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The Dogwifhat price surged over 14% in the last 24 hours to trade at $3.69 as of 8:55 a.m. EST as investors flock to the Solana meme coin.
WIF’s 24-hour gain added to its already-positive performances on the longer time frames. As a result, WIF is up more than 30% over both the past 7 days and 2,033% over one year.
The Dogwifhat Price Is Attempting To Overcome Resistance
4-hour chart for WIF/USD (Source: GeckoTerminal)
The Dogwifhat price is attempting to overcome the resistance level at $3.6773. Should it break above this level, the meme coin might have the technical foundation needed to enter into a price discovery phase towards the upside.
However, a rejection by this technical barrier could lead to WIF dropping to the immediate support level at $3.3488 in the following 24 hours. Continued sell pressure should the altcoin fall to this level might then expose the Dogwifhat price to the risk of plunging down to as low as $2.9774 in the short term.
Technical indicators on WIF’s 4-hour chart suggest the meme coin might continue to climb in the next 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are showing bullish signs.
The RSI has risen to above 70. Given that an RSI value higher than 50 suggests bullish strength, the current value could signal that buyers are overpowering sellers on WIF’s 4-hour chart.
The Dogwifhat Price Might Keep Rising As Its Bullish Momentum Remains Strong
Meanwhile, the MACD line is breaking away above the MACD Signal line. Traders usually see the prior positioned above the latter as an indication that a crypto is in a positive trend. With the gap between the two lines growing, it seems that WIF’s positive momentum is growing stronger.
Traders will want to keep an eye on the RSI for the next 12 hours, as it warns that WIF is currently overbought. This is usually identified as a sell signal, given the crypto’s downside potential is greater than its upside potential.
Should traders enter into a short position for WIF within the next 12 hours, it could result in the crypto’s price testing the aforementioned support at $3.3488.
As the Dogwifhat price attempts to break through resistance, traders and investors are turning their attention to new Solana meme coin ICO Sealana (SEAL) for potential 10x gains.
Looking To Overtake Its Dog-Themed Counterparts
Investors have poured millions of dollars into Solana meme coins and Solana token presales. Big names such as BONK and WIF have led the charge in the vibrant Solana meme coin space.
Now, Sealana is looking to capitalize on the investor frenzy. As a seal-themed token, SEAL wants to make a splash in the light-hearted sector of the crypto space, which has been dominated by canine-themed tokens up until now.
From the get-go, SEAL managed to attract the attention of whales. Within just a few minutes of its launch, the Sealana ICO took in $100K in investments.
Large investors are not the only ones betting big on SEAL. Crypto YouTuber Tyler Hill told his 91.9k subscribers in a recent video that he “aped” into the new Solana meme coin.
He then speculated that the altcoin has the potential to generate substantial returns for investors, and said that Sealana could be one of the best “degen plays” currently available in the market.
Investors Rush To Buy SEAL Before It Explodes
More than $3.1 million has already been sent to SEAL’s ICO.
#Sealana ain’t slowing down anytime soon! 🔥With his companions he’s out here finishing what @realDonaldTrump started! 🦭💪
Send $SOL to clean out the swamp 🏞️ and make #Memecoins great again. 🚀💰
Once the swamp's clear, it's Lambos 🚗, Massive Gains 📈and Freedom all the way!!!… pic.twitter.com/vFMEaRZWKW— Sealana (@Sealana_Token) May 27, 2024
Anyone that wants to purchase SEAL at this early stage can do so through the simple buy widget embedded on the project’s website. Investors can acquire the token using either ETH, USDT, BNB, SOL or a bank card.
Purchase SEAL on its official website here.
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