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The Dogwifhat price soared 5% in the last 24 hours to trade at $0.9798 as of 10:04 p.m. EST on trading volume that dropped 1% to $599 million.
Dogwifhat Price Poised For A Bullish Trend Continuation
The WIF price chart on the 3-day timeframe has formed a rounded bottom pattern, a strong bullish reversal signal that often marks the end of a prolonged downtrend and the beginning of a new uptrend.
The pattern has formed gradually over several months, with the Dogwifhat price action bottoming out around $0.3274 and curving upward into the $1.00 range.
A rounded bottom indicates a slow shift in market sentiment from bearish to bullish, showing increasing demand over time. WIF has now broken out from the neckline area near $0.8765, which confirms the rounded bottom pattern.
The breakout aligns with the 0.786 Fibonacci retracement level at $1.12, often serving as the final significant resistance before initiating a new bullish trend.
Meanwhile, the price of Dogwifhat now trades well above both the 21-day and 50-day Simple Moving Averages (SMAs), which is a sign of a bullish trend. However, the 21-day SMA is still below the 50-day SMA, invalidating a bullish crossover.
The Relative Strength Index (RSI) stands at 59.62, indicating growing strength without being overbought.
Moreover, the blue Moving Average Convergence Divergence (MACD) line is above the orange signal line, and the histogram bars are positive, supporting the bullish continuation case.
WIF/USDT Chart Analysis (Tradingview)
WIF Hints At A 139% Surge
WIF appears set for a potential rally toward the $1.38 resistance level. If momentum continues and the Dogqifhat price pushes through this zone, the Fibonacci target at 2.47 (0.5) come into play, a 139% surge from the current level.
However, if the price of WIF fails to hold above the 0.786 Fib level ($1.12) and drops below the $0.887 support (the neckline), a retest of the $0.52 support could follow before attempting another breakout.
Meanwhile, investors are flocking to the presale for new Solana project Solaxy (SOLX). Popular YouTube channel 99Bitcoins, with over 724K subscribers, says the crypto has the potential to soar 10X post-launch.
Solaxy Presale Closes On $37 Million
While the Solana blockchain has built a strong reputation for its high-speed transactions and low fees, it has also encountered persistent challenges, including network congestion and occasional downtime.
Solaxy aims to unlock “infinite” scalability through rollup technology, providing faster, cheaper, and more reliable transactional throughput within the Solana ecosystem.
Investors have already backed the project with $36.8 million in funding in its presale, over $2.6 million of that in the last week alone.
This layer-2 solution eases network traffic by handling transactions off the main blockchain, creating a faster processing system for Solana. By doing this, Solaxy reduces the strain on Solana’s mainnet.
Transactions are handled on Solaxy’s layer 2, and bundled together before being sent back for final verification.
The chain recently launched its blockchain explorer on testnet, a tool that lays the groundwork for tracking transactions across Solaxy’s Layer-2 before bundling and committing to Solana’s mainnet.
POV: Someone tries to tell you about something other than $SOLX. 🛸🥴#solaxy #SOLAXY_Agent pic.twitter.com/rPRjJCZ6pY
— SOLAXYTOKEN Agent (@SOLAXY_Agent) May 11, 2025
Meanwhile, the Solaxy team is also delivering their product ahead of time, with the release of the Solaxy bridge. While still on Test Net, Solaxy buyers can see how they will be able to bridge their ETH or SOLX tokens to the Solaxy Layer-2 network.
It’s still in its testnet phase and functions as a sandbox. In this separate environment, developers can test features, refine interfaces, and simulate transaction activity without using real assets or disrupting the live Solana network.
The project’s staking program also offers token holders a huge 111% annual yield.
Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens for $0.001726 each using BNB, ETH, USDT, or a bank card.
Buy before a price hike in about 4 hours to secure the best deal.
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