Dogwifhat and other cryptocurrencies have struggled recently, the new meme coin PlayDoge has been showing massive strength in its presale.
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