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The Dogwifhat price soared 41% in the past week and 4% in the last 24 hours to trade at $2.38 as of 4.50 a.m. EST on trading volume that skyrocketed 59% to $605.2 million.
Most cryptos have experienced a sharp price drop in the early hours this Monday, with the correction being led by Bitcoin, and its dominance compelled the rest of the crypto market to follow.
However, its influence on WIF has been weaker than on some other cryptos. The meme coin did lose its momentum, failing to breach a resistance at $2.50, but its price proved sticky, fluctuating between the resistance and a support at $2.40.
Even now that it dropped below this mark, the support might not necessarily be fully broken, and Dogwifhat might still bounce back up
Dogwifhat Price Prediction
According to technical indicators, WIF could see a price recovery that could take it back to the resistance at $2.50 in the next few hours. The indicators suggest volatility and uncertainty among traders, but there is room for growth if the bulls take over the market once again following the market-wide correction.
For example, WIF’s Bollinger bands have managed to remain fairly wide so far, but they are showing signs of possible narrowing. Right now, the Dogwifhat price finds itself halfway between the two bands, in the neutral position, although this might not remain the case for long.
Still, with the price previously pushing the lower band down, and now being between the two bands, it would not be impossible for it to return to the upper band in hours to come.
Meanwhile, the project’s Relative Strength Index (RSI) value has grown in the last few hours, going from the oversold area to the neutral zone, currently sitting at 49.19. Previously, it dropped below the value of 30, officially entering the oversold zone, where it dropped to 27.16. Its increase signals that traders have moved in to buy the dip.
However, with the RSI seemingly losing momentum in the neutral zone, this suggests that traders have stopped buying, and there is no more overwhelming purchasing power pushing the metric.
This, in turn, shows that the traders feel uncertain about what turn the market might take, and they are cautious with their moves, likely waiting on the indicators to show them what will happen next. During these times of uncertainty in the altcoin market, Bitcoin’s influence strengthens, and the original crypto tends to take control and dictate the market movement and the overall sentiment, and right now, that sentiment seems to be bearish.
BTC is trading in the red on both 24-hour and 1-hour charts, and its value has already dropped below $64k, meaning that another round of price drops might be coming for altcoins like WIF.
Promising Alternative To Dogwifhat
Another crypto that’s attracting a lot of investor cash is a new casino token called Memebet Casino (MEMEBET). The project represents the first web and Telegram casino to allow meme coin holders to use their cryptocurrencies for betting.
On top of that, Memebet Casino also offers numerous rewards, and exclusive benefits for the MEMEBET Token holders, and it even announced multiple airdrops.
The number of token holders has already exceeded 1,000 investors, which is impressive for a casino token that has only been in presale for a matter of weeks.
Its ICO has attracted the attention of YouTube channel 99Bitcoins, which has over 706k subscribers. It says the token has the potential to 30x after launch.
The MEMEBET Token presale has raised over $341k and it sells for $0.0255. It can be bought with ETH, USDT, MATIC, BNB, or credit/debit cards..
Its price will increase in less than three days, so any interested investors should not wait too long before making their move.
Visit MEMEBET Token on the official website here.
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