Dogwifhat Predicted To Soar, Big Investors Betting 20% Increase

Dogwifhat (WIF) is predicted to soar (Photo; Doc. Coin68)

JAKARTA - Solana-based crypto meme asset, Dogwifhat (WIF), is now in the spotlight. In the past week, WIF experienced a price spike of more than 43%, from 1.62 US Dollars (Rp24,534) to 2.27 US Dollars (Rp34,379). This surge sparked speculation that the meme coin is ready for a further momentum increase, especially with significant buying action from large investors.

On September 26, 2024, the largest WIF holder took a major step by purchasing 894,854 WIF tokens worth 2 million US Dollars (Rp30 billion) with an average price of 2.24 US Dollars (Rp33,924) per token, according to a report from Lookonchain. This action shows confidence that even though prices have soared, there is still potential for further growth. In addition to these purchases, the same whale had previously purchased WIF worth 4.2 million US Dollars (Rp63.5 billion) at an average price of 1.76 US Dollars (Rp26,646) on September 20, 2024. Currently, this large holder has a total of 32.1 million WIF tokens worth 71 million US Dollars (Rp1 trillion), with an unrealized gain of more than 86 million US Dollars (Rp1.3 trillion).

Based on a technical analysis of Coin Pedia, WIF currently faces strong resistance at the level of 2.3 US Dollars (Rp34,822). However, with bullish market sentiment and buying action from large investors, there is great potential that WIF prices could continue to rise. If WIF is able to close daily candlesticks above the level of 2.4 US Dollars (Rp36,336), analysts predict a 20% spike that could bring prices to 2.85 US Dollars (Rp43,149) in the coming days.

However, analysts also warn of possible price corrections before further rallies occur. This is common in meme coins that often experience sharp price fluctuations before reaching new highs.

At the time of writing, the WIF price was trading around the level of 2.20 US Dollars (Rp33,308) with a price spike of more than 9% in the last 24 hours. Trading volume also increased by 18%, indicating greater merchant participation as major resistance levels approach.