The Solana-based meme coin, Dogwifhat (WIF), is showing significant growth amid increased interest from investors and large holders. Over the past seven days, the price of WIF has surged 43%, from $1.62 to $2.27.
WIF Whale Buying Spree
On September 26, 2024, the largest holder of WIF purchased 894,854 WIF tokens for $2 million at an average price of $2.24, as reported by Lookonchain. This significant acquisition indicates the token's potential despite recent price surges. Additionally, this holder acquired over $4.2 million worth of tokens at an average price of $1.76 on September 20, 2024. Following these purchases, the whale now holds 32.1 million WIF tokens worth $71 million, with an unrealized profit of over $86 million.
Dogwifhat (WIF) Technical Analysis
According to CoinPedia's technical analysis, WIF is currently facing resistance around the $2.3 level. Based on the meme coin's recent performance, it might experience a slight price correction before further rallying. If WIF can close its daily candle above the $2.4 level, there is a strong possibility of further growth by 20% to reach the $2.85 level in the coming days. Currently, market sentiment remains bullish, and large holders continue to buy tokens enthusiastically, signaling a potential breakthrough of this resistance level.
WIF Current Price Momentum
At the time of writing, WIF is trading around the $2.20 level, having surged over 9% in the past 24 hours. During the same period, trading volume increased by 18%, indicating strong trader interest as it approaches the resistance level.
The meme coin Dogwifhat (WIF) continues to attract market attention with its impressive growth and high activity from large holders. Technical indicators suggest potential for further price increases, despite possible short-term corrections.
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