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The Dogwifhat price pumped over 11% in the last 24 hours to trade at $1.55 as of 11:45 p.m. EST as investors go long on the Solana meme coin.
This recent surge in the WIF price saw the crypto rebound from an intraday low of $1.35. As a result, the altcoin is now trading at a 24-hour high.
The Dogwifhat Price Attempting To Overcome A Technical Barrier
4-hour chart for WIF/USD (Source: GeckoTerminal)
The Dogwifhat price has printed multiple higher highs and higher lows on the 4-hour chart throughout the past day of trading, resulting in the formation of an ascending price channel. Now, the meme coin is attempting to establish a position above the $1.5096 resistance.
Should WIF close a 4-hour candle above $1.5096 within the next 8 hours, it could have the technical foundation needed to keep rising in the following 24 hours. Traders might subsequently enter into a long position for the crypto, which could push the Dogwifhat price to as high as $1.8834 in the short term.
Dogwifhat Price At Risk
On the other hand, the Dogwifhat price getting rejected by the $1.5096 mark might invalidate the bullish thesis. WIF could be exposed to the risk of falling to the immediate support level at $1.0964 in this alternative scenario. Continued sell pressure should the meme coin plunge to this technical safety net might then lead to WIF falling to $0.7028.
Bullish Technicals Suggest The Dogwifhat Price Could Keep Climbing
Looking at technical indicators on WIF’s 4-hour chart reveals bullish signs that suggest the meme coin could keep climbing through the course of the next trading day. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators point to a continued increase for the Dogwifhat price.
MACD Histogram values have been on the rise in the last 24 hours, which indicates the MACD line is breaking away above the MACD Signal line. Traders usually see this orientation of the MACD and MACD Signal line as a sign that a crypto is in a positive trend. The growing gap between the two lines also suggests WIF’s bullish momentum is picking up steam.
RSI values have also been on the rise. This could indicate that bulls are growing stronger against bears. Recently, the RSI also crossed above the major 50 benchmark, which might signal that buyers have gained an upper hand against sellers and will continue to push WIF’s price up in the short term.
While WIF tries to close above the $1.5096 resistance, Base Dawgz (DAWGZ) is fast-approaching the $3 million mark in funds raised in its presale. And the 99Bitcoins YouTube channel, with more than 706k subscribers, says the project ”Is The Next 100x Gem!”
A Base Meme Coin With A Multi-Chain Presence
Base Dawgz (DAWGZ) is a new meme coin project that allows investors to seamlessly transact across some of the most liquid and active blockchain networks in the Web3 space.
Through its implementation of Wormhole and Portal Bridge Technology, DAWGZ holders simultaneously gain access to the benefits of the BASE, ETH, SOL, BSC and AVAX blockchains.
In addition to its cross-chain capabilities, Base Dawgz is also looking to take advantage of the hype surrounding meme coins deployed on the layer-2 Base network.
Investors Bet Big On DAWGZ’s Future
More than $2.8 million has already been sent to DAWGZ’s ongoing ICO. The project’s combination of meme coin appeal and layer-2 hype seem to be working in favor of Base Dawgz.
Another potential driver behind this early success could be the 952% APY on offer to presale investors.
To get in on these rewards, investors will first need to acquire the token via the simple buy widget embedded on the project’s website.
Congrats on passing 2.8 million $DAWGZ 🥳
We’re getting closer. And hopefully we can give you an update next week 🤝 pic.twitter.com/mRvjOMwD6F
— Base Dawgz (@BaseDawgz) August 3, 2024
Once the tokens have been bought, they will need to be locked up through the staking page on the website for the purchase to be eligible for the 952% APY.
Currently, 32% of DAWGZ’s supply has been staked as investors try to lock up tokens before the next price increase, which will take place in less than 6 days.
Selling for $0.007414, DAWGZ can be purchased using a variety of cryptos given its multi-chain presence. The list of available tokens include BASE, SOL, ETH, BNB, and AVAX.
Buy DAWGZ tokens on the official website here,
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