Solana’s Dogwifhat Meme Coin Flashes Buy Signal At $2.5, Is It Time To Jump In?
October 17 2024 - 2:00PM
NEWSBTC
According to a technical indicator, Solana-based meme coin
Dogwifhat is gearing up for an upside move. Top analyst Ali
Martinez recently shared a bullish perspective for Dogwifhat on
social media platform X, with the TD Sequential indicator
indicating a buy signal. TD Sequential Flashes Buy Signal At $2.5
As Ali Martinez noted, the TD Sequential has been highly spot on
with predicting trends in the price of Dogwifhat for a while now.
The TD Sequential indicator consists of two phases: a setup phase,
which generates a count from 1 to 9 based on a specific price, and
a countdown phase, which also counts down based on previous price
action. Related Reading: Crypto Analyst Says Bitcoin Price
Can Port To $86,600 If It Breaks This Level Martinez shared
insights from the WIF/Tether US 4-hour candlestick price chart,
illustrating that the TD Sequential indicator has consistently
delivered accurate buy and sell signals for Dogwifhat since the
beginning of October. As it stands, the indicator is now pointing
toward a buy signal. For a buy setup on the TD Sequential, the
current candle’s close must be lower than the close of the previous
four candles. At the time of writing, Dogwifhat has experienced a
correction of approximately 14% over the past three days, having
peaked at $2.958 on October 14. However, the TD Sequential on the
4-hour candlestick chart is now pointing towards the continuation
of a larger upward trend for the rest of the month. What’s Next For
The Dogwifhat Price? Dogwifhat’s popularity kicked off in early
2024 when the meme coin community enthusiastically dubbed it the
“Shiba Inu Killer.” Dogwifhat, which started the year around $0.15,
was shot into the spotlight in March and April during a frenzy
surrounding Solana-based meme coins in the first half of
2024. This surge in interest caused Dogwifhat to go on a
price rally, culminating in an all-time high of $4.83. Following
this all-time high, the meme coin experienced a substantial
correction and is now characterized by smaller rallies and
corrections. However, it still remains the largest Solana-based
meme coin with a market cap of $2.56 billion. Related Reading:
Bitcoin Price To $130,000 By January, Here’s The Roadmap Even with
the recent price decline over the past three days, Dogwifhat has
managed to maintain impressive gains of around 68% over the past 30
days. Now that the TD Sequential indicator is printing a buy
signal, this price increase is expected to continue for the rest of
what looks like a bullish October. At the time of writing, the
Solana-based meme coin is trading at $2.57, with a bullish price
target of $4 before October comes to a close. Solana, on the other
hand, hasn’t been able to keep up with Dogwifhat gains in the past
30 days. At the time of writing, Solana is trading at $153, up by
15% in the same 30-day timeframe. Featured image created
with Dall.E, chart from Tradingview.com
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