Sentiments On The Rise: Is Dogwifhat Ready For A Strong Breakout

7月28日

Sentiments On The Rise: Is Dogwifhat Ready For A Strong Breakout?
The weighted sentiment curve has entered the positive territory above the zero line suggesting a bullish continuation.
The daily chart highlights the retest followed by a breakout of a psychological $2 level.

Dogwifhat price seemed to be pulling back this week after strong performance in the previous week. The current week yields a negative 2.1% indicating a sideways trend prevailed this week.

Earlier, Dogwifhat price added over nearly 60% in the previous week breaking out of its correction phase. The price took a rebound from $1.52 and made a breakout of psychological $2 level marking an end to its correction phase.

Looking in continuation with the previous week, the price sustained at the higher levels this week suggesting a potential for further growth in the price. At the time of writing, WIF price was exchanging hands close to $2.44 recording a mild negative intraday drop of 1.64%.
Improved Sentiments Suggest Further Growth
As per the analysts, there has been an interesting development in on-chain metrics: weighted sentiment. The positive sentiments continued to dominate the negative ones due to which the weighted sentiment entered the positive territory.

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The weighted sentiment curve highlights the overall biasness of the traders and investors. At the moment, the weighted sentiment curve has shifted to the positive territory surpassing the zero line indicating a bullish continuation in the price.

Furthermore, the transaction volume has surged by 31.24% to $317.42 Million a day. It has a live market capitalization of $2.44 Billion and ranks 36th in the cryptoverse.


Dogwifhat (WIF) is a meme coin based on the Solana blockchain, thriving on community engagement and social media hype. It originated from a popular meme featuring a Shiba Inu dog wearing a pink knitted hat.
Is Dogwifhat Price Prepared For A 35% Growth
The daily chart highlights retest followed by a strong breakout. On the lower side, the 50 day EMA may serve as a strong support and the price may take a rebound. On the higher side, if the bulls are able to surpass the $2.67, it could pave the way for a straight 35% growth ahead. The WIF price may reach $3.6 level on a sustained breakout above $2.67.

Also, the price has surpassed the 200 day EMA suggesting a bullish long term. At the time of writing, RSI was placed at 60.1 Points and that of the 14 day SMA line was at 54.18 points above the mean line. Moreover, a bullish crossover of both the lines was observed on the chart suggesting a possible bullish trend continuation.

Dogwifhat experienced a 2.1% pullback this week after a strong 60% gain the previous week rebounding from $1.52 level. This week, the price sustained higher levels, indicating potential growth. Moreover, the analysts noted a positive shift in weighted sentiment, suggesting bullish continuation.

Furthermore, the daily chart shows a retest and breakout, with the 50-day EMA as support. Now, If the price surpasses $2.67, it could rise 35% to $3.6. The WIF price is above the 200-day EMA, indicating a long-term bullish trend. The RSI is at 60.1, with a bullish crossover on the 14-day SMA, supporting a bullish trend continuation.