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The Dogwifhat price plunged by 37% over the last week and more than 3% in the past day to trade at $1.61 as of 6:45 p.m. EST, according to CoinGecko
The plunge made WIF the top loser among the biggest cryptos by market cap over the past week, according to Crypto Bubbles.
Image Sourced from: Crypto Bubbles
Dogwifhat Price Prediction: Will WIF Recover?
Looking at an in-depth analysis of Dogwifhat on price charts, we see that the chart highlights a rectangle pattern formed between approximately $2.8 and $1.4. This indicates a period of consolidation where the price fluctuated within these levels without a clear direction.
The Dogwifhat price recently broke down from the rectangle pattern and is currently trading near the lower boundary around $1.6, which could indicate a bearish breakout.
A clear descending trendline is visible, suggesting a strong bearish trend. The price has been making lower highs and lower lows, maintaining the downward momentum.
The immediate support is around $1.4, as indicated by the lower boundary of the rectangle. The resistance is around $1.6-$1.8, where the price might face selling pressure if it attempts to retrace.
4-hour WIF/USDT Chart | Source: TradingView
On the other hand, we see that the Woodies CCI (Commodity Channel Index) CCI is currently showing a value of -66.487, indicating that the market is in a bearish territory.
The current CCI value suggests the price might be oversold again, possibly indicating a reversal or a short-term bounce. The ADX value is at 56.50, which suggests a very strong trend. Since the trend is currently downwards, this indicates a strong bearish trend.
A Promising Alternative With A Powerful AI Trading Bot
While the Dogwifhat price plunges, investors are still rushing to buy WienerAI (WAI), a presale that has gathered over $9 million and that now is providing a final opportunity to buy before it goes public tomorrow, Monday August 5.
We raised $9M!
Thank you for your incredible support. WienerAI is now more powerful than ever! pic.twitter.com/4LKZnQCR6B
— WienerAI (@WienerDogAI) August 1, 2024
WAI is a meme coin project that includes a trading bot that employs sophisticated AI technologies. Its computer algorithms have been trained to analyze volatile cryptocurrency markets and pinpoint winning deals. That’s why it’s been dubbed the ChatGPT of crypto.
WienerAI also offers clients a smooth token exchange option to help them complete transactions quicker. This program assures that traders and investors never miss another great trading opportunity.
MEV protection is also provided inside the WienerAI ecosystem, allowing traders to ensure that they will not be frontrun by bothersome MEV bots.
WAI holders can also stake their tokens to earn an annual return of 120%. Investors have already invested 8.5 billion WAI tokens, demonstrating their long-term commitment to the project.
According to the 99Bitcoins YouTube channel, which has over 706k subscribers, WAI is one of the top three meme coins to buy now with the potential to 60x your investment after Monday’s launch.
With less than 22 hours before WienerAI lists, snap up WAI tokens now to join one of the most successful presales of the year.
Buy Weiner AI tokens here for 0.00075 each using ETH, USDT, or a bank card.
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