dogwifhat （WIF） faces mixed market sentiments, impacting its potential 35% rally despite strong investor confidence.
Points
- WIF price faces mixed market sentiments.
- Potential 35% rally impacted.
- High funding rate indicates strong investor confidence.
The meme coin dogwifhat （WIF） is experiencing mixed sentiments from the market, disrupting its path towards a 35% rally. Despite these challenges, WIF holders remain confident, as indicated by the consistently high funding rate.
dogwifhat Holders Stay Confident
WIF’s price is striving to achieve a significant rally but has been affected by broader market cues. This shift is reflected in the Average Directional Index （ADX）, which has dropped below the 25.0 threshold, indicating a weakening uptrend.
Despite the slowdown, the funding rate remains high, showcasing investor optimism about WIF’s future performance. This optimism suggests a strong belief in the coin’s long-term potential, even amidst current market challenges.
WIF Price Prediction: A Successful Breakout Becomes Useless
At the time of writing, WIF is trading at $2.65, having dipped after nearly flipping $2.75 into support, now a resistance level. This resistance impedes the potential 35% rally derived from a double bottom pattern. The neckline and breakout point both lie at $2.36, and when the meme coin breached it last week, a rise to $3.20 was anticipated.
However, mixed sentiments could keep WIF consolidated, risking a failure to breach above $2.75. If WIF manages to rise above this level, a rally validating the double bottom pattern could occur. Conversely, a drop below the support of $2.36 might lead to a drawdown to $2.01, invalidating the bullish-neutral thesis.