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The dogwifhat price surged 13% in the last 24 hours to trade at $2.30 as of 3.50 a.m. EST on trading volume that went up 20% to $409.2 million.
The meme coin’s price surged on June 30 after spending nearly a full week fluctuating between $2 and $2.15. However, while the token saw a 13% price boost in the last 24 hours, its weekly gains are even more impressive. In the past seven days, the WIF price has increased by 47%, and it is currently struggling against a resistance at $2.3.
The increase comes as part of the new bullish wave that has increased most of the crypto market. Another reason for its strong increase is a recent announcement by Matthew Sigel, the head of digital assets research at VanEck, who reported on June 27 that VanEck filed for the industry’s very first Solana ETF in the US.
. @vaneck_us SOL ETFwifhat$WIF https://t.co/EKr4RZX4rI pic.twitter.com/dYJv0lss5T
— dogwifcoin (@dogwifcoin) June 27, 2024
A SOL-based ETF has been long-anticipated in the crypto industry, and with this finally happening, Solana-based cryptocurrencies — especially the meme coins — have seen a strong surge.
Given the token’s positive performance and the fact that it is one of the industry’s favorite Solana’s meme coins, the self-proclaimed trader and bubblechaser, Bluntz, said in a recent post on X that he believes WIF could head all the way up to $10 per token.
don't be afraid to dream a little bigger.$WIF https://t.co/zWSk5xicri pic.twitter.com/7XxUJrWAzu
— Bluntz (@Bluntz_Capital) July 1, 2024
dogwifhat Price Prediction
The WIF price has seen a strong surge that brought it to $2.3, and crypto experts believe that this is only the beginning and that the project’s potential is much larger. However, the current technical indicators suggest that WIF may have reached its ceiling for the time being.
While the token definitely has the potential to go much higher under the right market conditions, technical indicators suggest that the trader activity is dropping and that the bulls have exhausted themselves. This seems clear from the suddenly narrowing Bollinger bands, which were significantly wider in the past few days than they are now.
Even so, the average price is still halfway between the bands, so neither bullish nor bearish pressure is currently dominating.
The project’s Relative Strength Index (RSI) value shows that traders have started selling once the token reached the overbought zone at around 70. Right now, the bears are starting to take the lead, and more people are selling, which led the RSI value to drop to 55.38.
A few scenarios are possible from this point — if the market stays bullish, the price might see a slight correction, while the RSI will stop its descent at the currently neutral zone, and then likely bounce back up. Alternatively, it could continue to drop if the bearish influence persists, which would also result in a stronger price drop.
Promising Alternatives to dogwifhat
While digwifhat is one of the top-performing meme coins on Solana right now, there is another alternative for Solana users that is currently worth considering. The project in question is Sealana (SEAL), and right now is your last chance to buy its token before they enter the market.
Sealana started its presale a few months ago, and it officially ended it last week, on June 25. However, the project did not sell out despite raising over $6 million by the time the presale ended, which is why it allowed investors to continue buying SEAL while they wait for the airdrop, which is scheduled to take place tomorrow, July 2, at 1 PM UTC. Anyone who buys SEAL by 1 PM UTC today, July 1, will still receive their SEAL tokens in tomorrow’s airdrop.
The #Presale has ended! 🚨 The #Airdrop will commence on Tuesday, July 2nd at 1 PM UTC! 🕙🦭
Don't worry you can still buy $SEAL before the airdrop begins! 🚀💸 #Sealana is more excited than a fat guy at McDonalds to whale $SEAL into your wallets! 💰 More info comin’ soon! 🔥 pic.twitter.com/9Mafi9u060
— Sealana (@Sealana_Token) June 25, 2024
However, those who buy them after 1 PM UTC today will have to wait for the second airdrop to receive their cryptos. However, keep in mind that the tokens will start trading on Raydium and Uniswap DEXes tomorrow, at the same time when Sealana airdrops its tokens, so buying too late to receive your cryptos in the first round of airdrops might put you at a disadvantage.
This is why you should buy SEAL as soon as possible and make sure that you can still make it for the first round. SEAL is a highly-anticipated Solana-based crypto, and given that the current meme coin market is strongly in the green, interest coupled with a bullish wave will result in a strong price surge tomorrow once the token goes live.
Crypto YouTubers, such as the expert behind the YouTube channel Cryptonews, believe that Sealana has great potential to be the next 10x crypto or maybe even go beyond this.
With that being the case, it is definitely worth considering joining early while there is still time.
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