Dogwifhat Rising Wedge Signals Potential Bullish Rally Ahead

• Dogwifhat could rebound with a rising wedge pattern, signaling potential upward movement based on technical analysis.
• The TD Sequential indicator shows a buy signal for WIF, suggesting continued bullish momentum for the meme coin.

In a tweet, on-chain analyst Ali Martinez shared that Dogwifhat (WIF) might be forming a rising wedge pattern on the 4-hour time frame chart.

For traders, this pattern is absolutely vital since it indicates possible movement. Martinez pointed out, “we could see a rebound to $3.10 if the lower bound at $2.50 holds.” Many investors have previously seen this technical insight pointing to a likely bullish continuation.

TD Sequential Buy Signal Adds Confidence to WIF Bullish Prospects 

Martinez highlighted another key indicator supporting WIF momentum, noting that the TD Sequential had been accurate in predicting the WIF trend and now indicated a buy signal.

Renowned for its accuracy in spotting trend reversals, the TD Sequential has now flashed a buy signal for WIF, therefore adding more weight to the prospect of upward mobility.

Meanwhile, WIF is swapped hands about $2.64 at the time of writing, up 1.21% over the last 24 hours and with an amazing 73.02% growth over the last 30 days. This performance draws attention to the Solana-based meme coin, which stands out in a crowded market and shows the growing investor interest in.

With numerous meme tokens rising by thousands of percent and becoming millionaires even before a significant bull run has started, meme coins have grabbed front stage in 2024.

Meme coins have especially been amazing this year; WIF is no exception. Together with well-known names like PEPE, BONK, POPCAT, and FLOKI, WIF is among nine meme coins that have ranked among the top 100 cryptocurrencies by market cap, according to CNF.

Fascinatingly, Dogwifhat is not the only meme coin causing stir-rings. Based on market cap, First Neiro on Ethereum (NEIROCT), another dog-themed token, has also ranked among the top 100 cryptocurrencies.

As we previously noted, the remarkable performance of NEIROCT raised its valuation above $800 million, therefore accentuating the continuous hype about meme tokens.