Following many level breakthroughs, Dogwifhat (WIF) saw a price surge of over20%, with the possibility of a push over $4.2 in the next few days.
The price of the Solana meme cryptocurrency, dogwifhat (WIF), surged by a whopping 20% on Wednesday, setting the stage for more gains as altcoins stabilized the price of Bitcoin. Whales, notably trader Ansem, began to accumulate as a result of the abrupt price spike, which was supported by a 70% rise in trading volume.
WIF saw multiple breakouts
Dogwifhat, a meme coin headquartered in Solana, has surged in value by more than 20% in the past day, reaching a 24-hour peak of $3.39 on April 24. After many breakouts on Wednesday, the price of WIF saw a spike; experts even predicted a potential breakout in the previous day.
Following a week of sideways trading and consolidation in the $2.8–$3 range, Dogwifhat (WIF) experienced a breach over the $3.1% resistance level. The resistance level breakout and two-week-old ascending triangle gave WIF price an upward push that may have allowed it to break above the falling trendline. The numerous pattern creation and breakout that traders and experts witnessed caused the price of WIF to rise by more than 20%.
Ansem shared trader Bluntz Capital announced that an ascending triangle breakthrough in Dogwifhat that lasted two weeks had been confirmed. The cryptocurrency community was quite excited by this, and investors began to feel optimistic about the price of WIF once more. In April, Dogwifhat (WIF) had a surge of more than 51%.
WIF price can rally 35%
Given that WIF price has validated a breakout and retested the trendline, investors now have a chance to purchase WIF at a price of $3.2. The greatest time to purchase Dogwifhat meme currency will be at this level.
The price of WIF has increased by more than 20% in the last day, and it is presently trading at $3.38. The 24-hour high is $3.38, while the low is $2.75. In addition, there has been a 75% increase in trading volume over the past day, suggesting that traders are becoming more interested.
The price of $4.2 may be reached by extending the rise to 35%. However, given this week’s macro data and the expiration of the cryptocurrency market, low trading days are to be expected.
US spot bitcoin ETFs experience net inflows for the third day in a row
SosoValue data shows that although funds from Bitwise, BlackRock, and Ark Invest had net inflows, Grayscale’s GBTC recorded net withdrawals of $66.88 million.
According to SosoValue statistics, spot bitcoin exchange-traded funds in the United States had net inflows for a third straight day on Tuesday, bringing in $31.64 million. The bitcoin funds have been trending upward after five days of withdrawals before the halving event.
According to SoSoValue statistics, BlackRock’s spot bitcoin ETF had $37.92 million in net inflows on Tuesday, the highest daily net inflow of the day among these spot bitcoin ETFs, while Grayscale’s GBTC saw a net outflow of $66.88 million. Bitwise saw net inflows of $23.23 million, while Ark Invest’s fund brought in $33.28 million.
As of Tuesday, U.S. spot bitcoin ETFs had amassed total net assets of $55.82 billion, representing a total net inflow of $12.42 billion since their January launch.
Since conversion, Grayscale’s ETF has seen $16.83 billion leave the fund; however, net withdrawals have dropped from prior weeks. More than $2 billion left GBTC during the week of March 18.
In contrast, BlackRock’s IBIT has a current cumulative net inflow of $15.48 billion and as of Tuesday, has reported net inflows for 70 straight days.
In the last 24 hours, the price of bitcoin increased by 0.16% to $66,675.
Tesla previews the robotaxi ride-hailing app in August before revealing it
During Q1 results, Elon Musk made some vague references about what Tesla’s much anticipated robotaxi experience would entail, but the company’s Bitcoin holdings stayed the same.
Elon Musk, the CEO of electric car maker Tesla, revealed additional information about the company’s much anticipated autonomous ride-hailing service on Tuesday. The service would reportedly allow users to hail apparently driverless cars using an Uber-like interface.
The ride-hailing app’s potential features were teased by the firm on April 23 during a first-quarter results presentation. Riders will be able to request a car, control the temperature inside the vehicle, monitor its whereabouts, and choose the music to play.
Tesla has long hinted at the widespread use of robotaxis. Musk stated in 2019 that he was “very confident” Tesla would start using robotaxis by 2020, however that prediction proved false.
Under the concept, a Tesla owner could hire out their car for trips; Tesla would keep a portion of the rental income, with the owner receiving the remaining portion. It was projected that each car would generate $30,000 in gross profit yearly.
Musk emphasized on the most recent earnings call that the service will function more like a “combination of Airbnb and Uber,” with Tesla managing the primary fleet and a handful of end-user-owned vehicles.
“That end-user can add or subtract their car to the fleet whenever they want, and they can decide if they want to only let the car be used by friends and family or only by five-star users or by anyone,” Musk said.
“At any time they could have the car come back to them and be exclusively theirs like an Airbnb,” he added.
Musk stated that the first fleet will number about 7 million cars, but he thought it would eventually reach the “tens of millions.”
In the most recent earnings call, Musk referred to Tesla’s “purpose-built” robotaxi as “Cybercab.” The company is expected to unveil the vehicle in August.
Tesla didn’t add more Bitcoin
Contrary to previous rumors, Tesla has not used Bitcoin (BTC) for the seventh consecutive quarter, according to the company’s most recent financial report.
Observers discovered last month that Tesla’s Bitcoin wallet on Arkham Intelligence’s dashboard had a balance of 11,509 BTC, which is 1,789 BTC greater than the 9,720 BTC that is publicly acknowledged to have been held, according to BitcoinTreasuries.
According to some conjecture, this might indicate that Tesla increased the amount of Bitcoin it had on hand throughout the quarter.
Nonetheless, Tesla’s most recent financial statement indicates that its $184 million net digital assets have not altered.
Even though Telsa’s Q1 profits fell short of analyst projections and its sales dropped by 9% to $21.3 billion, the company’s shares surged 13% in after-hours trade.
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