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The Dogwifhat price surged 6% in the last 24 hours to trade at $1.59 as of 04:23 a.m. EST on trading volume that jumped 3% to $468 million.
The rise comes as WIF future traders add to their positions, with analysts spotting a potential reversal pattern as the token trades almost 67% below its March all-time high (ATH).
According to a pseudonymous crypto analyst on X (Twitter) known as Bluntz, “Nobody is ready for the V reversal that’s about to happen.”
perfect channel retest on $wif.
nobody is ready for the V reversal thats about to happenhttps://t.co/zHX9WYRMOM pic.twitter.com/zfNKDI85an
— Bluntz (@Bluntz_Capital) September 3, 2024
With the current sentiments showing a negative trend, can Dogwifhat recover?
Dogwifhat Price Prediction: WIF Price Bearish, Bound For A Bullish Trend Reversal
The current WIF/USD chart shows that the Dogwifhat price is currently on a bearish trend, as the bulls struggle to push the price of Dogwifhat above the $1.95 resistance, forming a double top pattern.
However, major indicators show that WIF may be bound for a bullish trend reversal.
WIFUSD Chart Analysis (Source: GeckoTerminal)
The Dogwifhat price has now crossed above both the 50-day and 200-day Simple Moving Averages (SMAs), which supports the likely reversal in the coming days.
Moreover, the Relative Strength Index (RSI) seems to be rebounding from the 50-midline level, suggesting that buying pressure is picking up at this level.
The Moving Average Convergence Divergence (MACD) also crosses the zero line, which shows that the token’s price is on positive momentum.
If the buying momentum continues, WIF could soar, invalidating the bearish sentiments, as the bulls target $2.0.
However, if the bears capitalize on the double top, the price of Dogwifhat could plunge to the $1.28 support zone.
Meanwhile, other meme coin lovers are piling into a new Pepe derivative that goes by the name of Pepe Unchained (PEPU).
According to 99Bitcoins, a popular crypto YouTube channel with over 706k subscribers, PEPU could be the next 10x meme coin.
Pepe Unchained Raises Over $12 Million – Best Meme Coin To Buy Now?
Since its launch slightly more than two months ago, the Pepe Unchained presale has soared past $12 million after raising over $500k in the last four days.
Such a massive influx of funds in a short period is a testament to how the crypto market is seriously eyeing Pepe Unchained as the new meme coin anchor, banking on its ability to make Pepe ownership faster and cheaper with its proprietary blockchain.
As its name suggests, Pepe Unchained frees Pepe from his old, clunky Layer-1 server room via the launch of its own proprietary Ethereum Layer 2 blockchain.
Who needs some Brain Powder?
Pepe is gearing up for the official launch of his very own blockchain! 🚀 pic.twitter.com/kZC72UmxFy
— Pepe Unchained (@pepe_unchained) June 20, 2024
Token holders can also earn passively through the platform’s staking system, which offers an annual percentage yield (APY) of 168%.
You can buy $PEPU tokens for $0.0095362 each. With a price hike coming in less than 2 days, buy soon to lock in the best deal.
To join the presale, buy $PEPU from the official website here using ETH, USDT, or a bank card.
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