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Since April, the Dogwifhat (WIF) price has declined due to resistance from a descending trendline. Moreover, the WIF price has triggered a breakout from the trendline and sustained.
The token’s price has surpassed the 200-day EMA after the breakout. The bullish momentum has slowed down as it reached the last swing high. Let’s analyze its forecast after this breakout.
Does WIF Price Keep Upside Potential?
According to InvestingHaven (@InvestingHaven), the WIF price has hit the critical breakout level. The price has reached the last swing high, and it needs to sustain over the $2.55 mark until Oct 20 for a valid breakout.
Can $WIF Hold Its Breakout?#dogwifhat surged past resistance, but it needs to stay above $2.55 until Oct 20 for the breakout to be valid.
— InvestingHaven (@InvestingHaven) October 13, 2024
This level is essential for momentum.
Failure to hold could lead to a reversal. pic.twitter.com/Vn0dpV8WX7
Buying momentum can be anticipated if the WIF crypto price manages to hold it over the $2.55 mark. Alternatively, if it fails to do so, reversal can be seen.
Does Dogwifhat still Need to be more popular?
Another analyst, Greeny (@greenytrades), mentioned on X that the WIF token is unpopular among traders and investors. It is expected to reach a valuation of $10 Billion in the upcoming days.
$WIF will be a $10 Billion Memecoin before we know it pic.twitter.com/bZ5QoiQNY5
— Greeny 🇦🇺 (@greenytrades) October 12, 2024
On a 3-D time frame, the WIF has shaped a falling wedge pattern and has triggered a breakout. If the buyers remain strong, the market capitalization may touch the $7 Billion mark.
Can WIF Price Acquire 50% in October?
When writing, the WIF price was trading at $2.75, which has 3.11% in the past 24 hours. The market capitalization was $2.77 Billion, and the 24-hour trading volume was $519.31 Million.
The WIF token price has been struggling below the $3 mark for the last few days. If the digital asset price surpasses the $3 mark, it could give a bullish spark. In contrast, if the digital asset price is over the $3 mark, it may perform positively for the next few weeks.
Alternatively, sellers could dominate if the price faces resistance from the last swing high. Assuming the price slips below the 200-day EMA, sellers may dominate. Additionally, the price may melt to the daily demand zone.
The MACD and the Signal line have extended to the positive territory per the technical indicators.
Additionally, the histograms have remained green for the past few weeks, demonstrating the bulls’ domination. The WIF price has surpassed the key moving average, which could trigger a bullish scenario.
Dogwifhat Price Performance
WIF token price has witnessed a green era for a year, and investors have remained profitable. It has gained 23.87% in a week and 78.57% in a month.
The WIF price has surged by 60.87% in the past 6 months and has gained 115.80% YTD. This chart shows that buyers have shown their complete domination.
Dogwifhat Price Analysis and Forecast
The WIF price has shown significant movement, surpassing key moving averages and reaching the last swing high. There is potential for the price to reach the $10 mark. However, several factors need to be considered.
If the price stabilizes above $3, it could trigger a bullish trend. On the other hand, if it faces resistance and falls below the 200-day EMA, sellers might dominate. Technical indicators such as MACD and the Signal line seem to support a bullish scenario.