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The Dogwifhat price surged 8% in the last 24 hours and 58% in a week to trade at $2.45 as of 3.39 a.m. EST on trading volume that skyrocketed 61% to $640.6 million.
The pump helped the token return to the top 50 cryptos by market capitalization in 43rd spot with a market cap of $2.39 billion.
It is also the fourth-largest meme coin, just behind Pepe in third place, Shiba Inu and Dogecoin.
The token’s surge comes as part of a rally seen across the industry, which allowed most meme coins to experience a strong price boost. Sentiment surrounding the sector remains overwhelmingly positive.
Dogwifhat Price Prediction
The Dogwifhat price has seen a big surge in the past week, most of which took place over the last five days. However, the surge was interrupted earlier today when the token hit a resistance at $2.50.
The barrier rejected its price slightly, causing it to drop down toward a support at $2.40, which may be able to stop it from descending further.
According to the project’s Relative Strength Index (RSI) value, the price drop likely came due to a number of traders moving to take. The RSI shows whether treaders are overwhelmingly buying or selling, and the drop in its value suggests that many have likely waited until the project hit $2.5, before they started selling to take profit.
As a result, the RSI value went from 70 toward the neutral area at around 50. Now, it depends on the traders whether it will continue to sink, or if it might bounce back up in hours to come.
One positive thing is that the project’s Bollinger bands still remain wide, with the price currently being halfway between the upper and lower bands. Previously, during the bullish momentum, the price was pushing the upper band further up, but now, it feels more balanced halfway between the two.
This also suggests that the market has not turned strongly bearish but rather that it might find certain stability. This further suggests that the current WIF price drop could only be a brief correction, which might allow the meme coin’s value to climb back again if traders move in to buy the dip.
Promising Alternatives to dogwifhat
While there is a good chance that WIF might see a rebound in the hours to come, traders eager to identify the next big meme coins stars might want to consider a new Pepe derivative that’s in presale.
It’s called Pepe Unchained (PEPU) and it’s already raised over $4.3 million. PEPU is a new meme coin that’s a more advanced version of Pepe — one that managed to get “unchained” and shed the limitations of the Ethereum network.
This comes from the fact that the project launched its own Layer-2 blockchain on top of Ethereum, thus freeing itself from its shackles. There are no long waiting times or high transaction fees like those that frequently afflict the Ethereum network.
Pepe is preparing to launch his own Layer 2 blockchain solution soon:
🧠 Instant bridging between ETH and Pepe Chain
🧠 Lowest transaction fees
🧠 100x faster transaction speeds compared to ETH
🧠 Dedicated Block ExplorerGet ready to join the future with Pepe Unchained! ⛓️🐸 pic.twitter.com/9gxNnddMyq
— Pepe Unchained (@pepe_unchained) July 18, 2024
Thanks to its L2 chain, Pepe Unchained is fast and cheap, but it is still technically in Ethereum’s ecosystem, which allows it to enjoy the larger and older blockchain’s security features.
As such, it managed to secure the best of both worlds, all while wearing the name of one of the largest and most successful meme coins in the market.
Its ICO has been praised by traders and experts, including the popular crypto YouTuber Jacob Crypto Bury. He speculated that the token has 10x potential after it launches.
PEPU tokens sell for only $0.0085277. Join the project before a price hike in a little more than a day to get the best price possible.
Visit the official PEPU website here with ETH, USDT, BNB, or credit/debit cards.
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