Dogwifhat Price Prediction: WIF Drops 9% as Traders Flock to This Solana Meme Coin Launching Today on MEXC| Trending Viral hub

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The price of Dogwifhat abandonment more than 9% in the last 24 hours to trade at $3.75 at 2:35 a.m. EST, as investors take some of their profits from the meme coin’s recent rally.

This recent price drop could be a liquidity creation move before another rise. Cryptocurrency Trader and Analyst Altcoin Sherpa said his 213.7k followers on X that his next target for Dogwifhat price is around $5.70.

Dogwifhat price is stuck in a descending channelBINANCE: Image of the WIFUSDT chart by StevenWalgenbach

4-hour chart for WIF/USDT (Source: TradingView)

He dogwifat The price has printed a couple of lower lows and lower highs on its 4-hour chart in the last 72 hours, which resulted in the formation of a descending price channel. If the meme coin continues to trade in this channel over the next 48 hours, it could be at risk of testing the support at $2.7493. A fall below this mark could see it fall to the next support at $2.1382 in the next 24 hours, if selling pressure persists.

On the other hand, a 4-hour candle close above the upper boundary of the negative price channel could invalidate the bearish thesis. Traders could identify the exit from this channel as a long entry. This potential influx of buying activity could push Dogwifhat price towards the immediate resistance level of $4.5891. Exceeding this threshold could open the opportunity for WIF to establish a new all-time high in the coming days.

Dogwifhat price may rise as technical data shows easing of bearish pressure

The technical indicators on the WIF 4-hour chart show that the sellers have the advantage over the buyers. With the Relative Strength Index (RSI) positioned below its Simple Moving Average (SMA) at around 40, it appears that the bears are overwhelmingly stronger than the bulls.

The Moving Average Convergence Divergence (MACD) line located below the MACD signal line on the 4-hour chart corroborates this and indicates that WIF is in a short-term negative cycle.

Traders and investors will want to keep an eye on the RSI indicator over the next 24 hours. Buyers seem to be slowly returning, which is evident as the RSI approaches the SMA.

A crossover between these two lines will trigger a major bullish technical flag and could indicate that buyers have regained the advantage over sellers. The MACD indicator also demands attention as the MACD histogram becomes more positive, which could be a sign that the WIF’s bearish momentum is losing steam.

WIF’s price drop follows the Binance listing it obtained in early March. Following the announcement that the leading crypto exchange would welcome WIF to its platform, the price of Dogwifhat skyrocketed.

As investors take some profits from the WIF pump, another Solana meme coin by the name of Smog is preparing to rise when it begins trading on MEXC today.

Smog could go ballistic after listing

Smog (SMOG) is one of a long list of meme coins that have exploded into the burgeoning Solana ecosystem in recent weeks. The dragon-themed crypto quickly separated itself from the rest of the pack with its gigantic airdrop campaign.

After ending the first season of this campaign with a $1 million airdrop yesterday, the project team revealed SMOG’s first major listing on the market.

Starting today at 9:00 am UTC, investors and traders will be able to trade SMOG/USDT on MEXC, which is the 11th largest crypto exchange by daily trading volume, according to data from CoinMarketCap.

This listing will not only make it easier to buy and sell Smog, but will also increase the crypto’s exposure by giving it access to a wide pool of investors.

Although this may introduce the meme coin to opportunistic sellers who will seek to profit from the cryptocurrency’s price, it could also attract many buyers, which will subsequently increase the price of the cryptocurrency.

The second season of the SMOG Airdrop begins

The Smog team distributed tokens based on the number of Zealy missions each participant completed. Investors rushed to accumulate XP and collectively completed 7.5 million missions.

With the end of the first season, the leaderboards have been reset and investors now have a new opportunity to increase their XP score for the second season.

However, there is an important difference with the second season, since the project team has placed emphasis on commercial and chain activity.

Investors can now increase their XP primarily by trading SMOG on MEXC or transacting the meme coin on-chain.

Anyone who wants to purchase SMOG can also purchase the token on the project website using ETH, USDT, or bank card. A 42% APY is also offered to anyone who stakes their tokens.

SMOG can be purchased with a 10% discount on its official website here.

Related Posts:

Smog (SMOG) – Meme Coin with Rewards

smog sheet
  • First Airdrop Season Available Now
  • Earn XP to qualify for a share of $1 million
  • Featured on Cointelegraph
  • Staking Rewards: 42% APY
  • 10% discount on free sale –

smog sheet

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