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The Dogwifhat price plunged more than 9% in the last 24 hours to trade at $2.02 as of 11:33 p.m. EST as investors dump their holdings in the meme coin.
Still, over the last 30 days WIF is still up more than than 33%.
The Dogwifhat Price At A Critical Level
4-hour chart for WIF/USD (Source: GeckoTerminal)
The Dogfiwhat price is trading near the key support level at $1.9456 after breaking below the technical safety net at $2.2908 in the last 48 hours. Should sellers force WIF below $1.9456 within the next 24 hours, the meme coin could stand the risk of falling to the next crutch at $1.6367.
On the other hand, traders identifying WIF’s current price as a buy opportunity could bring an end to the crypto’s drop. In this alternative scenario, the Dogwifhat price might try to reclaim the $2.2908 support. A 4-hour candle close above this point could then give the meme coin the space needed to rise to the major barrier at $2.6542.
Technicals Suggest The Dogwifhat Price Could Recover Soon
From a technical standpoint, indicators show that bears still have control over the Dogwifhat price, but that buyers are slowly starting to chip away at sellers’ advantage. A bullish chart pattern has also emerged on the meme coin’s 4-hour chart, which suggests WIF could surge soon.
Relative Strength Index (RSI) readings have dropped to the mid 30s to signal that WIF is currently oversold. In the last few hours, the RSI line has started to level off, which could be an early sign of the situation around the Dogwifhat price taking a bullish turn. An oversold crypto is seen as a buy opportunity, because its upside potential is greater than its downside potential.
Meanwhile, the Moving Average Convergence Divergence (MACD) line is positioned below the MACD Signal line. Although this orientation is seen as an indication of a crypto being in a bearish cycle, the positive gradient of the MACD Histogram suggests this might not be the case for much longer.
WIF’s price action has also formed a bullish falling wedge pattern on the 4-hour chart. This specific technical pattern is often interpreted as a precursor to a strong upside move.
If all of these technical signs are validated, the Dogwifhat price might soon recover to back above the $2.2908 mark.
As the Dogwifhat price looks to rise from the ashes, traders are eyeing a lucrative staking opportunity being offered by the new presale Flockerz (FLOCK).
A Truly Decentralized Meme Coin
Many projects in the crypto space claim that they are decentralized, which often turns out is not the case. This is especially true for many “decentralized” meme coins whose supply is held by either the project’s team or a handful of investors.
Flockerz (FLOCK), with its innovative vote-to-earn mechanism, will make it impossible for a single investor or a group of investors to control the project. Instead, the new meme coin will hand over control of its future entirely to its token holders.
In addition to each FLOCK token granting investors a say in how the project should develop, token holders will also earn more FLOCK every time they vote.
But this is not the only way investors can earn FLOCK, as there is also an out-of-this-world Annual Percentage Yield (APY) on offer of 5,392% to anyone who stakes FLOCK now.
Analysts are also forecasting a meteoric rise in FLOCK’s price. Popular YouTuber Jacob Crypto Bury said in a video to his 42.6K subscribers that the meme coin has the potential to generate 10X returns for investors.
Investors Bet Big On FLOCK’s Future During Its Ongoing Presale Stage
Flockerz has already raised over $401K through its ICO, as investors try to get in on the ground stages of the vote-to-earn meme coin. With the bold price predictions by experts such as Jacob Crypto Bury and the project’s high staking rewards, it’s easy to see why a frenzy has erupted around FLOCK.
Coming in for a smooth landing 🪂 pic.twitter.com/klb6Nmy4Gw
— Flockerz (@FlockerzToken) October 3, 2024
To get in on the more than 5,000% APY on offer, investors will first need to acquire the token through the simple buy widget on the project’s website.
FLOCK is selling for $0.0056785, and can be bought with ETH, USDT, BNB or bank card. Once purchased, the last step is to lock up the tokens via the staking page on the website to start earning the passive rewards.
If you are interested, buy before a price hike in less than 2 hours.
Purchase and stake FLOCK here for up to 5,392% in annual rewards.
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