It’s been an explosive week for Solana meme coin Dogwifhat ($WIF), which is up more than 30% in the past 7 days—and more than 10% in the last 24 hours. $WIF still has room to grow to erase its month-long slide, which saw the 4th-largest meme coin fall from $3.88 at the end of May to a low of $1.55 in late June. $WIF now trades at $2.22.
As $WIF gathers momentum, traders are wondering whether $WIF could be on track to regain the key $3 price level and potentially push onward to a new all-time high. We’ll take a closer look at what’s in store for $WIF this month and highlight a $WIF alternative with the potential to deliver 10x gains in July.
$WIF Gains Momentum, Potential Breakout to $3.20 Ahead
This week’s gains in $WIF are important to meme coin traders for several reasons.
First, they stem the losses that $WIF suffered for much of June and signal that bulls are back in control. $WIF’s gains have been mirrored by other major meme coins in the past 7 days. $PEPE is up 5%, $BONK is up 15%, and $BRETT is up nearly 20%. That’s a good sign that the momentum is broad-based and likely to continue.
Second, $WIF’s turnaround represents an important technical milestone. The token bounced upward from a support level around $1.60, and is now challenging resistance around $2.20.
The question for traders is whether $WIF can break out above the $2.20 resistance level. If it can, the next major band of resistance is at $3.20—suggesting $WIF could run above $3 in the coming weeks and deliver a significant gain for bullish traders.
According to one reading of the technical chart, a breakout could send $WIF even higher. This analysis sees a symmetrical triangle developing and predicts a price target of $4.80.
#WIF is moving inside a symmetrical triangle on a 12-hour chart🧐
In case of an upside breakout, the price target is $4.8🎯
👇Crypto Traders-join Telegram👇 https://t.co/caOlZBzS3k
. pic.twitter.com/WQnrhSWysH— Whales_Crypto_Trading 🐋 (@WHALES_CRYPTOx) July 1, 2024
However, it remains unclear whether $WIF can successfully break out. Trading volume in $WIF is over $450 million, which is only slightly above average. Notably, trading volume is down from a high of $750 million last week. That’s an indication that $WIF’s price momentum may not be backed by much, and could peter out at the first sign of pushback by bears.
Perhaps the most likely scenario is that $WIF waffles around the $2.20 resistance level for much of July. The price could test this resistance, fall, then retest it multiple times before ultimately breaking through (or falling back to $1.60) later in the month.
For now, traders should tread cautiously. The bullish movement in the meme coin market is a positive indicator for $WIF, but tokens known for their volatility could easily begin to slide again in July with little warning.
WienerAI Offers 10x Potential and Bot to Make Meme Coin Trading Profitable
While $WIF’s price trajectory remains unclear, traders and analysts are aligned on the skyward direction of a new meme coin called WienerAI ($WAI). This Ethereum-based token features its own adorable dog mascot, a sausage-shaped dachshund with just as much viral potential as Dogwifhat.
WienerAI has attracted a massive following, which the project has dubbed its ‘Sausage Army’ in celebration of its sausage-shaped mascot. Traders and early investors have bought up nearly $7 million of $WAI tokens during the WienerAI presale, and the rate of sales is accelerating as even more investors pile in.
WienerAI holds a special appeal for meme coin traders because of the project’s plan to introduce an AI-powered crypto trading bot. The bot will automatically identify opportunities in the crypto market—including breakouts like the one $WAI may be experiencing—and help traders get in before the rest of the market knows about them. The bot promises to make meme coin trading far more profitable for $WAI token holders.
Analysts are extremely bullish on $WAI, with experienced analysts like Jacob ‘Crypto’ Bury predicting 100x gains for the token after launch. Other big names in the industry like Michael Wrubel, Oscar Ramos, and ClayBro have also lined up behind $WAI with predictions for market-beating gains.
Right now, early investors in the $WAI presale can buy tokens at a discounted price of $0.000724 and earn staking rewards up to 164% APY. The next price increase is just 2 days away, so don’t miss this chance to lock in the best price for WienerAI.