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The Dogwifhat price plunged 9% in the last 24 hours to trade at $0.8586 as of 8:45 p.m. EST on a 19% surge in daily trading volume to $528 million.
This slump in the WIF price made the token the top loser among major cryptos, according to CoinMarketCap.
Dogwifhat Price In A Downward Spiral – Bounce From $0.77 Offers Hope
The 1-day WIF/USD chart shows Dogwifhat price closing hovering around $0.8531. The price has been on a rollercoaster the past few days, from bullish bias to an outright bearish breakout in less than 48 hours.
This is a massive 33% dump from a high of $1.18 just 2 days ago, which has flipped the WIF chart bearish with that neckline break around the $0.90 level. This was a key support zone while the price consolidated between $0.9 and $1.2.
Following the bearish breakout, the WIF price found support at the 50-day simple moving average (green) between $0.769, from where it bounced as highlighted in the chart. Dogwifhat price is now headed back up to test the $0.9 support-turned-resistance.
RSI And MACD Signal Crash Momentum May Not Be Done
Looking at the indicators, the Relative Strength Index (RSI) is sitting at 43.86, which is around the neutral zone but leaning toward oversold territory. This suggests the selling pressure is increasing but might be cooling off soon once it hits the oversold area (below 30).
WIFUSDT Analysis Source: Tradingview
The Moving Average Convergence Divergence (MACD) is straight-up bearish, with the MACD line below the signal line and the histogram bearish volume growing. This confirms the downward momentum.
However, if the gap between the two lines starts narrowing, the WIF price might see a shift in the trend.
The 50-day SMA is at $0.769, and the 200-day SMA is at $1.322, sandwiching the current price. As these two moving averages come closer together, the pressure builds for WIF to break out either up or down.
If WIF holds above the $0.769 support level, it could see a reversal as buyers jump in, thinking it’s a steal. But if it dips below, we will likely head toward the next support around $0.6, which aligns with the lower end of that yellow zone on the chart. Worst case, if that fails, $0.3042, the chart’s low could be in play.
Conversely, Dogwifhat price may bounce back above the neckline to $1.20 if it holds the $0.769 support and the RSI dips into oversold territory, giving bulls some fuel.
Solaxy Presale Closes On $43M – Only 15 Days Left
As the Dogwifhat price struggles to maintain altitude, investors are turning to another Solana token called Solaxy (SOLX), a new Layer-2 project that’s already raised over $42.9 million in a presale that’s set to end soon.
This L2 solution will fixe Solana’s frequent congestion by processing transactions off-chain, bundling them up, and settling them back on Solana’s mainnet. It works similarly to how Arbitrum and Optimism support Ethereum’s mainnet.
As a result, Solaxy cuts congestion, slashes fees, and keeps things running smoothly, even when trading goes off the chart.
Do you know the $SOLX whitepaper inside and out? 🛸🪐
Refresh your memory here 👇https://t.co/arr34146aR pic.twitter.com/UeOB408WUk
— SOLAXY (@SOLAXYTOKEN) May 31, 2025
Solaxy is not just about speed, it’s building a bridge to Ethereum, letting users tap into Ethereum’s massive liquidity while keeping Solana’s zippy performance. This could be a big deal for developers crafting apps in DeFi, gaming, or NFTs, blending the best of both worlds.
In addition, Solaxy’s team is moving fast. They have already launched a testnet, a blockchain explorer, and the Igniter Protocol, a no-code token launchpad that lets anyone create tokens that trade instantly on its upcoming DEX.
An analyst on the crypto YouTube channel 99Bitcoins, with 723K subscribers, predicts SOLX could skyrocket 100X after launch.
The SOLX token is the heart of this ecosystem, powering transactions, governance, and staking. Early investors are also jumping in for the staking rewards, currently offering a jaw-dropping 94% annual percentage yield (APY).
Right now, SOLX tokens are priced at $0.001742 each in presale and can be bought with crypto or a credit card. Those interested to join shouldn’t wait too long because the presale ends in a little over 15 days.
Check out Solaxy’s website to learn more.
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