{"id":432872,"date":"2024-10-14T20:30:24","date_gmt":"2024-10-14T15:00:24","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=432872"},"modified":"2024-10-14T15:34:44","modified_gmt":"2024-10-14T10:04:44","slug":"is-dogwifhat-poised-to-reach-4-what-key-data-says","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/is-dogwifhat-poised-to-reach-4-what-key-data-says\/","title":{"rendered":"Is dogwifhat poised to reach $4? What key data says"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">WIF\u2019s Long\/Short Ratio was at 1.07, indicating strong bullish market sentiment.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">WIF\u2019s Open Interest Funding Rate was at +0.0023%, indicating bullish sentiment toward the asset.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Popular memecoin <a href=\"https:\/\/ambcrypto.com\/predictions\/dogwifcoin-price-prediction\" target=\"_blank\" rel=\"noopener\">dogwifhat [WIF]<\/a> was poised for a notable price surge as it approached a crucial breakout point.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> Overall market sentiment has shifted from a downtrend to an uptrend, with major cryptocurrencies like <a href=\"https:\/\/ambcrypto.com\/predictions\/bitcoin-price-prediction\" target=\"_blank\" rel=\"noopener\">Bitcoin [BTC]<\/a> and <a href=\"https:\/\/ambcrypto.com\/predictions\/ethereum-price-prediction\" target=\"_blank\" rel=\"noopener\">Ethereum [ETH]<\/a> experiencing notable price surges in the past 24 hours.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If anyone is wondering how far WIF can go from its current level, it all depends on its upcoming price momentum. We could either see a massive rally or a 20% price decline.<\/span><\/p>\n<h2><b>dogwifhat technical analysis and key levels\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Per AMBCrypto\u2019s technical analysis, WIF appeared bullish at press time, facing strong resistance around the $2.88 level.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> If the memecoin follows the recent trend and closes a daily candle above the $2.96 level, there is a strong possibility it could soar by over 30%, reaching the $4 mark in the coming days.<\/span><\/p>\n<figure id=\"attachment_432881\" aria-describedby=\"caption-attachment-432881\" style=\"width: 1814px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/WIFUSDT.P_2024-10-14_11-37-06-e1728897539546.png\"><img decoding=\"async\" class=\"wp-image-432881 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/WIFUSDT.P_2024-10-14_11-37-06-e1728897539546.png\" alt=\"Dogwifhat (WIF) technical analysis\" width=\"1814\" height=\"800\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/WIFUSDT.P_2024-10-14_11-37-06-e1728897539546.png 1814w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/WIFUSDT.P_2024-10-14_11-37-06-e1728897539546-300x132.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/WIFUSDT.P_2024-10-14_11-37-06-e1728897539546-1024x452.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/WIFUSDT.P_2024-10-14_11-37-06-e1728897539546-768x339.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/WIFUSDT.P_2024-10-14_11-37-06-e1728897539546-1536x677.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/WIFUSDT.P_2024-10-14_11-37-06-e1728897539546-1200x529.png 1200w\" sizes=\"(max-width: 1814px) 100vw, 1814px\" \/><\/a><figcaption id=\"caption-attachment-432881\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">On the other hand, if WIF, along with major cryptocurrencies fails to sustain the current market sentiment, there is a possibility that it could face a 20% price decline in the coming days.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> Currently, the memecoin was in an uptrend, as it was trading above the 200 Exponential Moving Average (EMA) on a daily time frame.\u00a0<\/span><\/p>\n<h2><b>Bullish on-chain metrics\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">This positive outlook was further supported by on-chain metrics. According to the on-chain analytics firm <a href=\"https:\/\/www.coinglass.com\/currencies\/WIF\">Coinglass<\/a>, WIF\u2019s Long\/Short Ratio was 1.07, indicating strong bullish market sentiment among traders.<\/span><\/p>\n<figure id=\"attachment_432879\" aria-describedby=\"caption-attachment-432879\" style=\"width: 1742px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/djvnjdndnkdk.png\"><img decoding=\"async\" class=\"wp-image-432879 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/djvnjdndnkdk.png\" alt=\"WIF\u2019s Long\/Short ratio\" width=\"1742\" height=\"450\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/djvnjdndnkdk.png 1742w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/djvnjdndnkdk-300x77.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/djvnjdndnkdk-1024x265.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/djvnjdndnkdk-768x198.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/djvnjdndnkdk-1536x397.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/djvnjdndnkdk-1200x310.png 1200w\" sizes=\"(max-width: 1742px) 100vw, 1742px\" \/><\/a><figcaption id=\"caption-attachment-432879\" class=\"wp-caption-text\">Source: Coinglass<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Additionally, its Futures Open Interest has jumped by 10.68% in the past 24 hours and has been steadily increasing. This suggested increased trader engagement, with many potentially betting on long positions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, WIF\u2019s Open Interest Funding Rate was +0.0023%, indicating bullish sentiment toward the asset.<\/span><\/p>\n<h2><b>Major liquidation levels\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">As of now, the major liquidation levels were at $2.748 on the lower side and $2.866 on the upper side, with traders over-leveraged at these points, according to Coinglass data.\u00a0<\/span><\/p>\n<figure id=\"attachment_432876\" aria-describedby=\"caption-attachment-432876\" style=\"width: 1463px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/vndjnvdvmkdd.png\"><img decoding=\"async\" class=\"wp-image-432876 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/vndjnvdvmkdd.png\" alt=\"Major liquidation levels \" width=\"1463\" height=\"635\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/vndjnvdvmkdd.png 1463w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/vndjnvdvmkdd-300x130.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/vndjnvdvmkdd-1024x444.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/vndjnvdvmkdd-768x333.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/vndjnvdvmkdd-1200x521.png 1200w\" sizes=\"(max-width: 1463px) 100vw, 1463px\" \/><\/a><figcaption id=\"caption-attachment-432876\" class=\"wp-caption-text\">Source: Coinglass<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">If market sentiment remains unchanged and the price breaches the $2.866 level, nearly $3.80 million worth of short positions will be liquidated. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Conversely, if sentiment shifts and the price falls to the $2.748 level, approximately $7.40 million worth of long positions will be liquidated.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This data suggests that bulls&#8217; long bets are currently higher than bears&#8217; short bets.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> Combining these on-chain metrics with WIF\u2019s technical analysis indicates that bulls are dominating the asset and may help breach the upcoming resistance level.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">Read <a href=\"https:\/\/ambcrypto.com\/predictions\/dogwifcoin-price-prediction\">dogwifhat&#8217;s [WIF] Price Prediction<\/a> 2024\u20132025<\/p>\n<hr \/>\n<h2><b>Current price momentum<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">At press time, WIF was trading near $2.80 and has experienced a modest price decline of 1.15% in the past 24 hours. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">During the same period, its trading volume jumped by 25%, indicating higher participation from traders and investors amid bullish market sentiment.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>dogwifhat could soar by over 30% to reach the $4 mark if it closes a daily candle above the $2.96 level.<\/p>\n","protected":false},"author":97,"featured_media":432808,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[5824,66,3,4,20],"tags":[6427],"class_list":["post-432872","post","type-post","status-publish","format-standard","has-post-thumbnail","category-memecoins","category-new-news","category-news","category-social","category-trading-view","tag-ambcrypto"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Is dogwifhat poised to reach $4? 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