![\"Dogwifhat](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2025\/01\/WIFUSD_2025-01-16_14-36-02.png\")
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WIFUSD Analysis Source: Tradingview<\/p>\n
The 200-day Simple Moving Average (SMA) at $2.38 has been acting as a significant barrier for any positive price movements. Additionally, the 50-day SMA at $2.23 provides further resistance, creating a strong zone that the bulls must break for confirmation of a bullish trend.<\/p>\n
DogWifhat Bulls Could Drive The Price To $3<\/h2>\n
The WIF price breaking above resistance, particularly the 50-day and 200-day SMAs, could signal a shift toward a bullish trend, with potential upside reaching as high as $3.00.<\/p>\n
The RSI (14) at 42.65 currently reflects weakening bearish momentum, which suggests that the downside pressure may be easing. The RSI is not in oversold territory yet, but its upward movement from recent lows could indicate that a recovery is already starting to take hold. This could support the idea of a bullish reversal, especially if the price manages to stay above the $1.70 support.<\/p>\n
However, the price action remains fragile. If WIF\/USD fails to hold the $1.70 support, it may face further downside pressure, with the next potential support level at $1.50. A failure to hold above this price point would be concerning for bullish traders, as it would indicate that bears are still in control.<\/p>\n
New Solana Layer-2 Rival Hurtles Toward $11 Million In Presale<\/h2>\n
As the Dogwifhat price gears up for another bullish rally, investors are rushing to buy Solaxy (SOLX)<\/a>, a new Solana-based meme coin and the first layer-2 solution on the Solana network that has raised over $10.6 million in presale funding.<\/p>\n Solaxy aims to address one of Solana’s most pressing issues: network congestion. By introducing an innovative layer-2 solution, Solaxy will enhance the performance of the Solana network without altering its core infrastructure. This layer-2 integration will help offload transactions from the main chain, improving scalability and reducing congestion, thus ensuring smoother and faster operations.<\/p>\n Solaxy will support both $ETH<\/a> and $SOL<\/a> with its robust scalability, describing themselves as the \"world's first solana L2\" this one looks quite bullish!<\/p>\n With $SOLX<\/a> you're getting into a new Layer-2 which has an exciting #memecoin<\/a> flare to it 🚀<\/p>\n DYOR – https:\/\/t.co\/UuZScpnmos<\/a> pic.twitter.com\/hzXiY5CDv8<\/a><\/p>\n — Jacob Crypto Bury (@BuryCrypto) January 2, 2025<\/a><\/p><\/blockquote>\n\n