With memecoins continuing to thrive, WIF appears to be a solid long-term bet.
DCAing around the current price level could be a strategic move for investors as WIF is well-positioned for further upside.
Although recent AMBCrypto analysis hinted at a possible drop to the $2 zone, WIF seems to be holding steady around the $2.50 mark.
Dogwifhat, a Solana-based memecoin, appears to be in the process of forming a rising wedge pattern as traders buy every dip, reigniting bullish sentiment. The increasing number of holders coupled with minimal dips indicates that market sentiment remains positive. WIF holders continue to rise, with 189,350 holders and 56% of them holding more than $10 worth of WIF. If WIF can maintain the lower boundary of its wedge at $2.50, it could see a rebound to $3.10, offering potential gains of up to 20%.
However, a break below this level could lead to a retest of the $2 zone.
