Dogwifhat smashes past $3: Will WIF reach $5 soon?

Dogwifhat [WIF] bulls have stepped up their game over the last few days as the meme coin registered double-digit growth.

As a result, WIF broke above a bullish pattern, which has the potential to cause further growth in the coming days., WIF investors were having a great week as the meme coin’s price increased by a healthy 20% in the last seven days.At the time of writing, Dogwifhat was trading at $3.11 with a market capitalization of over $43.1 billion, making it the 38th largest crypto.

However, it was surprising to note that despite the hike in price and buying pressure, sentiment around the meme coin remained bearish as its Weighted Sentiment went into the negative zone.The good news was that while the meme coin’s price increased, its Open Interest followed a similar path. For starters, the metric represents the total number of active positions in a specific asset.

The Chaikin Money Flow looked bearish as it was resting under its neutral mark. Also, the Money Flow Index continued to support the buyers as it went northward. AMBCrypto then analyzed Hyblock Capital’s data to find WIF’s possible targets if its bull rally continues. We found that it would be crucial for WIF to go above $3.30 first, as it has twice failed to do that in the recent past. A successful breakout above that level would open the door for WIF to touch $4.Dipayan is a full-time journalist at AMBCrypto. He has 2 years of experience in the content creation industry. A graduate in journalism, Dipayan has a keen interest in keeping himself updated with the latest developments in the crypto-space.

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