WIF Price Up 31%, New High – Is PEPE Conversion Now the New Forecast
Journalist
- WIF is now trading at a record high.
- Volatility markers confirm the possibility of a large fluctuation in the value of the token.
Dogwifhat [WIF] The market’s fascination with memecoins has driven the price of Bitcoin to an all-time record high.
The price of WIF is up 54% in the last 24 hours and is the fourth largest memecoin at press time. According to Coinmarketcap.com, WIF’s market cap is now $3.3 billion. It approached PEPE’s market capital.
Lookonchain, a detective from the X Network (formerly Twitter), noted that this news was interesting because it followed a large purchase by a whale.
Lookonchain reports that the whale traded around $900 during the intraday session on March 13th. In a single transaction, $1.26 million can be used to purchase 540,837 WIF.
The same investor withdrew On March 12, Kraken sold $2.02 million worth of SOL, which was used to purchase 921,272 WIF units for an average of $2.19.
WIF was trading at $3.24 at press time. After a 43% surge, the dog-themed meme currency ranked as the #1 crypto asset with the highest gains in the last 24 hours. Data from CoinMarketCap .
Watch out for fluctuations
WIF’s double-digit price increase in the last 24 hours coincided with an increase in volatility in the market. AskFX noticed a large gap between the upper and lower bands of its Bollinger Band (BB) indicator while analyzing the token’s daily price chart.
The increasing gap between the bands indicates higher volatility in the price. Traders often interpret this as a sign that the price of an asset will fluctuate wildly depending on market sentiment.
The Average True Range of WIF (ATR) confirmed that the price could move in either direction. This indicator measures the volatility of the market by calculating an average range between low and high prices over a certain number of time periods.
It signals an increase in volatility. WIF’s ATR was 0.38 at press time. It was up 5% in the last 24 hours.
What is the current value of 1,10,100 WIFs?
A key momentum indicator suggested that WIF could be headed for a bearish price trend. Its relative strength index was 88.80.
An RSI value of this magnitude suggests that the meme coin may be overbought. When prices reach this level, buyers often become exhausted, leading to a decline.
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