As a seasoned researcher with years of experience in the cryptocurrency market, I have witnessed the rise and fall of numerous digital assets. The recent bullish outlook for Solana-based meme coin Dogwifhat, as indicated by the TD Sequential indicator, has piqued my interest.
Based on a specific technical tool, it appears that the meme token Dogwifhat on the Solana network might be preparing for an upward trend. Renowned analyst Ali Martinez has expressed a positive outlook for Dogwifhat on social media platform X, citing the TD Sequential indicator as suggesting a buy opportunity.
TD Sequential Flashes Buy Signal At $2.5
According to Ali Martinez’s observations, the TD Sequential has been quite accurate in forecasting trends in Dogwifhat’s price recently. This indicator is divided into two stages: the setup stage, where it calculates a count ranging from 1 to 9 using a particular price, and the countdown stage, which also uses past market activity to decrease the count.
Martinez recently discussed the TD Sequential indicator’s performance on Dogwifhat’s 4-hour WIF/Tether price chart, highlighting that it has provided reliable buy and sell signals since early October. At this moment, the indicator suggests an upcoming buy signal. To set up a buy using the TD Sequential, the closing price of the current candle should be lower than the closing prices of the previous four candles.
Currently, the value of Dogwifhat has dropped about 14% over the last three days, reaching a high of $2.958 on October 14th. Yet, the TD Sequential on the 4-hour chart suggests that an extended upward trend could continue for the remainder of this month.
What’s Next For The Dogwifhat Price?
Dogwhiz’s fame began in early 2024 after it was playfully nicknamed the “Shiba Inu Rival” by the meme coin community. Initially valued at approximately $0.15, Dogwhiz gained prominence in March and April when there was a surge of interest in Solana-based meme coins during the first half of 2024.
Due to increased demand, Dogwifhat saw a surge in value that peaked at a record high of $4.83. After reaching this peak, there was a significant correction, and since then, it has been marked by smaller fluctuations between rallies and corrections. Despite these ups and downs, it continues to be the largest meme coin built on the Solana platform, with a market capitalization of $2.56 billion.
Despite experiencing a three-day drop in prices, Dogwifhat has still managed to achieve significant growth of approximately 68% over the last month. With the TD Sequential indicator indicating a buy signal, it seems likely that this upward trend will persist throughout the apparently bullish month of October. Currently, the Solana-based meme coin is being traded at $2.57, and analysts predict it could reach as high as $4 by the end of October.
Instead of keeping pace with Dogewhats growth over the last month, Solana has only managed a 15% increase, currently valued at $153 per unit.
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2024-10-17 21:04