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The Dogwifhat price plunged 4% in the last 24 hours to trade for $2.4929 as of 01:19 a.m. EST on trading volume that climbed 3%.
The WIF price dump comes as the overall meme coin sector’s market capitalization slumped by more than 5%
Total #crypto market cap is down 3.6% to $2.43T today as #Bitcoin falls below $65K 🔴
Are you buying, selling, or HODL-ing? pic.twitter.com/1kxPzpvZ3f
— CoinGecko (@coingecko) July 25, 2024
Dogwifhat Price Prediction
The Dogwifhat price is trading with a bearish bias, recording lower highs as it consolidates within a falling wedge pattern. This technical chart pattern is considered a significantly bullish reversal pattern that is confirmed when the price breaks above the upper trend line.
From the chart below, it can be seen that the falling wedge chart pattern has yet to be confirmed, as the altcoin remains below the upper boundary of the wedge. If it does, then traders should watch for the profit target of a falling wedge.
This is determined by adding the maximum distance between the upper and lower trend lines to the breakout point, which is a 126% climb north.
Looking at the Relative Strength Index (RSI), this momentum indicator is well above the mean level of 50. The Moving Average Convergence Divergence (MACD) is also still in positive territory and holds well above the signal line (orange band). This shows the bulls have the capacity to recover the market.
Traders looking to get ahead of the prospective 126% climb should probably wait for a stable candlestick close above the wedge’s upper trendline.
GeckoTerminal: WIF/USD 1-day chart
On the other hand, if the bears have their way, the Dogwifhat price could extend the fall towards the lower trendline of the technical formation. A break and close below the $1.5131 threshold would negate the chances of a bullish reversal.
As the WIF price falls, so the PlayDoge (PLAY) presale continues to head north, prompting influential crypto YouTuber Jacob Bury to say the new Dogecoin derivative might be the next meme coin to 10x after launch.
Promising Alternative To Dogwifhat
PLAY is the powering token for the PlayDoge ecosystem. The project is a mobile-based P2E game that transforms the iconic Doge meme into a Tamagotchi-style virtual pet.
PlayDoge brings the legendary Tamagotchi virtual pet concept into the new digital economy of crypto. Ecosystem participants play through classic 8-bit side-scrolling adventures while embracing 90s nostalgia to earn crypto.
You enjoy monetary incentives based on how well you care for your pet.
The project runs on the BNB chain, delivering benefits such as lower fees and faster transactions. The BNB chain is also well known for ecosystem support, interoperability, scalability, and community adoption.
PlayDoge’s smart contract has undergone a full audit conducted by SolidProof, ensuring prospective investors have confidence in the project’s security.
If you would like to join investors who have already pumped more than $5.8 million into the project, you can buy PLAY tokens now for $0.00522.
But with that rate set to increase in a little more than a day, don’t wait too long and face a higher price.
Also Read:
- How to Buy PlayDoge – $PLAY Presale Review
- PlayDoge Price Prediction – PLAY Price Potential in 2024
- Meme Coins Flash Crash As Pepe, Dogwifhat, And Shiba Inu Plunge Amid 8% Sector Slump
- Best Altcoins to Invest In: Unveiling Top Picks for Maximum Returns!
PlayDoge (PLAY) - Newest Launch On BNB Chain
- 2D Virtual Doge Pet
- Play To Earn Meme Coin Fusion
- Staking & In-Game Token Rewards
- SolidProof Audited - playdoge.io
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