The recent market pump saw the surge of many sectors in the crypto market. Fueled by Roaring Kitty’s return, part of the memecoin sector registered remarkable gains over the past week, with Tokens like Pepe (PEPE), Popcat (POPCAT), and Dogwifhat (WIF) leading the way.
Due to its recent performance, some analysts forecast a new boost for WIF soon, while some whales load their bags with the dog-themed token.
Whales Put Their Hats On
Dogwifhat’s price soared after Roaring Kitty’s comeback, surging to $3.25 and prompting whales to fill their bags. However, the price fluctuations over the past week have made some large investors sell the dog-themed memecoin at a loss.
After WIF’s price dropped over the weekend, a whale 1.7 million tokens at a loss to buy BONK and the Donald Trump-inspired memecoin TREMP, the address initially bought WIF at $2.94 in March and sold it on Sunday at an average of $2.57.
Nonetheless, the price drop was seen as an opportunity for other large-scale investors. According to , a whale created a new wallet to buy Dogfight. On Monday, the wallet withdrew 1.83 million USDC from Coinbase to buy the dog-themed token.
At the time of the report, the investor had spent 606,000 USDC to buy 227,896 WIF at $2.66. The wallet had 1.22 million USDC left to continue the buying spree. A few hours later, the whale had spent another 400,000 USDC to buy 145,000 more tokens. As of this writing, the address displays a total WIF balance of 472,614, worth around $1.28 million.
Similarly, another whale a new wallet to buy dogwifhat. Per the reports, this whale used SOL to scoop 1 million WIF, worth around $2.53 million, on Sunday. Since then, the address has added more tokens to his bag, currently holding 1.39 million WIF, worth $3.8 million.
WIF Ready For A New ATH This Month?
The recent whale activity seemingly fueled the token’s price to soar above $2.7, hovering between $2.7 and $2.73 in the following hours. The surge represents a 10.4% increase in the past 24 hours.
Despite the recent performance, the token still registers red numbers in longer timeframes. WIF’s price has decreased by 8.3% and 14.8% in the weekly and bi-weekly timeframes. Moreover, its daily trading volume has seen a significant 21.6% decrease in the past 24 hours.
Nonetheless, market watchers consider that this cycle’s dog-themed sensation still has its hat on. Crypto trader Scient identified a bull pennant pattern on WIF’s chart.
Bullish pennant pattern on WIF’s chart. Source:
Per the trader, the token is still consolidating inside the pattern. The token’s performance displayed “another bullish sign indicating that this consolidation is ending soon” after having a higher high followed by a lower high.
Similarly, Ansem, a popular trader and figure in the crypto world, suggested that WIF could be preparing for new highs.
To him, dogfight will reach a new all-time high (ATH) alongside Solana (SOL) by the end of the month? The breakout will end a “3-month period of bullish consolidation after the last leg up,” lining “with BTC’s bullishness.”
Dogwifhat’s performance in the weekly chart. Source: WIFUSDT on
Featured Image from Unsplash.com, Chart from TradingView.com
Rubmar is a writer and translator who has been a crypto enthusiast for the past four years. 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.
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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’t 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’s 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’s 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 –or 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’s marching band.
She also has a passion for learning new languages and cultures, having set the goal to learn another six languages – 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 –hers or stray.
In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.
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