Dogwifhat Price Prediction: WIF Plunges 10% In A Week As Investors Flock To The $43.7M Solaxy Presale With Just Days Left

The Dogwifhat price is down 10% on the weekly time frame after rising half a percent in the past 24 hours to trade at $0.9778 as of 9:41 p.m. EST as investors decrease their exposure to the meme coin.

The drop in the WIF price over the past 7 days could be the result of some traders booking their profits from the altcoin’s rally over the past month. Even with the decrease in the last 7 days, the meme coin is more than 76% in the green on the 30-day time frame.

Dogwifhat Price Challenges Resistance, Will It Overcome The Barrier?

Daily chart for WIF/USD (Source: GeckoTerminal)

The Dogwifhat price is attempting to flip a resistance level at $0.9871 into support, data from GeckoTerminal shows. Should the meme coin break above this barrier, it could continue to climb in the short term. Traders might subsequently try to push WIF to the next major point at $1.1871. In the event of extreme bullish pressure, the crypto could soar to $1.4870.

However, a rejection from the $0.9871 mark within the next 48 hours could stop any bullish short-term move from taking place. Failure to breach this price barrier might prompt traders to short the Dogwifhat price, which could result in a test of the nearest support at $0.7871.

Early Bullish Technical Signs Suggest The Dogwifhat Price Will Rise In The Short Term

There are some early technical signs that suggest the Dogwifhat price will rise in the next 48 hours. Traders will want to keep an eye on the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI), which both hint at an upcoming rally.

That’s as the MACD line starts to rise towards the MACD Signal line. Over the past few days, the gap between the two momentum indicators has gradually narrowed. This suggests WIF’s bearish trend might have reached a pivot point and is nearing its end. If the margin between the two lines continues to shrink, it might result in a bullish crossover soon.

Meanwhile, buyers recently gained a slight upper hand against sellers from a strength perspective, as suggested by the RSI that rose above 50 in the last couple of days. WIth the upward slope of the RSI line, it also appears bulls are tightening their grip on the Dogwifhat price.

If the early bullish signs presented by the MACD and RSI on the daily chart influence traders’ decision making, WIF might be able to break above $0.9871 and continue climbing towards $.1871 in the next few days.

As the Dogwifhat price tries to clear a resistance level, investors rush to the presale for a new Solana token called Solaxy (SOLX) before it ends in around 12 days. According to the influential YouTube channel 99Bitcoins, which has over 723K subscribers, SOLX has the potential to soar 100X after its launch. 

Solaxy To Scale Solana To New Heights

Solana is a much faster and cheaper alternative to the clunky Ethereum layer-1 chain. However, its transaction times and fees start to climb during periods of peak traffic, such as when there is a meme coin frenzy or when decentralized application activity soars. This has resulted in some users reporting delayed, and sometimes even failed, transactions.

Solaxy aims to help Solana comfortably manage peak traffic periods by introducing the first SOL-focused layer-2 scaling solution. It will operate similar to Ethereum’s layer-2s, and bundle and process transactions off of the mainnet before submitting them for final validation. 

That will ease the computational workload on the Solana layer-1, keeping congestion levels on the network low while also improving Solana’s overall efficiency.

Not only will Solaxy scale Solana, it will also bridge the network with the Ethereum blockchain. By combining the strengths of these two prominent distributed ledgers, Solaxy will give developers a platform that is highly scalable, liquid and secure. 

Solaxy’s team has been hard at work laying the foundation for their lightning-fast layer-2 chain. They have already deployed their testnet and its blockchain explorer, launched the Solaxy bridge on the testnet, and have launched their Igniter Protocol, which is a token launchpad that will list the tokens on the upcoming Solaxy DEX directly.

Time Running Out For Investors To Buy SOLX In Presale

Solaxy’s presale has raised over $43.7 million so far, signaling strong investor confidence in the project’s future. Now, with less than 2 weeks left until the project’s launch, time is running out for investors to get in at this early stage.

Interested investors can acquire SOLX for $0.001744 apiece via the widget on the project’s website using either crypto or bank card. 

Anyone looking to buy will want to do so before the presale ends in around 12 days.

Check out SOLX.

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