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The Dogwifhat price surged 16% in the past 24 hours to trade at $0.9769 as of 05:02 a.m. EST on trading volume that dropped 2% to $240 million.
Dogwifhat has skyrocketed 224% over the past week as meme coin mania returns. Overall, the meme token space has generated over $7.5 billion in trading volume, showing the magnitude of investor interest.
WIF has been able to flip market stalwarts like FLOKI in terms of market value, which is a testament to its growing influence.
Dogwifhat Price Bullish, Set To Soar Higher Over The Bullish Pennant
The Dowifhat price has been on a tear this week, defying investor expectations. The rally within the markup phase allowed the bulls to breach the psychological barrier at $0.5, as it went to an all-time high (ATH) of $1.01 before a slight retrace to the current price.
WIF is currently trading over both the 50-day and 200-day Simple Moving Averages (SMAs), which is an indication of the growing trend and positive momentum to the upside.
Additionally, the Relative Strength Index (RSI) has sustained its movements over the overbought region, currently at 73. RSI over 70 indicates intense buying pressure, a confirmation of investor optimism and positive momentum.
Moreover, the Moving Average Convergence Divergence (MACD) further supports the bullish sentiments, with the moving average line (blue) trading above the signal line (orange), representing a bullish crossover.
The green bars on the histogram show positive momentum as they extend above the zero line.
Dogwifhat Price Prediction – Bulls Aim For $1.2
The Dogwifhat price short-term analysis shows a bullish trend as the price breaks above the bullish pennant. Additionally, the 50-day SMA is crossing above the 200-day SMA, forming a golden cross at $0.29. The MACD bullish crossover encourages investors to add to their positions.
WIF bulls are aiming to capitalize on these factors to drive the price up, breaching the resistance at $1 as they aim for the next resistance level at $1.2. The target is only 20.34% down currently, and reaching this level could trigger more buys, soaring the price even higher
However, the RSI has already entered the overbought region, which may indicate a looming price correction. In this case, the bears could take control of the price, driving WIF back to the support zone at $0.50, coinciding with the 50-day SMA.
Meanwhile, as the WIF price soars, investors are also investing in Smog as it, too, surges in anticipation of its huge airdrop plan.
Buy SMOG: The Next 100X Opportunity?
Smog, a new arrival on the Solana blockchain, aims to dominate Solana-based meme coin titans BONK, MYRO, and WIF, and uses the slogan, “One meme coin to rule them all.”
One #Memecoin to rule them all! 🚀
Get ready for the greatest #Airdrop in history, distributed on #Solana. 💰
Join #SMOG on Zealy! 🔥
Link in Bio 🔗 pic.twitter.com/vsn4p5cSF4
— SMOG (@SMOGToken) February 8, 2024
Key to that plan is its promise of the the mother of all airdrops, for which it has allocated 35% of the 1.4 billion token supply.
To qualify for the Smog airdrop, the easiest and most direct way is to buy and hold Smog tokens. Additionally, you can take part in different tasks, managed by Zealy, where you accumulate points. There are already over 10,000 airdrop members on the platform, having carried out over 700,000 tasks.
The buzz surrounding the token has been exponential, garnering over 30,000 holders and over 68,000 cross-platform communities, hitting a $54 million market capitalization.
Smog has already garnered 16% in the last 24 hours to trade at $0.06945, as the hype continues.
Stake $SMOG, 42% Annual Rewards
Smog also has a staking option, where you can earn passively by staking your acquired $SMOG tokens for an impressive 42% annual percentage yield.
According to Jacob Bury, a crypto analyst and YouTuber, Smog has the potential to surge 100X.
You can buy the SMOG token on the official website to qualify for the historic airdrop. There’s also a 10% discount, but hurry to grab that now before it ends.
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