Why Is Dogwifhat’s WIF Price Going Up?

Dogwifhat’s WIF token has surged over 25% today to $0.28, following increased trading volume on major exchange Binance. As trader JB_CHILLEN_10 reported on X, the 24 hour trading volume for WIF on Binance Perpetual swaps hit $266 million, sparking significant interest in the token. The more attention and activity WIF sees from traders, the higher the likelihood of further price rises.

In addition to rising volume, technical indicators are signaling room for more upside in WIF’s price. As mr_pumpkin noted on X, the 50 and 100 EMAs (exponential moving averages) have been “reclaimed” on the 4-hour chart.

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With these key moving averages surpassed, it suggests bullish momentum could push the price higher. Mr_pumpkin also warned that “You might never get an entry considering how fast the price usually moves up on memecoins.

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Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.