{"id":611236,"date":"2024-12-18T13:15:12","date_gmt":"2024-12-18T13:15:12","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=611236"},"modified":"2024-12-18T13:15:12","modified_gmt":"2024-12-18T13:15:12","slug":"dogwifhat-price-prediction-wif-plummets-8-as-this-new-solana-rival-goes-parabolic-in-presale","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/dogwifhat-price-prediction-wif-plummets-8-as-this-new-solana-rival-goes-parabolic-in-presale","title":{"rendered":"Dogwifhat Price Prediction: WIF Plummets 8% As This New Solana Rival Goes Parabolic In Presale"},"content":{"rendered":"

The Dogwifhat price plunged over 8% in the last 24 hours to trade at $2.56 as of 7:04 a.m. EST as investors dump their holdings in the meme coin on the market.<\/span><\/p>\n

With the latest drop, the WIF price is now down more than 47% from the all-time high of $4.85 that it set 9 months ago.<\/span><\/p>\n

Dogwifhat Price Resting On A Critical Support<\/span><\/h2>\n

\"$WIF<\/p>\n

4-hour chart for WIF\/USD (Source: GeckoTerminal)<\/span><\/p>\n

The <\/span>Dogwifhat<\/span><\/a> price is resting on the key support level at $2.5058 after getting rejected by the $2.8202 resistance level in the last 24 hours, according to <\/span>GeckoTerminal data<\/span><\/a>. If sellers manage to push the meme coin’s price below this technical safety net, it could stand the risk of plunging to the subsequent mark at $2.1914.<\/span><\/p>\n

However, the Dogwifhat price closing the next 2 4-hour candles above $2.5058 could lead to a more bullish scenario playing out for the canine-themed token. Traders might enter into a long position for the <\/span>crypto<\/span><\/a> if bulls are able to defend the support, which could be followed by another challenge at the $2.8202 barrier before a potential climb to as high as $3.1347 in the short term.<\/span><\/p>\n

Bulls might have a tough challenge ahead of them in the coming 24 hours, with Exponential Moving Averages (EMAs) and the Moving Average Convergence Divergence (MACD) on the 4-hour chart showing that momentum currently favors sellers.<\/span><\/p>\n

Dogwifhat Price Momentum Growing More Bearish <\/span><\/h2>\n

In recent hours, the 9 EMA has started to break away below the 20 EMA. The current orientation of the two technical indicators suggests WIF is in a short-term bearish cycle, with the growing gap signalling strengthening seller momentum.<\/span><\/p>\n

Meanwhile, a major technical flag was triggered by the MACD on the 4-hour chart after the MACD line crossed below the MACD Signal line throughout the past couple of hours. This specific technical event is usually seen as an indication that momentum has undergone a bearish shift.<\/span><\/p>\n

If these technical warnings influence traders’ decision making in the coming 24 hours, the Dogwifhat price might soon fall below the $2.5058 support level.<\/span><\/p>\n

With the Dogwifhat price seemingly at the mercy of sellers, investors and traders might shift focus to a new layer-2 Solana meme coin rival by the name of <\/span>Solaxy (SOLX)<\/span><\/a>.<\/span><\/p>\n

An analyst from the 99Bitcoins YouTube channel, which has over 718K subscribers, mentioned SOLX in a recent video entitled “BEST 3 Meme Coins to Buy Now Before 2025.”<\/span><\/p>\n