{"id":624101,"date":"2024-06-12T02:00:47","date_gmt":"2024-06-12T02:00:47","guid":{"rendered":"https:\/\/wncen.com\/?p=624101"},"modified":"2024-06-11T21:29:20","modified_gmt":"2024-06-11T21:29:20","slug":"dogwifhat-to-tumble-analyst-sets-1-target-for-wif","status":"publish","type":"post","link":"https:\/\/wncen.com\/meme-coins\/dogwifhat-to-tumble-analyst-sets-1-target-for-wif\/","title":{"rendered":"Dogwifhat To Tumble? Analyst Sets $1 Target For WIF"},"content":{"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.<\/p>\n

Related Reading: Iggy Azalea MOTHER Token Skyrockets 27% After Major Announcement<\/a><\/div>\n

Is The Hat Still On?<\/h2>\n

Dogwifhat was the talk of the town earlier this year after becoming one of the leading champions of the Q1 memecoin frenzy<\/a>. 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.<\/p>\n

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.<\/p>\n

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.<\/p>\n

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<\/a>.<\/p>\n

\"WIF
WIF’s c wave is predicted to reach the $1 price range. Source: Bluntz on X<\/a><\/figcaption><\/figure>\n

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.<\/p>\n

According to crypto trader Otsukimi, WIF\u2019s chart exhibits<\/a> a solid performance. To the trader, it \u201cshows a solid last stand with a trend support alongside the mid of the complicated range.\u201d<\/p>\n

Moreover, he considers WIF\u2019s bullish consolidation to be \u201cvery wide,\u201d which makes a bounce back from its current levels possible.<\/p>\n

Elon WIF Hat<\/h2>\n

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.<\/p>\n

The crypto community quickly shared the news and speculated whether Musk liked the token. One user claimed<\/a>, \u201cYou can tell he had more to say but stopped himself.\u201d<\/p>\n

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.<\/p>\n

However, Musk\u2019s impact propelled a quickly created dogwifihat (WIFIHAT). The token surged<\/a> 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.<\/p>\n

Related Reading: Whale Deposits $21 Million In DeFi Tokens To Binance, Was It Justin Sun?<\/a><\/div>\n

WIF has also seen a decline of 14.6% on the last day, trading at $2.44 at the time of writing. This performance<\/a> 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.<\/p>\n

\"WIF,
Dogwifhat’s performance in the weekly chart. Source: WIFUSDT on TradingView<\/a><\/figcaption><\/figure>\n
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":"\nWIF To Tumble? 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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