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Information about dogwifhat (WIF)
Dogwifhat (WIF) is one of the most rapidly growing memecoins on the Solana blockchain in recent days. WIF's value has increased from 0.004 USD to 0.2 USD in less than a week of its launch, representing a 5,000-fold growth. The design of Dogwifhat (WIF) was inspired by the image of a SHIBA INU dog wearing a knitted hat, which is full of entertainment and humor.
Unlike many memecoin projects on the market that are designed with cartoons and drawings, Dogwifhat was born with a real image of a Shiba dog, which has sparked interest in the memecoin community. Despite the fact that it was only recently launched and has few technological applications, the Dogwifhat (WIF) community has grown admirably. Specifically, dogwifhat (WIF) has nearly 40,000 Twitter followers and 13,000 Telegram followers.
WIF is a native coin of the dogwifhat project, operating on Solana according to SPL standard. WIF is a memecoin so it currently does not have many uses in the Solana ecosystem.
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WIF memecoin’s price could rise by 35% to 2.10 USD within a short period. The recent bullish divergence signals a favorable market trend as the altcoin has consistently bounced from a support level at 1.30 USD.
Strong interest from traders is evident, with a long/short ratio of 4.01 on Binance, favoring long positions. Combined with Solana’s performance, this suggests bullish momentum for WIF as traders anticipate a breakout from its current range.
WIF aims for a new high of 5 USD, showing potential for a bounce back. However, following an 18.98% drop due to market conditions, it is currently finding support while market sentiments vary among traders.
A positive trend in funding rates at 0.0044% indicates bullish tendencies among long traders. Yet, large withdrawals totaling approximately 1.67 million USD from spot traders could pose downward pressure on WIF.
With open interest declining by 10.01% to 403.15 million USD, the loss of confidence among derivative traders suggests a cautious outlook. Continuous liquidations primarily affecting long positions add to the bearish sentiment in the market.
WIF trading volume is $343.24m. Market capitalization reaches $1.45b.
WIF trading volume is $345.14m. Market capitalization reaches $1.47b.
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