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The Dogwifhat price surged more than 12% in the last 24 hours to trade at $1.59 as of 11:37 p.m. EST.
This rise in the WIF price coincides with a 5% jump in the capitalization of dog-themed tokens during the trading session.
The Dogwifhat Price Clears A Major Resistance Level
4-hour chart for WIF/USDT (Source: GeckoTerminal)
The Dogwifhat price was able to break out above a short-term negative channel in the last 24 hours. Thereafter, the meme coin successfully overcame the major resistance level at $1.4568 as well. Traders are now attempting to elevate WIF to beyond the next threshold at $1.6812. Should the crypto close a 4-hour candle above this point, it could rise to as high as $1.8976.
On the other hand, the Dogwifhat price getting rejected by the $1.6812 barrier in the coming 24 hours could invalidate the bullish thesis. In this alternative scenario, the meme coin might be at risk of retesting the aforementioned $1.4568 point. A drop back below this mark could then result in WIF falling to the key support at $1.3232 in the following 24 hours.
Technicals Suggest The Dogwifhat Price Could Keep Climbing
From a technical perspective, indicators on WIF’s 4-hour chart suggest the meme coin’s price might keep climbing through the course of the next trading day. More specifically, the Moving Average Convergence Divergence (MACD) and short-term Exponential Moving Averages (EMAs) are showing bullish signs.
In the last 24 hours, the MACD line crossed above the MACD Signal line. This technical event is generally seen as a sign that a crypto has entered a positive trend and might therefore continue to rise. What’s more, the MACD line is increasing the gap between itself and the MACD Signal line to indicate that WIF’s bullish momentum is picking up steam.
Meanwhile, a major bullish technical flag is on the verge of being triggered by the 9 and 20 EMA lines. The shorter of the two is attempting to cross above the longer EMA line. Should this intersection happen in the coming 12 hours, it could signal a positive shift in WIF’s short-term momentum. The Dogwifhat price might subsequently continue to rise.
Even as WIF shows bullish strength, investors are rushing to buy a new canine-themed meme coin on the layer-2 Base blockchain by the name of Base Dawgz (DAWGZ) before it lists in less than 33 hours.
Uniting All Of The Top Networks Through Sophisticated Cross-Chain Technology
Base Dawgz (DAWGZ) is a new meme coin in the burgeoning Base ecosystem that is looking to repeat the success of Base meme coin titan Brett (BRETT).
To climb the crypto ranks, the project introduces unprecedented levels of utility to the meme coin space.
Powered by Wormhole and Portal Bridge technology, Base Dawgz gives investors and token holders the ability to seamlessly and simultaneously transact across some of the most liquid and active networks in the Web3 space. These networks include Avalanche, Binance Smart Chain, Solana, Ethereum, and Coinbase’s Base network.
We’re dedicated to enhancing the Base Dawgz experience for our amazing community. While it won’t happen overnight, we’re making thoughtful decisions to ensure the best outcomes for $DAWGZ.
Thank you for your patience and support as we continue to grow together! pic.twitter.com/VeX7hzdcph
— Base Dawgz (@BaseDawgz) August 2, 2024
Several DeFi yield-generating opportunities are set to emerge on these networks, given how popular the blockchains are. As such, DAWGZ holders are perfectly positioned to capitalize on these reward-generating opportunities as soon as they are available.
This essentially enables holders of the meme coin to maximize returns on their crypto portfolios.
DEX Launch Just Around The Corner
There is just a little more than a day until Base Dawgz launches.
More than $3.2 million has been sent to DAWGZ’s ICO, signaling strong investor confidence in the project’s future. Crypto YouTuber ClayBro told his 130k subscribers not to miss out on this project with 10x potential after launch.
Selling for $0.008582, the crypto can be bought using either BASE, ETH, BNB, AVAX, or SOL. Once purchased, the tokens can also be locked up via the staking page on the website for investors to gain access to a 711% Annual Percentage Yield. Interested investors should act fast as Base Dawgz’s DEX launch approaches.
Purchase and stake DAWGZ here before its DEX launch.
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