Dogwifhat (WIF) Price Trends Within a Narrow Range, Eyes Support

Dogwifhat Analysis. Source: TradingView

This movement suggests the meme coin’s shorter-term and longer-term moving averages are staying close together. This indicates a lack of strong directional movement in the price, confirming consolidation.

WIF Price Prediction: Bearish Sentiments Remain High

Although market participants are unsure of WIF’s next price direction, the meme coin is still trailed by a significant bearish bias. As of this writing, the altcoin’s weighted sentiment is -0.74.

Dogwifhat Weighted Sentiment. Source: Santiment

This metric tracks the overall mood of the market regarding an asset. It considers the sentiment trailing the asset and the volume of social media discussions.

When an asset’s weighted sentiment value is below zero, most discussions on social media platforms are fueled by negative emotions like fear, uncertainty, and doubt.

If this trend continues, WIF’s price might fall below its new support level of $1.59.

Dogwifhat Analysis. Source: TradingView

However, if market sentiment shifts to positive, the token’s price might rise to break above the upper line of the newly horizontal channel.

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