The Solana-based meme coin Dogwifhat (WIF) has experienced a significant price surge, escalating over 20% on Wednesday. This rally is attributed to multiple technical breakouts and a stable backdrop provided by Bitcoin's price action. The momentum in Dogwifhat's price reflects a broader uptrend observed across various altcoins.
Technical Breakouts Propel Dogwifhat's Price Surge
Dogwifhat's price reached a 24-hour peak of $3.39 on April 24, following several key technical breakouts. After a period of trading sideways between $2.8 and $3, the coin broke past the resistance at $3.1. This movement was part of a two-week ascending triangle pattern, which, when surpassed, signaled strong upside potential for the coin. The breakout and subsequent retest of this trendline provided traders with a compelling buy signal, as noted by prominent traders like Ansem and Bluntz Capital, who confirmed the pattern's completion.
Market Response and Whale Activity
The price increase coincided with a significant 70% boost in trading volume, suggesting strong buying interest and accumulation activities, particularly by whale investors. This flurry of trading activity and investor enthusiasm has contributed to a notable 51% rally in Dogwifhat throughout April.
Future Price Projections for Dogwifhat
Looking forward, analysts and traders are optimistic about the continued upward trajectory of WIF's price. With the breakout now confirmed and the trendline successfully retested, the coin is poised for further gains. The entry point for new investments is currently pegged around $3.2, considered an optimal level for buying into the meme coin.
Moreover, the price is expected to escalate by an additional 35%, potentially reaching as high as $4.2 in the coming days. However, traders should remain cautious due to potential slow trading days influenced by crypto market expiries and other macroeconomic data expected this week.
As Dogwifhat (WIF) continues its impressive performance in the market, both seasoned traders and new investors are closely watching its movement, eager to capitalize on this burgeoning meme coin within the Solana ecosystem.
$WIF #WIF #dogwifhat

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On April 24, 2024, the meme coin Pepe (PEPE) experienced a significant surge of 47%, propelling it past Dogwifhat (WIF) to become the third-largest meme coin in terms of market capitalization.
According to a post by the on-chain analytics firm Lookonchain on X (previously Twitter), a whale wallet address known as 0x803, associated with rektdolphineth, accumulated a staggering 211.6 billion PEPE tokens, valued at $1.72 million, within the past 24 hours.

Whale Accumulates PEPE Tokens, Driving Upside Momentum
A notable whale investor has been actively accumulating PEPE tokens from various exchanges, both decentralized like Binance and centralized platforms such as Gateio and Uniswap. With an average purchase price of $0.000007291, totaling around $1.54 million, this whale has already garnered a substantial unrealized profit of over $173K, representing an 11% increase in their investment. Lookonchain suggests that this whale may continue accumulating PEPE tokens, further influencing the market.
In response to this accumulation, PEPE has seen an impressive 18% increase in value. Moreover, the broader meme coin sector has witnessed a collective surge of over 5%, accompanied by a 40% rise in trading volume. This indicates significant interest from both investors and traders in meme coins.
Notably, other top meme coins like Dogwifhat (WIF), Floki (FLOKI), and Bonk (BONK) have also experienced substantial upticks, with gains exceeding 20%, 15%, and 30%, respectively. As of the latest update, PEPE is trading near $0.0000079, demonstrating a notable increase in value within the past 24 hours. Over the past week, PEPE has seen a remarkable 50% surge, while its gains over the last 30 days have been more modest at 6%.
PEPE Displays Bullish Potential, Major Cryptos Lag
Expert technical analysis suggests that PEPE is displaying bullish signals, particularly on the weekly timeframe, where it has broken out of the flag and pole price action pattern. If PEPE closes above $0.0000079 on the weekly chart, there is a strong possibility of a surge exceeding 36%.
Meanwhile, leading cryptocurrencies like Bitcoin, Ethereum, and Solana are facing challenges in gaining momentum. Over the past 24 hours, Bitcoin saw a modest 0.6% increase, while Ethereum and Solana experienced slightly better gains of 2.5%.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#PEPE  #Memecoins  #Altcoin  #WIF #PEPE $PEPE $WIF $BONK