Solana-based dogwifhat (WIF) has seen a 30% price increase since September 23, despite still being 55% down from its March peak. This surge suggests growing interest in meme coins.
Key indicators such as Open Interest (OI) and Funding Rate imply that WIF’s recent breakout could be the beginning of a longer bull run. A notable increase in OI and positive funding indicate bullish sentiment among traders.
Technical analysis also supports this trend, with WIF’s price potentially hitting $5. However, resistance at $3.78 could pose a challenge, and failure to break this level might lead to a price drop to $1.69.
Overall, the combination of on-chain indicators and technical analysis paints a potentially optimistic future for WIF, provided it navigates key resistance levels smoothly.
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