WIF’s Price Set to Leap 33%? You Won’t Believe What the Charts Reveal! 🐶🎩

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  • In a merciless ballet, dogwifhat bears pirouette over the memecoin’s prospects 🩰
  • Mid-range support—one of the few things holding up WIF and, possibly, the entire cosmos

Ah, dogwifhat [WIF]—2025 has not been her debutante’s ball, but rather a relentless masquerade of misery, courtesy of our bearish friends. WIF soared to $2.22 on 03 January, presumably opening champagne, only to find the bottle empty and the value down 74%. At present, it loiters nervously in a two-month range—think fainting in the drawing room, only with less grace.

Observe, if you will, this rather sobering chart. The price has slipped well below its so-called “realized price”. WIF flirted with realized prices back in November and December, but as soon as the new year’s hangover set in—back down she went. For the uninitiated, the realized price is a kind of grand averaging of values, determined by the last on-chain tryst of each coin.

With prices skulking in the basement below that average, one can only assume our holders are throwing periodic fits—possibly while reciting their tragic annual losses aloud.

Now, onto the MVRV ratio—currently a dismal 0.48. In the fashionable world of ratios, anything below 1 is the financial equivalent of being snubbed at the opera. The MVRV’s low point, 0.22 (hit on 08 April), must have triggered fainting couches crypto-wide.

Bears remain in command, no doubt delighting in their dominance. Yet, the canny swing trader can still waltz through the chaos—a bullish setup lurks beneath the gloom.

Mid-range retest: WIF tipped for a potential 33% rally—stop the presses! 🎩🚀

Technical analysts peering over their spectacles at their screens see hope! Three bits of promising theatre support the notion of a 33% rally from the current price of $0.574—and who are we to argue when math wears a monocle?

First: that enigmatic white range formation. WIF fondly caressed the $0.54 mid-range support a few days ago, and is now considering a comeback. Classically, after such a mid-range tete-a-tete, one might expect a rally to the highs—presumably accompanied by a triumphant brass band.

Second clue: the OBV, or On-Balance Volume, has, despite everything, tiptoed above its April highs. Apparently, WIF has a secret following, and they’ve been shopping the past ten days. The plot thickens!

Thirdly, in the wings: Bitcoin [BTC] with a spot of bullish momentum. True, it’s not quite as dramatic as the prior acts, but we all know Bitcoin has a habit of dragging everything up with it—like an enthusiastic aunt at the family wedding drags people onto the dance floor. Dogwifhat may yet boogie its way into a bullish afterparty. 💃

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2025-05-07 09:26