The recent election of Donald Trump as the US president-elect has catalyzed a bullish sentiment in the crypto market, benefitting meme coins like Dogwifhat (WIF). In the past week, the price of Dogwifhat has surged by 15%, drawing significant attention from traders and investors alike.
Despite the bullish momentum, some investors remain cautious, expecting potential pullbacks. However, a prominent crypto analyst has projected the rally to continue, predicting Dogwifhat to reach $2.84, a 20% increase. This prediction is based on a bull flag chart pattern observed in the recent price action.
The bull flag pattern, a continuation formation characterized by a steep upward movement followed by a brief consolidation, indicates the possibility of a sustained uptrend. The current breakout from the flag pattern suggests a continuation of the bullish trend, potentially replicating the initial flagpole's length.
Currently, Dogwifhat is priced at approximately $2.40, having gained 5.9% in the last 24 hours and 14.6% over the week. The market's positive sentiment and technical indicators suggest further upward momentum, though caution remains advised.
