WIF Holds Key Support as Whales Accumulate Over 39M Tokens
Main Idea
WIF maintains key support levels with significant whale accumulation, indicating potential bullish momentum despite minor losses.
Key Points
1. WIF traded between $0.821 and $0.864, showing resilience with a 5.1% range over 24 hours.
2. High-volume reversal from $0.835 suggests strong whale-backed support.
3. Whale wallets accumulated 39 million WIF tokens amid increasing memecoin rotation.
4. Technical analysis indicates critical support near $0.835, with resistance forming at $0.838.
5. A rebound from $0.828 to $0.831 in the final hour highlights temporary support holding.
Description
Dogwifhat (WIF) continues to draw attention amid volatile market conditions, with the token consolidating around $0.8319 after dipping 1.17% over the past 24 hours, according to CoinDesk Research's technical analysis model. As for the greater memecoin section as gauged by the CoinDesk Memecoin Index(CDMEME), it is up 1.79% during the same period. Price action formed a 5.1% range from $0.821 to $0.864, with critical support confirmed near $0.835 on significant volume. A sharp rally earlier this w...
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