Dogwifhat Price Prediction: As WIF Drops 5%, Investors Flock To This Other Solana Meme Coin Before Its First Exchange Listing

Blockchain
0

Join Our Telegram channel to stay up to date on breaking news coverage

The Dogwifhat price dropped 5% to trade for $4.4070 as of 03:56 a.m. EST time alongside a 4% rise in trading volume.

Markets are coming out of the Easter holiday, which explains the abysmal trading volume. Nevertheless, WIF continues to hold well above $4.0000, meriting the Solana-based meme coin for a position among CoinMarketCap’s trending list.

On market capitalization metrics, the meme coin is currently at $4.389 billion, but traders and market watchers anticipate that it could reach $5 billion soon.

From a technical standpoint, the Dogwifhat price is coiling up for a strong breakout. However, this is contingent on whether the bulls can hold it above the midline of the ascending parallel channel, the governing chart pattern on the 8-hour timeframe.

A bounce above the midline could set the tone for a strong move north, which could see the Dogwifhat price hit $5.0000.

Multiple technical indicators support the thesis as the Dogwifhat price holds above the short Moving Average (MA) at $4.3414. Increased buying pressure coming from this buyer congestion level could send the Dogwifhat price north to shatter the resistance due to the upper boundary of the channel. Such a move, confirmed by a flip of the upper band of the Bollinger indicator at $4.9947 into support could open the expanse for a continuation rally.

The position of the Relative Strength Index (RSI) above 50 is also bullish, accentuated by the Awesome Oscillator (AO) indicator, which remains well above the mean level.

TradingView: WIF/USDT 8-hour chart

Converse Case

On the other hand, increased buying pressure could see the Dogwifhat price drop. A slip below the midline of the channel could encourage more sell orders. This could see the WIF price test the centerline of the Bollinger indicator at $3.7121. A decisive candlestick close below this level would mark a breach of the mid-March highs around $3.5672.

The bears could recover the market around this level, sending the Dogwifhat price lower. Meanwhile, investors are flocking to Smog, a Solana meme coin that is due for its first exchange listing soon. As the Dogwifhat price struggles to sustain the bullish outlook, consider diversifying into Smog. The project is currently offering a 10% discount for early project entrants as analysts say it could 100X at launch.

Promising Alternative To Dogwifhat

Smog is the latest Solana meme coin and analysts say it’s set to benefit from its dragon theme, which is likely to appeal to Asian investors. This is amid the ongoing Lunar Year of the Dragon. The assumption is based on their shared dragon theme. The token emerges among the most talked-about meme coins in 2024 after a debut on Jupiter DEX.

Smog promises the mother of all airdrops. The project is committed to surpassing even the landmark $700 million airdrop by Solana’s JUP. Towards this endeavor, the project has allocated 35% of the total token supply (1.4 billion tokens) for this purpose.  Smog project participants can accumulate airdrop points by engaging in a campaign on Zealy.

Smog meme coin is a fresh entrant into the meme coin market, operating on the Solana blockchain, and it’s already burst into the ranks of the top 25 meme coins by market cap. The SMOG airdrop campaign is rapidly approaching major milestone goals for community growth and participation.

Right now you can buy and stake Smog for a 10% discount. But hurry soon to catch the deal before it ends.

Smog To Storm Onto CEX With New Airdrop

SMOG is due to list on a centralized exchange (CEX) “very soon,” according to the latest announcement on social media by the token’s frontrunners’. Based on the announcement, the listing will be a landmark event, with project leads urging #Dragons (the pet name for denizens of $SMOG’s army) to “get ready for the first $SMOG Exchange Listing coming very soon.”

SMOG CEX

Visit and buy Smog here.

Also Read:

Smog (SMOG) – Meme Coin With Rewards

Smog token
  • Airdrop Season One Live Now
  • Earn XP To Qualify For A Share Of $1 Million
  • Featured On Cointelegraph
  • Staking Rewards – 42% APY
  • 10% OTC Discount – smogtoken.com

Smog token


Join Our Telegram channel to stay up to date on breaking news coverage


Credit: Source link

You might also like More from author
Leave A Reply

Your email address will not be published.