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The Dogwifhat price surged 49% in the past 24 hours to trade at $0.5443 as of 03:23 a.m. EST on trading volume that surged 210% to $119 million.
Investors are returning to the excitement of meme coins as there is an increase in risk appetite throughout the cryptocurrency markets.
This enthusiasm is partly due to Bitcoin retaking $54,000 for the first time since early December 2021, and then hitting $56,000 as the crypto space anticipates the Bitcoin halving event in April. Among other meme coins witnessing a rise in value are PEPE, BONK, and FLOKI.
Dogwifhat Price Poised To Continue Its Bullish Rally Above The Falling Wedge
The Dogwifhat price has been on a gradual price increase since the start of February, as the bulls reclaimed the $0.47 resistance. However, the rejection at this level allowed the bears to take control of the price, driving it down within a falling wedge pattern.
The bulls continue to show resilience, as they used the $0.28 critical support as a cushion against downward pressure. This level then allowed them to drive the price up, breaching the upper boundary of the falling wedge.
WIF is trading above both the 50-day and 200-day Simple Moving Averages (SMAs), confirming the bullish prospect of the price. The presence of the moving average cross at $0.3 further supports a likely sustained bullish rally to the upside.
Additionally, the Relative Strength Index (RSI) technical indicator supports the momentum, as it trades above the 70-overbought region at 84, indicating intense buying pressure.
Moreover, the Moving Average Convergence Divergence (MACD) is bullish, as the moving average line (blue) crosses above the signal line (orange), representing a bullish crossover. A bullish crossover is often a call for investors to make more buys, likely to push the price even higher.
The green bars on the histogram extend above the zero line, showing positive momentum. Furthermore, the Average Directional Index is moving north at 39, indicating that the current bullish trend is very strong.
Dogwifhat Price Prediction
The Dogwifhat price analysis is generally bullish, as the bulls are aiming to sustain the price above the falling wedge pattern. If they sustain the bullish momentum, they could push the price further to $0.627, a 14.84% increase from the current price.
However, if the bears intervene, the price may slip down in a retrace back to $0.36, coinciding with the 50-day SMA.
As the WIF price continues to soar, investors looking for alternative dog-themed meme coins may want to consider Scotty the AI, an AI-integrated project that has the potential for substantial returns on investment.
Scotty the AI: A Potential 100X Opportunity
Scotty the AI aims to tackle the ongoing threat posed by cyber criminals in the crypto space through multiple layers of AI innovation. Its theme, from the Scottish Terrier, a dog breed known for its intelligence, is perfect, as SCOTTY’s AI integration enables it to roam through different codes to extract insights that veteran developers would miss.
This new Ai coin is set to explode when it launches.
Check out YouTube video below👇
Buy Presale herehttps://t.co/zRmy4g8hfWhttps://t.co/I24oqlAk5G@ClayBro883 #memecoin#bitcoin #Ai pic.twitter.com/QsZvv7aBnI
— Scotty The Ai (@ScottyThe_Ai) February 25, 2024
The project also incorporates Scotty Swap, a platform that facilitates hassle-free and fast token exchanges. Additionally, it also has ScottyChat, a chatbot that provides users with deep insights and analysis into the crypto markets.
Such interesting features have drawn a massive following, with the Scotty the AI presale on its 7th round garnering $847k as it closes in on the $1 million target.
🚨 $SCOTTY # 1 #memecoin W/utility of 2024
🎉 smart investors smashed out Stage 6 days ahead of time😳
🚀stage 7 now live and on the move. Price will increase at stage 8
Stage 1 – 6 closed out very early.
👉BUY $SCOTTY presale at https://t.co/zRmy4g8hfW#blockchains… pic.twitter.com/BojzOcG85a
— Scotty The Ai (@ScottyThe_Ai) February 26, 2024
You have only eight days left to buy $SCOTTY tokens at a discounted price of $0.00605 before a price increase.
Buy And Stake $SCOTTY, Opportunity To Earn Passively
You can also earn passively through Scotty the AI’s staking option for an impressive 141% annual percentage yield (APY). The APY will keep on reducing as staking continues, making now the best time to buy and stake your tokens.
Austin Hilton, a crypto analyst and YouTuber, highlights the project’s unique combination of AI and blockchain technology, and says he’s a massive fan of both meme coins and AI.
To participate in the presale, you can buy the tokens from the Scotty the AI official website and exchange ETH or USDT for $SCOTTY. You can also make purchases using your bank card.
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