Dogwifhat (WIF) Price Could Spike Alongside PEPE and BOME Meme Coins – Here's How

Declizer called attention to the current price action of dogwifhat (WIF), saying that the price has been struggling. However, the support at $1.34 needs

Meme coin enthusiasts might be keeping a close eye on the price movements of dogwifhat (WIF) following a recent analysis.

What Happened: Pseudonymous crypto analyst Declizer brought attention to the recent price action of WIF, noting that the price has been struggling.

Crucial support is seen at $1.34, and if the bearish trends continue, this support level is crucial to watch for a possible price reversal.

According to the analyst, such a trend reversal could see WIF leading the bull rally together with PEPE and BOME.

Declizer highlighted past gains of 24x for WIF, showcasing the potential for significant price spikes during rallies.

$WIF is struggling in the current environment, with the 1.34$ support level gaining importance amidst prevailing bearish trends. A reversal is expected, positioning it to lead alongside $PEPE and $BOME in the forthcoming bull rally.

Before, we've recorded a 24x gain growth. pic.twitter.com/f3GfuaPQSp

Dogwifhat Technical Analysis: Crypto analytics firm AltFINS also provided a price analysis of dogwifhat, recognizing the downtrend in price.

The price is seen trading within a Channel Down pattern, which usually resolves in a bullish breakout and a trend reversal.

With emerging patterns, traders who believe the price is likely to remain within its channel can initiate trades when the price fluctuates within the channel trendlines.

In other words, they can sell when the price is at the top of the channel and buy when it is at the base.

However, those who see a breakout coming can initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side.

When this happens, the price can move rapidly in the direction of that breakout.

Based on the current metrics, the analytics company posted that the price direction looks strongly bearish in the short, medium, and long term.

The Moving Average Convergence Divergence Indicator shows that the MACD Line is still above the MACD Signal Line, but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum could be nearing a downswing.

The nearest support for a possible reversal is $1.5, while the nearest resistance is at $2.00.

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