{"id":489251,"date":"2024-03-15T08:18:17","date_gmt":"2024-03-15T08:18:17","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=489251"},"modified":"2024-03-15T08:18:17","modified_gmt":"2024-03-15T08:18:17","slug":"dogwifhat-price-prediction-top-gainer-wif-pumps-20-but-investors-flock-to-this-solana-meme-coin-rival-as-its-huge-airdrop-looms","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/dogwifhat-price-prediction-top-gainer-wif-pumps-20-but-investors-flock-to-this-solana-meme-coin-rival-as-its-huge-airdrop-looms","title":{"rendered":"Dogwifhat Price Prediction: Top Gainer WIF Pumps 20%, But Investors Flock To This Solana Meme Coin Rival As Its Huge Airdrop Looms"},"content":{"rendered":"

The Dogwifhat price <\/span>pumped<\/span><\/a> over 20% in the last 24 hours to trade at $3.509 as of 12:50 a.m. EST, defying a slump in the meme coin sector.  <\/span><\/p>\n

The Dogwifhat Price Enters A Consolidation Period\"MEXC:WIFUSDT<\/span><\/h2>\n

4-hour chart for WIF\/USDT (Source: <\/span>TradingView<\/span><\/a>)<\/span><\/p>\n

The <\/span>Dogwifhat<\/span><\/a> price has entered into a consolidation phase between $3.080 and $3.6236 after it was rejected by the $3.6236 resistance in the last 24 hours. Despite this rejection, the meme coin continues to trade in a positive price channel that formed following the series of higher highs and higher lows the crypto printed over the past few days.<\/span><\/p>\n

The next 8 hours will be key in determining the future price direction of the Dogwifhat price. Should the meme coin keep trading sideways during this time, it will exit the aforementioned price channel. It may then retest the $3.080 support level as a result. A break below this mark could expose WIF to the risk of dropping to the subsequent support level at $2.42270 in the following 24-48 hours.<\/span><\/p>\n

On the other hand, the Dogwifhat price overcoming the $3.6236 resistance level in the next 8 hours could invalidate this bearish thesis. In this alternative scenario, the crypto may have the foundation needed to extend its ascending price channel through the course of the next couple of days.<\/span><\/p>\n

Technicals Point To A Dogwifhat Price Drop<\/span><\/h2>\n

Technical indicators on <\/span>WIF’s<\/span><\/a> 4-hour chart warn of a continued drop for the Dogwifhat price. Most notably, the Relative Strength Index (RSI) is on the verge of triggering a significant bearish technical flag, as it attempts to break below its Simple Moving Average (SMA) line. <\/span><\/p>\n

Traders generally identify the RSI falling below the SMA as a sign of a bearish shift in momentum. The RSI positioned above 65, as is the case with WIF on the 4-hour chart, is also often seen as a sell signal. This is due to the fact that a high RSI indicates the downside potential for a crypto is greater than its upside potential.<\/span><\/p>\n

The RSI is not the only indicator flagging bearish, as the Moving Average Convergence Divergence (MACD) suggests that WIF’s <\/span>bullish trend<\/span><\/a> is cooling down. This is evident by the MACD line collapsing towards the MACD Signal line.<\/span><\/p>\n

While the Dogwifhat price stands the risk of dropping further in the next 48 hours, investors continue to accumulate the Solana meme coin competitor Smog (<\/span>SMOG<\/span><\/a>) in anticipation of what is being called “the greatest airdrop of all time.”<\/span><\/p>\n

The Latest Solana Meme Coin Sensation<\/span><\/h2>\n

Smog is a dragon-themed crypto that is the latest meme coin to enter the burgeoning Solana meme coin ecosystem. <\/span><\/p>\n

It aims to repeat the success of predecessors including Bonk (BONK), Dogwifhat (WIF), Myro (MYRO), and Wen (WEN). To achieve this, the project’s team has placed an emphasis on growing the Smog community by promising the biggest airdrop events to ever hit the crypto market.<\/span><\/p>\n