Is it time to join the Dogwifhat Meme Coin of Solana, which has issued a buy signal at a price of $2.5?
According to technical indicator, the meme token Dogwifhat based on Solana is preparing for an upward movement. Top analyst Ali Martinez recently shared a bullish view on Dogwifhat on social media platform X, with the TD Sequential indicator showing a buy signal.
As pointed out by Ali Martinez, TD Sequential has been very accurate in predicting the price trends of Dogwifhat. The TD Sequential indicator consists of two phases: setup phase, which generates counts from 1 to 9 based on specific prices; countdown phase, which counts down based on previous price behavior.
Martinez shared insights into the 4-hour candlestick chart of WIF/Tether US, indicating that since early October, the TD Sequential indicator has been providing accurate buy and sell signals for Dogwifhat. Currently, the indicator is pointing to a buy signal. For the buy setup on TD Sequential, the Closing Price of the current candle must be lower than the Closing Price of the previous four candles.
Dogwifhat has experienced a pullback of about 14% in the past three days, reaching a peak of $2.958 on October 14th. However, the TD Sequential on the 4-hour candlestick chart now indicates that there will be a larger rise trend for the remaining time of this month.
Dogwifhat's popularity began in early 2024, when the meme coin community enthusiastically dubbed it the 'Shiba Inu Killer'. Dogwifhat started the year with a price of around $0.15 and became the center of attention in March and April during the frenzy around Solana-based meme coins in the first half of 2024.
Interest in Dogwifhat has surged, causing its price to pump and ultimately hitting a historical high of $4.83. After hitting this historical high, the meme coin experienced a significant pullback, and currently exhibits smaller rebounds and pullbacks. However, it remains the largest Solana-based meme coin with a market capitalization of $2.56 billion.
Even though there has been a slight decrease in price over the past three days, Dogwifhat has still maintained an astonishing increase of about 68% in the past 30 days. Now the TD Sequential indicator is issuing a buy signal, and it is expected that the price pump will continue to be bullish for the remaining time in October. At the time of writing, the trading price of meme Token based on Solana is $2.57, with a bullish target price of $4 before the end of October.
On the other hand, Solana has failed to keep up with Dogwifhat's rise in the past 30 days. As of writing this article, Solana's trading price is $153, which has pumped 15% in the same 30-day period.
(Data Source: Scott Matherson)