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The Dogwifhat price soared over 32% in the last 24 hours to trade at $4.01 as of 11:23 p.m. as investors rush to buy into the meme coin.
Assets added to the roadmap today: dogwifhat (WIF)https://t.co/rRB9d3hSr2
— Coinbase Assets 🛡️ (@CoinbaseAssets) November 13, 2024
The strong 24-hour performance posted by the WIF price follows a listing announcement from the leading US crypto exchange, Coinbase. In a Nov. 13 X post, the company announced that Dogwifhat, along with PEPE and QCAD, will be added as trading options.
Dogwifhat Price Rises Above A Major Resistance
4-hour chart for WIF/USD (Source: GeckoTerminal)
The Dogwifhat price breached the $3.8303 resistance level in the last few hours, and is now trying to establish a position above the major price point. Should the meme coin stay higher than this mark for the next 12 hours, it could have the technical foundation needed to keep rising in the short term. WIF might subsequently try to flip the $4.4413 barrier into support.
Continued buy pressure should the Dogwifhat price break above the $4.4413 threshold could lead to the dog-themed token soaring to as high as $5.0845. On the other hand, this bullish thesis could be invalidated if WIF falls below $3.830 in the coming 12 hours. Traders might cash in their profits in this alternative case, potentially resulting in a plunge to the $4.4157 support.
Technical Indicators Warn Of A Potential Correction For The Dogwifhat Price
From a technical perspective, indicators on WIF’s 4-hour chart warn that the Dogwifhat price may have reached a temporary peak and subsequently undergo a brief correction. Along with the Moving Average Convergence Divergence (MACD) showing bearish signs, Exponential Moving Averages (EMAs) on the 4-hour chart suggest WIF’s momentum might be cooling off.
In the last couple of hours, the MACD line has started to collapse towards the MACD Signal line. Traders might see this narrowing gap as an early indication of WIF’s bullish short-term cycle approaching its end.
Meanwhile, the shorter 9 EMA is starting to drop towards the 20 EMA on the 4-hour chart. This could suggest that WIF’s short-term bullish momentum is in the early stages of a bearish shift. Trading activity in the last few hours has also been mainly from sellers.
If these technical warning signs influence traders’ decision making in the coming 12 hours, the Dogwifhat price might undergo a correction and possibly lose the support of the recently-breached $3.8303 mark.
While bearish warnings start to emerge on WIF’s 4-hour chart, meme coin rival Crypto All-Stars (STARS) continues to pull investors in with its ongoing ICO.
Giving Meme Coin Lovers A Chance At Unprecedented Staking Rewards
Crypto All-Stars (STARS) is an innovative meme coin staking project that does not revolve solely around its native token. Instead, it allows meme coin investors with holdings in several big name tokens to passively grow their bags for high staking rewards.
Popular cryptos such as DOGE, SHIB, PEPECOIN, FLOKI, BRETT, MOG, LADYS, TOSHI, COQ, BONK, and TURBO are already supported on the Crypto All-Stars platform, with more options scheduled to be added in the coming weeks.
Any tokens that are staked through the Crypto All-Stars platform will generate crypto rewards that are paid out in STARS. These earnings can then be put to work as well for up to 459% in annual rewards, opening up a rare opportunity at compounded meme coin staking rewards.
Its innovative staking mechanism, appeal to meme coin investors and the high staking rewards on offer have excited crypto experts and analysts.
Popular YouTuber Jacob Bury is among those who are bullish on the project. In a video to his over 42K subscribers, he says that STARS has the potential to soar 10X after its launch.
Charging Toward $4 Million In Presale Funding
Crypto All-Stars has raised over $3.5 million through its ongoing ICO so far, signaling strong investor confidence in the project’s future. The high APY on offer to anyone who purchases and stakes STARS at this early stage could be one of the main reasons an investor frenzy has erupted around the young meme coin, with whales also scooping up the token.
There’s still time left for investors to acquire the token before it hits the open market. Selling for $0.0015618, the crypto can be bought with either ETH, USDT, BNB, FLOKI, SHIB, PEPE, DOGE or bank card.
Buyers who want to lock in the best possible rate will want to act fast because the token’s price is set to increase as its presale progresses. The next price will come in about 1 day.
Purchase STARS before its price increases here.
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