{"id":617040,"date":"2025-01-10T12:19:50","date_gmt":"2025-01-10T12:19:50","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=617040"},"modified":"2025-01-10T12:19:50","modified_gmt":"2025-01-10T12:19:50","slug":"dogwifhat-price-prediction-wif-plunges-18-in-a-week-as-this-new-solana-rivals-presale-closes-on-10-million","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/dogwifhat-price-prediction-wif-plunges-18-in-a-week-as-this-new-solana-rivals-presale-closes-on-10-million","title":{"rendered":"Dogwifhat Price Prediction: WIF Plunges 18% In A Week As This New Solana Rival’s Presale Closes On $10 Million"},"content":{"rendered":"

The Dogwifhat price plunged 18% in the last week despite being up 1.6% in the last 24 hours to trade at $1.62 as of 02:51 a.m. EST on trading volume that soared 13% to $621 million.<\/span><\/p>\n

Dogwifhat Price On A Bearish Trend<\/h2>\n

The <\/span>WIF price<\/span><\/a> analysis on the 4-hour timeframe shows that the asset has been in a downtrend since mid-December, as highlighted by the large blue arrow. <\/span><\/p>\n

The Dogwifhat price failed to hold key support levels and dropped sharply below the 50-day Simple Moving Average (SMA) and 200-day SMA, signaling a continuation of bearish momentum.<\/span><\/p>\n

Recently, the price of WIF broke below a horizontal support zone around $1.75-$1.85, which has now turned into resistance, according to <\/span>GeckoTerminal<\/span><\/a> data.<\/span><\/p>\n

A slight rebound from the $1.50 support area is visible, indicating a temporary halt in the decline. However, the broader trend remains bearish unless the Dogwifhat price reclaims higher levels.<\/span><\/p>\n

The Relative Strength Index (RSI) is at 33.94, indicating that the asset is near the 30-oversold zone. While not technically oversold, it is approaching levels where a bounce could occur. <\/span><\/p>\n

A divergence in RSI (price making lower lows but RSI stabilizing) might suggest weakening bearish momentum, but this isn’t confirmed yet.<\/span><\/p>\n

\"Dogwifhat
WIF\/USD Chart Analysis Source: GeckoTerminal<\/figcaption><\/figure>\n

WIF Gearing Up For A Bullish Trend Reversal<\/h2>\n

Given the current structure, the price of WIF will likely remain under selling pressure unless it breaks and holds above the $1.75-$1.80 resistance zone (previous support turned resistance). <\/span><\/p>\n

If WIF moves higher, the 50-day SMA at $1.9582 would be the next major hurdle for bulls. A rejection at $1.75 or lower could push the price back to retest the $1.50 level, and a break below this support could open the door to further declines, potentially toward $1.30 or lower.<\/span><\/p>\n

If the price of Dogwifhat successfully reclaims $1.75 and breaks above the 50-day SMA at $1.95, it could target the 200-day SMA near $2.28.<\/span><\/p>\n

Meanwhile, investors are buying into a new Layer 2 Solana meme coin called <\/span>Solaxy (SOLX)<\/span><\/a>. According to 99Bitcoins, a popular crypto YouTube channel with over 719K subscribers, Solaxy has the potential to soar 100X post-launch.<\/span><\/p>\n