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The LandWolf price plunged 19% in the last 24 hours to trade at $0.0134 as of 4.20 a.m. EST on trading volume that dropped 26% to $11.8 million.
LandWolf (WOLF) is a Solana-based meme coin that has become a beloved icon in the crypto community, and is best known for its laid-back and wise demeanor.
The character behind the meme coin was created by Matt Furie, an American artist and illustrator who created the Boy’s Club — the same book/series that produced Pepe the Frog.
As LandWolf did not see any particular developments lately that would explain its major price drop, its plunge is likely the result of a new bearish wave that has forced the entire crypto industry to trade deeply in the red.
Right now, even Bitcoin is nearly 3% down to trade at $60,888. Meanwhile, in the meme coin sector, the top 10 largest memes are all seeing losses that vary from only 1% (Dogecoin and Shiba Inu) to as much as 13% (Mog Coin).
Pepe, another big name in this sector, is down 5% as of the time of writing, while Dogwifhat has plunged 8%.
With that in mind, LandWolf’s massive price drop of nearly 20% is likely because its pumped so hard recently, soaring from $0.012 on June 30 to $0.0194 on July 1. The token has been correcting since, and while a strong support at $0.016 briefly stopped its descent, it has continued in the last 24 hours as the bearish influence increased.
LandWolf Price Prediction
The LandWolf price has been dropping fairly consistently for several days now, ever since it hit its peak on July 1. However, there are signs that the token’s descent may be over soon, which could lead to a good investment opportunity for the risk-takers willing to take their chances by buying the dip.
Some technical indicators, such as Bollinger bands, still show strong bearish signs. Right now, the project’s bands have narrowed significantly compared to previous days, and the price is seemingly stuck to the lower band, suggesting that the market remains bearish.
On the other hand, the chart above shows that the project’s Relative Strength Index (RSI) value has dropped to the oversold zone, and that it might be ready to start a recovery. There are hints that traders have already started buying the dip, which could soon turn the tables on LandWolf’s price performance.
Of course, this is a high-risk move right now, and the fact that the RSI score has reached the oversold zone does not automatically mean that it will bounce back up immediately. If the overall market’s bearish sentiment persists, LandWolf is unlikely to start trading against it without a strong catalyst.
However, rapid and sharp plunges like the one seen right now are often short and followed by sharp surges, so even traders willing to take the risk should be careful but keep a close eye on the token and wait for the right time to buy.
A Promising Alternative to LandWolf
While the current bearish market makes investing in WOLF a risky move right now, there are other options for Solana-based investors. Those interested in the GameFi space and its massive potential could consider Mega Dice (DICE), a new cryptocurrency launched by an established crypto casino going by the same name.
Mega Dice has been around for years, and it became quite well-known among crypto users who prefer to place wagers in digital assets. While the platform supports a variety of coins and tokens, it only recently launched a native crypto, DICE, which is currently in presale.
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Current Price: 1 $DICE = $0.0825 🚀
Here’s why $DICE is set to become the leading GameFi token, outpacing all… pic.twitter.com/wI2jy30ntr
— Mega Dice Casino (@megadice) June 28, 2024
Mega Dice is a massive casino with thousands of games and dozens of eSports to bet on. It has more than 50,000 registered users and over 10,000 monthly active members, meaning that there is already a rather large, established community ready to use the DICE token once it launches.
In addition, token holders will have access to unique benefits, such as daily rewards that depend on the casino’s performance, limited-edition NFTs, early bird bonuses for those who join the presale early, and more.
With all that said, it is understandable why the 99Bitcoins YouTube channel, with over 700k subscribers, asks if Mega Dice might be the next crypto to explode 100x after launch.
DICE tokens currently sells for only $0.0866 apiece. If you want to join investors who have already socked more than $1.58 million into its presale, do so before a price hike in a little less than 5 days.
Visit the official website to buy DICE tokens here using SOL, ETH, or BNB.
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