{"id":593719,"date":"2024-11-01T07:46:57","date_gmt":"2024-11-01T07:46:57","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=593719"},"modified":"2024-11-01T07:46:57","modified_gmt":"2024-11-01T07:46:57","slug":"dogwifhat-price-prediction-wif-plummets-7-as-investors-pivot-to-this-innovative-meme-coin-rival-for-10x-potential","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/dogwifhat-price-prediction-wif-plummets-7-as-investors-pivot-to-this-innovative-meme-coin-rival-for-10x-potential","title":{"rendered":"Dogwifhat Price Prediction: WIF Plummets 7% As Investors Pivot To This Innovative Meme Coin Rival For 10X Potential"},"content":{"rendered":"
The Dogwifhat price <\/span>plummeted<\/span><\/a> more than 7% in the last 24 hours to trade at $2.36 as of 11:33 p.m. EST as investors offload their holdings in the <\/span>meme coin<\/span><\/a>.<\/span><\/p>\n With the recent drop in the WIF price, the altcoin’s weekly performance has also been pushed into the red zone by more than 6%. <\/span><\/p>\n <\/p>\n 4-hour chart for WIF\/USD (Source: <\/span>GeckoTerminal<\/span><\/a>)<\/span><\/p>\n The Dogwifhat price slid below the $2.4712 support in the last few hours, and could be at risk of testing the subsequent technical crutch at $2.2421 if the bearish pressure persists. WIF has tested the $2.2421 mark twice in the last week, with both attempts being followed by a rebound.<\/span><\/p>\n Should history repeat itself with this next retest, the Dogwifhat price might recover and try to reclaim the $2.4712 support. Thereafter, a 4-hour candle close above this key price point could then give the <\/span>meme coin<\/span><\/a> the foundation needed to keep rising in the short term. WIF might subsequently try to flip the $2.7180 resistance into support before rising to $2.9471.<\/span><\/p>\n Looking at technical indicators, there are signs on WIF’s 4-hour chart that warn the meme coin’s price drop is not over yet. More specifically, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are flashing bearish.<\/span><\/p>\n In the last 24 hours, the MACD line crossed below the MACD Signal line. This technical occurrence is oftentimes seen as an indication that a crypto has entered a negative trend. With the gap between these two lines still growing, it appears that WIF’s bearish momentum shows no signs of slowing down just yet.<\/span><\/p>\n RSI readings have also plummeted to the high 30s, which suggests that sellers have a strong grip on the Dogwifhat price currently. However, the indicator has started to level off in the oversold region. This could be identified as a buy opportunity since WIF’s upside potential is greater than its downside potential.<\/span><\/p>\n The low RSI readings leveling off in oversold territory is similar to what happened with the past 2 retests of the $2.2421 mark, which suggests there is a possibility that history will repeat itself and the Dogwifhat price will rebound from this crucial price level. However, bullish traders might want to wait for the gap between the MACD and MACD Signal line to start to shrink.<\/span><\/p>\nDogwifhat Price Might Retest A Key Support<\/span><\/h2>\n
Technicals Suggest The Dogwifhat Price Might Drop A Bit More<\/span><\/h2>\n