Dogwifhat price seemed to be pulling back this week after a strong performance in the previous week. The current week yielded a negative 2.1%, indicating that a sideways trend prevailed this week.
The Dogwifhat price had added nearly 60% the previous week, breaking out of its correction phase. The price rebounded from $1.52 and broke down the psychological $2 level, marking an end to its correction phase.
In continuation with the previous week, the price was sustained at higher levels this week, suggesting a potential for further growth. When writing, the WIF price was exchanging hands close to $2.44, recording a mild negative intraday drop of 1.64%.
Improved Sentiments Suggest Further Growth
As per the analysts, there has been an interesting development in on-chain metrics: weighted sentiment. The positive sentiments continued to dominate the negative ones, which caused the weighted sentiment to enter the positive territory.
The weighted sentiment curve highlights the overall bias of the traders and investors. It has shifted to the positive territory, surpassing the zero line, indicating a bullish price continuation.
Furthermore, the transaction volume has surged by 31.24% to $317.42 Million a day. It has a live market capitalization of $2.44 Billion and ranks 36th in the crypto-verse.
Is Dogwifhat Price Prepared For A 35% Growth
The daily chart highlights retest followed by a strong breakout. On the lower side, the 50-day EMA may serve as a strong support, and the price may take a rebound.
On the higher side, if the bulls surpass the $2.67, it could pave the way for a straight 35% growth ahead. The WIF price may reach $3.6 level on a sustained breakout above $2.67.
Also, the price has surpassed the 200-day EMA, suggesting a bullish long-term. When writing, RSI was placed at 60.1 Points, and the 14-day SMA line was at 54.18 points above the mean line.
Moreover, a bullish crossover of both lines was observed on the chart, suggesting a possible continuation of the bullish trend.
Dogwifhat experienced a 2.1% pullback this week after a strong 60% gain the previous week, rebounding from the $1.52 level. This week, the price sustained higher levels, indicating potential growth.
Moreover, the analysts noted a positive shift in weighted sentiment, suggesting a bullish continuation.
Furthermore, the daily chart shows a retest and breakout, with the 50-day EMA as support. Now, If the price surpasses $2.67, it could rise 35% to $3.6.
The WIF price has exceeded the 200-day EMA, indicating a long-term bullish trend. The RSI is at 60.1, with a bullish crossover on the 14-day SMA, supporting a bullish trend continuation.
