, the fourth largest memecoin by market cap has experienced a strong upward momentum over the past month. As of this writing, the memecoin was trading at $1.58. This marked a 0.97% decline over the past day.
Despite these gains, WIF remains 22.17% down from its recent local high of $2.03 and 67.42% from its ATH recorded in March 2024.is one of them, with popular crypto analysts eyeing a new high of $10 citing current accumulation.In his analysis, Scoop cited the accumulation as enough to strengthen the memecoin for further gains.According to the analysts, what’s happening in the market is not redistribution but accumulation.
Thus, this suggests that the price is positioned to break upward from the current consolidation range.As noted by the analysts, WIF was experiencing a strong upswing. Thus, the current market condition could allow WIF to make further gains.For example, Dogwifhat’s funding rate aggregated by exchange has been largely positive over the past week.