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The Dogwifhat price plummeted 10% in the last 24 hours to trade at $2.93 as of 11:44 p.m. EST on trading volume that plunged 16% to $575 million.
This comes as the market capitalization of the meme coin sector slumped 3% to $51.3 billion as meme coin titans like DOGE, SHIB, and PEPE dropped 4%, 3%, and 3%, respectively.
Dogwifhat Price Set To Soar Over The Ascending Triangle
The Dogwifhat price experienced a dramatic 1,777% surge in March to hit an all-time high of $4.83. However, WIF bulls have not been able to reclaim this high, with the Dogwifhat price down 39% from its ATH.
The price movements within the $2.5 and $3.8 ranges resemble an ascending triangle pattern. The bulls aim to propel the price over the upper boundary of the triangle.
WIF is trading slightly above the 50-day Simple Moving Average on the 1-day chart. This coincides with the current price retracement. If the bullish stance continues to push WIF over the upper boundary, the price will eventually overcome the 50-day SMA at $3.11, further supporting the general bullish outlook.
The Relative Strength Index (RSI) hovers near the 50-midline level, currently at 49, signaling WIF’s equilibrium and potential for a breakout.
Dogwifhat Price Prediction
The Dogwifhat price analysis on the 1-day chart indicates the likelihood of the price to soar over the upper boundary of the triangle as it gears up for a massive breakout to the upside.
The WIF bulls aim to capitalize on the RSI to prompt a buyback campaign to propel the price above, as they target a new ATH at $6.
Despite the RSI indicating equilibrium, there’s a possibility of bearish pressure driving a price retrace. This will potentially drive the price to find support near $2.2 for the bulls.
As the WIF bulls gear up for a bullish rally to the upside, investors might also consider buying Sealana, which has raised more than $278K in the first week of its presale.
Sealana: A Promising Alternative To WIF
Sealana (SEAL) is inspired by a seal meme that dreams of following in the footsteps of Solana meme coin stars like Bonk, Slerf, and WIF.
New Meme Crypto ‘Sealana’ Attracts Whales As Solana Price Recovers.
#SolanaMemecoin pic.twitter.com/zqP73U7Mk3— TechStory (@TechStoryin) May 5, 2024
The project’s mascot is based on a charming, chubby seal, who has dived into the Solana sea. Once sleek and agile, the character has now adopted a sedentary trader’s lifestyle.
TodayTrader, a crypto analyst on YouTube, believes that Sealana has the potential to surge 10X after launch.
Sealana is a ‘Send SOL’ presale that has no timers, stages, hard caps, or even a white paper. This means that the ICO could end at any time, which makes now the wise time to buy.
To participate in the presale, you can visit the official website to buy SEAL tokens here. One SOL can purchase 6,900 SEAL, which will be airdropped to investors at the end of the presale.
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