Dogwifhat (WIF) Gains Traction as Breakout Signals Potential 20% Surge
Popular memecoin Dogwifhat (WIF) has captured significant attention recently, with growing interest from major cryptocurrency players.
As December 7, 2024, sees the broader market showing strong bullish movements, including notable gains in Bitcoin , XRP , BNB , and DOGE , WIF is positioning itself for a potential price surge.
The meme coin has recently broken free from a period of consolidation, marked by a key Fibonacci level. This breakout signals a shift in sentiment, suggesting that the momentum could be building for a continued rally.
Experts predict that WIF may see a 20% surge, potentially reaching the previous high of $4.80, which has now become a significant support level. If the coin continues its upward trajectory, it may hit the $5 mark in the short term.
READ MORE:
Investor Makes Millions After 1,772% Profit With This MemecoinDespite the strong rally, WIF’s Relative Strength Index (RSI) is currently at 65, below the overbought threshold of 70, signaling that there is still room for growth. This indicator suggests the coin has the potential to maintain its positive momentum in the coming days.
Alongside the price increase, WIF has seen a marked rise in open interest, which grew by 16% in just 24 hours and 4.2% in the last four hours. This surge in open interest highlights growing confidence among traders, suggesting that more buying activity could be on the horizon.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ultiland: The new RWA unicorn is rewriting the on-chain narrative of art, IP, and assets
Once attention forms a measurable and allocatable structure on-chain, it establishes the foundation for being converted into an asset.

Crypto 2026 in the Eyes of a16z: These 17 Trends Will Reshape the Industry
Seventeen insights about the future summarized by several partners at a16z.
The Federal Reserve's $40 billion purchase of U.S. Treasuries is not the same as quantitative easing.
Why is RMP not equivalent to QE?
