dogwifhat (WIF) Leads the Markets with 20% Upswing While Bulls Aim for Another 10% Rise

Dogwifhat (WIF) Leads Markets with 20% Upswing, Bulls Target Additional 10%

Traders remain captivated by the remarkable growth of memecoins, which continue to thrive despite market fluctuations. Memecoin pioneer Pepe has ignited a bullish surge that has reverberated throughout the crypto ecosystem, particularly among its memecoin counterparts. This has resulted in significant gains across the sector, with Dogwifhat (WIF) leading the charge. The bullish trend is anticipated to persist in the near term.

Following a breakout from a decisive symmetrical triangle, WIF's price has surged by over 30%, reaching close to $4, a mere 12% shy of its all-time high. Bulls appear to maintain a firm grip on the rally, suggesting that the price may soon test its previous peak.

The recent surge has propelled the rally towards key resistance levels after breaking through a recent range. The RSI indicator exhibits slight bearish divergence before reaching its upper threshold, indicating a potential minor pullback before a breakout above the range is confirmed. However, even after a breakout, the price is expected to consolidate near the resistance for a period.

To validate a bullish breakout towards the current all-time high of $4.65, WIF's price must close above the ascending trend line at $4. Market sentiment remains favorable for crypto, with volume maintaining a bullish bias. Consequently, WIF's price is expected to remain elevated in the coming days. By month's end, Dogwifhat may initiate a fresh bullish push towards new highs above $5.