Dogwifhat price plunged 3.5% to $1.9 on Sunday trading sessions, underperforming in the less volatile weekend.
The price of memecoin Dogwifhat (WIF) rose over 36% this week, reaching $1.9 on Sunday after a key investor purchased 800,000 WIF tokens.
According to on-chain tracker Lookonchain, the largest holder of Dogwifhat increased their stake further by purchasing 800,556 WIF for $1.92 each, using 1.54 million USDC. This acquisition raised their total holdings to 28 million WIF, with a market value of $53.23 million.
The tracker also highlighted the investor's aggressive buying spree, which included depositing $35.48 million worth of WIF into Kamino over the past three days and securing a $3.24 million USDC loan to purchase an additional 1.8 million WIF.
Such substantial investments by major stakeholders typically contribute to a sustained market recovery, especially for an asset like Dogwifhat, which is highly influenced by community engagement and hype.
Meanwhile, the open interest for WIF in the futures market surged from $192.8 million to $264.1 million within a week, marking a 37% increase, according to Coinglass. This significant growth suggests a rising interest among investors, indicating strong market confidence or speculative activity.
As the open interest rises rapidly, it creates more liquidity in the futures market, which can support further price movements for Dogwifhat (WIF). However, it's also crucial to note any changes in the funding rates to gauge the directional bias of the majority of leveraged traders.
suggest a cool-off to recuperate from the bullish momentum. Thus, the WIF price is poised for renewed recovery amid whale accumulation and open interest spike in future markets.
This week, the cryptocurrency market witnessed a notable recovery amid a Bitcoin price rally of above $64,000. Following the momentum, the dog-themed memecoin Dogwifhat bounced from $1.39 to $1.9, registering a 36% growth.
An analysis of the daily chart reveals this upswing as the development of a falling wedge pattern— a major reversal pattern since March 2024. While the two converging trendlines of the pattern drive a steady downtrend, in theory, it signals diminishing bearish momentum. Thus, with sustained buying, the Dogwifhat price could rise 12% before challenging the overhead trendline at $2.1.
The above is the detailed content of Dogwifhat Price Soars as Key Investor Acquires 800K WIF. For more information, please follow other related articles on the PHP Chinese website!

Dogwifhat (WIF) and PEPE are displaying a bullish trend these days, following a campaign by Tron and BNB chains to promote meme tokens for higher

TRON (TRX) saw daily transactions skyrocket, hitting a new all-time high on Thursday. The coin's price followed shortly after, rising over 1% to $0.1357.

The Dogwifhat price plunged 22% in the past week after tumbling 2% in the last 24 hours to trade at $2.03 as of 2.30 a.m. EST on trading volume that declined 1% to $316.47 million.

The meme coin world has witnessed an exciting shift in recent days. Dogwifhat (WIF), once the shining star of the meme token space, has seen a 6.9% rise.

DogWifHat (WIF) has been one of the top performers, with its price rocketing in the past two days. But WIF isn’t the only one rallying

With these two significant players struggling to regain their footing, ETFSwap (ETFS) is quickly emerging as the new frontrunner, promising 2,400% gains for investors who act fast.

Dogecoin demonstrates a strong ascending move after remaining consolidated for an extended period which revives the possibility of a bullish upswing

As Bitcoin hovers near its all-time high of $73k, crypto investors are witnessing a green run, especially in meme coins, including Dogwifhat (WIF).

Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

AI Hentai Generator
Generate AI Hentai for free.

Hot Article

Hot Tools

EditPlus Chinese cracked version
Small size, syntax highlighting, does not support code prompt function

ZendStudio 13.5.1 Mac
Powerful PHP integrated development environment

VSCode Windows 64-bit Download
A free and powerful IDE editor launched by Microsoft

SublimeText3 Mac version
God-level code editing software (SublimeText3)

Dreamweaver Mac version
Visual web development tools