{"id":562780,"date":"2024-08-09T08:14:32","date_gmt":"2024-08-09T08:14:32","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=562780"},"modified":"2024-08-09T08:14:32","modified_gmt":"2024-08-09T08:14:32","slug":"dogwifhat-price-prediction-wif-pumps-8-as-this-shib-derivative-races-towards-1-million","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/dogwifhat-price-prediction-wif-pumps-8-as-this-shib-derivative-races-towards-1-million","title":{"rendered":"Dogwifhat Price Prediction: WIF Pumps 8% As This SHIB Derivative Races Towards $1 Million"},"content":{"rendered":"

The Dogwifhat price surged 8% in the last 24 hours <\/span>to trade at $1.8191<\/span><\/a> as of 02:29 a.m. EST on trading volume that dropped 24% to $1 billion.<\/span><\/p>\n

This comes as the meme coin space <\/span>gained 11%<\/span><\/a> in the last 24 hours to a $42 billion market capitalization.<\/span><\/p>\n

Dogwifhat Price To Sustain The Bullish Trend Reversal<\/h2>\n

The Dogwifhat price went on a downtrend from July 27 to August 5, dropping within a falling channel pattern from the $2.7 resistance to the 1.13 support level, according to data from GeckoTerminal<\/a>.<\/span><\/p>\n

However, the bulls used the support level as a cushion, as they pushed the price of Dogwifhat above the channel through a markup phase.<\/span><\/p>\n

The Dogwifhat price now trades above the 50-day Simple Moving Average (SMA) but struggles to overcome the $2.0 resistance zone (200-day SMA).<\/span><\/p>\n

Moreover, the Relative Strength Index (RSI) shows that the asset is currently under some buying pressure, with the RSI rising from the oversold level to currently trade at 59, as it closes in on the overbought region.<\/span><\/p>\n

The Moving Average Convergence Divergence (MACD) is also rising above the neutral line, a signal of a continued uptrend. The blue MACD line also crosses above the orange signal line, forming a bullish crossover, which further increases the bullish prospects of the token.<\/span><\/p>\n

According to the Dogwifhat analysis, investors are currently buying as they push the WIF price above the falling channel. If this trend continues, the price of Dogwifhat could continue surging to overcome the $2.0 resistance, as the bulls target $2.5.<\/span><\/p>\n

\"Dogwifhat
Dogwifhat Price Chart Analysis Source: GeckoTerminal.com<\/figcaption><\/figure>\n

However, in an inverse scenario, if the bears take control of the price at this level, WIF could correct, with $1.35 acting as the immediate support level.<\/span><\/p>\n

Meanwhile, as the WIF price surges, investors are also pumping funds into a Shiba Inu alternative called <\/span>Shiba Shootout (SHIBASHOOT)<\/span><\/a>, which has amassed over $894K in its presale.<\/span><\/p>\n

Shiba Shootout Presale Blasts Past $894K, Best Alternative To Buy Now?<\/h2>\n

Shiba Shootout draws its inspiration from the legendary meme coin titan Shiba Inu and takes its token holders on a journey into the crypto Wild West.<\/span><\/p>\n

\n

Saddle up! #ShibaShootout<\/a> is more than a #memecoin<\/a> it's a Wild West crypto adventure! 🐾💥<\/p>\n

Join Marshal Shiba & the Sharpshooters in Shiba Gulch for fun and excitement. 🤠🚀 pic.twitter.com\/a3BFVx7u42<\/a><\/p>\n

— shibashootout (@shibashootout) July 1, 2024<\/a><\/p><\/blockquote>\n