Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Dogwifhat (WIF), the memecoin sensation that took the crypto market by storm during Q1, has followed Bitcoin\u2019s recent downturn. As the dog-themed token faces a price decline of over 10%, some crypto analysts consider that a stop at $1 may be the next target for WIF. Related Reading: Iggy Azalea MOTHER Token Skyrockets 27% After Major Announcement Is The Hat Still On? Dogwifhat was the talk of the town earlier this year after becoming one of the leading champions of the Q1 memecoin frenzy. The token had a 95,000% \u201cturbo parabolic\u201d run from $0.004773 to its all-time high (ATH) of $4.58 at the end of March. Since then, WIF has hovered between the $2.3 and $3.7 price range, briefly testing the $4 resistance level at the end of May. Its most recent performance has led crypto analyst Bluntz to set a $1 target for the memecoin. In an X post, the analyst and trader stated that WIF\u2019s descent to the $1 prince range is \u201cinevitable.\u201d According to Bluntz\u2019s chart, the token displays a macro five-wave impulse followed by the formation of an a,b,c zig-zag pattern. To the analyst, \u201cthe plan hasn\u2019t changed,\u201d but the b wave \u201ctook longer than initially thought.\u201d Additionally, he set the target for the c wave between the $1 and $2 price range, which should offer a \u201cgenerational buy opportunity\u201d to investors. Nonetheless, the analyst\u2019s seemingly bearish forecast is based on his previous bullish prediction. To Bluntz, the memecoin will significantly retrace before the \u201cnext parabolic leg\u201d that could see WIF reach a new ATH. According to crypto trader Otsukimi, WIF\u2019s chart exhibits a solid performance. To the trader, it \u201cshows a solid last stand with a trend support alongside the mid of the complicated range.\u201d Moreover, he considers WIF\u2019s bullish consolidation to be \u201cvery wide,\u201d which makes a bounce back from its current levels possible. Elon WIF Hat As the week started, Dogwifhat was acknowledged by X owner and \u2018Dogefather\u2019 Elon Musk. During a live stream, Musk claimed having heard of the memecoin sensation before changing the topic. \u201cYes, I have heard of dogWiFihat, dogwifhat,\u201d he said. The crypto community quickly shared the news and speculated whether Musk liked the token. One user claimed, \u201cYou can tell he had more to say but stopped himself.\u201d Others were expectant of the impact the mention could have in the memecoin\u2019s price. The \u2018Musk Effect\u2019 didn\u2019t reach WIF, as the token continued hovering between the $2.65-$2.8 range. However, Musk\u2019s impact propelled a quickly created dogwifihat (WIFIHAT). The token surged by 6,200% in the hours following the live stream, going from $0.00007048 to $0.004506. WIFIHAT saw a short-lived rally as it shredded over 95% of its gains in the past 24 hours. Related Reading: Whale Deposits $21 Million In DeFi Tokens To Binance, Was It Justin Sun? WIF has also seen a decline of 14.6% on the last day, trading at $2.44 at the time of writing. This performance represents a 26.3% and 18% decrease in the weekly and monthly timeframes. Nonetheless, the token\u2019s market activity has seen a 76.1% increase in the past 24 hours, with a daily trading volume of $705.6 million. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":624102,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[91895],"tags":[26263,92565,91713,92487,92566,8375,88164,87684,91711,91712],"class_list":["post-624101","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-meme-coins","tag-crypto-analyst","tag-dog-themed-token","tag-dogwifhat","tag-dogwifhat-price","tag-dogwifihat","tag-elon-musk","tag-memecoins","tag-solana-memecoin","tag-wif","tag-wifusdt"],"acf":[],"yoast_head":"\n
WIF To Tumble? Analyst Sets $1 Target For Dogwifhat<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n