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The Dogwifhat price skyrocketed by an impressive 74% over the last day to hit a new all-time high as the token traded at $1.20 as of 1:30 a.m. EST.
It’s 459% surge in a month has enabled WIF to surpass FLOKI as the fifth-largest meme coin with a market cap of $1.258 billion, compared to FLOKI’s $1.134 billion.
Top performing #Memecoins on CoinpediaMarkets🚀🚀
Dogwifhat $WIF: 316%
Pepe $PEPE: 262%
ERC20 #ERC20: 230%
Floki $FLOKI: 188%
Myro $MYRO: 124%Which meme coin has the strongest community?🔥
Vote for your fvt memecoin:👉https://t.co/GE1VN6hX5m pic.twitter.com/9IDWckVJAh— Coinpedia Markets (@MarketCoinpedia) March 2, 2024
Dogwifhat Price Prediction: WIF Displays A Strong Uptrend
Looking at Dogwifhat charts, we notice the Dogwifhat price has been in a consistent uptrend as indicated by the ascending channel pattern formed by the two trendlines.
The uptrend is further confirmed by the series of higher highs and higher lows within the channel. The candlesticks within the channel show volatility with a mix of bullish (green) and bearish (red) candles.
The Money Flow Index (MFI) is currently at 71.54, which is in the upper range indicating strong buying pressure. However, it is also close to the overbought territory (above 80), which could suggest a potential pullback or price correction if it crosses into overbought levels.
On the other hand, the Average Directional Index (ADX) is at 45.80, which suggests a very strong trend. An ADX value above 25 typically indicates a strong trend, whether up or down.
Dogwifhat Price Prediction: Possible Scenarios
If the Dogwifhat price continues to respect the lower trendline of the channel and the MFI doesn’t cross into the overbought territory, there could be potential for further upward movement toward the upper trendline.
On the flip side, should the Dogwifhat price break below the lower trendline, it may indicate the uptrend is weakening, and a trend reversal could occur. This would be confirmed if the MFI starts to decline towards the 50 level, indicating a loss of buying pressure. The immediate resistance is at the upper trendline of the channel while the immediate support is at the lower trendline of the channel.
WIF 1-hour chart | Source: TradingView
With the Dogwifhat price showing some indecision on where to head next, SMOG emerges as a compelling alternative as investors position for what the development team says will be the greatest airdrop in history.
A Promising Alternative
SMOG made its debut in early February and quickly surged over 3,000%. It’s a hit a new all-time high today after surging another 42% and now has 40,000 holders.
One may take part in the Smog airdrop by purchasing and holding SMOG tokens. One could also join Smog’s social groups, run by Zealy, and earn points by participating in tasks to be eligible for more airdrop tokens.
More than 800,000 quests have been completed as of right now. Every day, $1,500 worth of SMOG tokens are also being distributed via airdrops to BONK, WIF, MYRO, and SAMO holders.
The Smog team is allocating a whopping 1.4 billion tokens, or 35% of its supply, for the airdrop.
Join the #SMOG community on #Zealy and increase your points for the $SMOG #Airdrop. 🐲
Complete quests for extra points! 📊
Stay tuned for upcoming announcements. 📢🔗https://t.co/3EQxvQwsw3#CryptoCommunity #Altcoins #Memecoins #Binance #Crypto
— SMOG (@SMOGToken) February 21, 2024
The initiative presently delivers an astounding 42% annual percentage yield (APY) to investors who stake their tokens. Staked tokens can be withdrawn 90 days after they are added to the staking pool. Almost 16 million tokens have already been staked.
Crypto analysts and YouTuber CryptoGains says Smog has the potential to surge 100X on launch, helping create a new class of millionaires this year.
The initiative is already setting up listings on other major exchanges, so now is a great time to get involved before more potential pumps.
You can purchase Smog for a 10% discount via the official website by exchanging your ETH or USDT.
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