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The Dogwifhat price has dipped 13% in the past 24 hours to trade for $2.9369 as of 07:33 a.m. EST.
It follows the broader trend in the market, as altcoins follow the Bitcoin (BTC) price lower. While most altcoins are dumping, the sentiment is worse among meme coins, with some dropping by double-digits.
According to one analyst, @CredibleCrypto on X, the dump in the Dogwifhat price is attributed to interplay between WIF’s trading volume and open interest. The analyst says that the outlook of these metrics hints at a possible crash coming, if history repeats or rhymes. @CredibleCrypto’s target objective is a fall of nearly 50% to $1.50.
$WIF has retraced back to the point of breakdown, while OI has risen right back to the levels it was at prior to the last liquidation flush.
A move down of the same magnitude as the last (which is certainly possible due to similar levels of OI) puts us at ~$1.50.
Would you be… https://t.co/U8vUfk67wr pic.twitter.com/DWAF0ZO5vl
— CrediBULL Crypto (@CredibleCrypto) April 24, 2024
Dogwifhat Price Prediction
Dogwifhat price is trading within an ascending parallel channel after breaking above a descending trendline. The outlook is bullish, but this potential is threatened as the WIF bulls are not showing up. The Relative Strength Index (RSI), which appears subdued as it winds along the ‘50’ mean level shows this.
The same is shown by the Moving Average Convergence Divergence (MACD), which is closely knit with its signal line, both in negative territory. Also, the Awesome Oscillator (AO) shows the same bearish outlook, recording a red histogram bar in the negative territory. The three indicators suggest a strengthening bearish cycle.
Unless Bitcoin (BTC) price shows strength, the Dogwifhat price could drop below the 50% Fibonacci placeholder. Losing this level could send the WIF price to the 61.8% Fibonacci placeholder of $2.4745. A decisive candlestick close below this level on the daily timeframe would invalidate the prevailing bullish thesis. Such a move would encourage more sell orders, sending the altcoin to the 78.6% Fibonacci retracement level of $1.8260.
TradingView: WIF/USDT 1-day chart
On the other hand, if the 50% Fibonacci placeholder holds as support at $2.9300 and the bulls show strength, the Dogwifhat price could push north. While a break and close above the 38.6% Fibonacci retracement level of $3.3855 would be ideal, confirmation of the uptrend would only happen once the Dogwifhat price records a candlestick close above the 23.6% Fibonacci retracement level of $3.9490.
Meanwhile, SLOTH, which is a peer of WIF crypto token on the Solana chain, has blasted past the $15 million mark in presale sales with only a little over three days left to buy.
Promising Alternative To Dogwifhat
SLOTH, the ticker for the Slothana ecosystem, is among the hottest tokens on the Solana network right now. It features a 420-friendly sloth with big ambitions.
Investors are hoping to capture the same success from the Slothana ICO as others did with similar Solana meme tokens like SLERF, WIF, and BONK.
🌿💰 Prepare for the rise of Slothana! With our coffers overflowing, it's time to embark on a Sloth crusade to establish a global empire. Slothana's reign is imminent. ⚔️ Anyone who stands in its way will face the wrath of the holy Slothana army! 🚀🦥 #SlothanaEmpire… pic.twitter.com/TyFjlJTL8q
— Slothana (@SlothanaCoin) April 11, 2024
Meme coins, particularly those running on the Solana blockchain, are the latest sensation in the crypto arena. This is after the recent show of strength by the Solana price, attributed in part to its strong community and culture.
Community and culture will be the reason Solana not only survives but thrives #SOL https://t.co/2fF9BgE8B7
— Decentraleyezd (@Decentraleyezd) January 3, 2023
SLOTH Exchange Listings
The allure of the Slothana project is its laid-back character, living and lounging on the blockchain. As mentioned, its inspiration sprouts from the successes of established Solana meme coins like BOME and SLERF that went before it.
Slothana aims to replicate their impressive growth and is already planning listings on both decentralized (DEX) and centralized (CEX) platforms.
🌿🦥 Attention, fellow sloths! Poll time. Should we launch on DEX only, embracing the true spirit of decentralization and lazy trading? Or should we go full throttle, hitting up both CEX and DEX like the overachieving sloths we could be? Cast your vote below #slothana #memecoin
— Slothana (@SlothanaCoin) March 29, 2024
With markets anticipating an altcoin season after a successful halving, early investments in projects like Slothana may be primed to explode.
https://twitter.com/SlothanaCoin/status/1782342998971302135
To take part in the SLOTH presale, visit and buy Slothana here. One SOL buys 10,000 $SLOTH, which means each token has an approximate price of $0.014361 at the time of writing
Also Read:
- How to Buy Slothana – SLOTH Presale Review
- 420-Friendly Solana Meme Coin Slothana Raises $10 Million As ICO Clock Ticks Down
- Could Slothana Potentially Be the Next 100x Solana Presale Gem and Surpass SLERF?
- Top 3 Presale Gems with 100x Potential – 5th Scape, Dogecoin20, and Slothana
- Best Meme Coins to Invest in: Top Picks for Exponential Gains!
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- Audited By Coinsult
- Early Access Presale Round
- Private Trading Alpha For $WEPE Army
- Staking Pool - High Dynamic APY
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