{"id":619893,"date":"2025-01-21T03:28:27","date_gmt":"2025-01-21T03:28:27","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=619893"},"modified":"2025-01-21T03:28:27","modified_gmt":"2025-01-21T03:28:27","slug":"dogwifhat-price-prediction-wif-plunges-5-as-this-layer-2-sol-meme-coin-rival-charges-towards-13-million-in-presale","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/dogwifhat-price-prediction-wif-plunges-5-as-this-layer-2-sol-meme-coin-rival-charges-towards-13-million-in-presale","title":{"rendered":"Dogwifhat Price Prediction: WIF Plunges 5% As This Layer-2 SOL Meme Coin Rival Charges Towards $13 Million In Presale"},"content":{"rendered":"

The Dogwifhat price plunged more than 5% in the last 24 hours to trade at $1.34 as of 9:54 p.m. EST as investors dump their holdings in the canine-themed meme coin on the market.<\/span><\/p>\n

Along with the drop in the WIF price, the crypto also experienced an over 33% decrease in 24-hour trading volumes to around $662.04 million.<\/span><\/p>\n

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

\"$WIF<\/p>\n

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

The Dogwifhat price is <\/span>resting<\/span><\/a> on the $1.2504 support level after trading in a negative sequence of lower lows and lower highs over the past couple of days. Should the <\/span>meme coin<\/span><\/a> drop below this technical safety net, it could stand the risk of falling to the subsequent support at $0.7697.<\/span><\/p>\n

On the other hand, a rebound from the $1.2504 support level in the next 48 hours might invalidate the bearish thesis. In this alternative case, the crypto could try to reclaim a position above the $1.6734 mark. Thereafter, continued pressure from buyers might push the Dogwifhat price up to as high as $2.1541.<\/span><\/p>\n

Technicals Warn The Dogwifhat Price Might Keep Dropping<\/span><\/h2>\n

Technical indicators on SOL’s daily chart warn the meme coin’s price might keep dropping in the next 48 hours, with Exponential Moving Averages (EMAs) and the Moving Average Convergence Divergence (MACD) showing bearish signs. <\/span><\/p>\n

The 9 EMA is currently positioned below the 20 EMA on the daily chart. This alignment of the shorter EMA underneath the longer EMA is often seen as an indication that a crypto is in a negative trend, with momentum favoring sellers. <\/span><\/p>\n

Meanwhile, a major bearish technical flag is on the verge of being triggered by the MACD. In the last 24 hours, the MACD line has dropped towards the MACD Signal line. Now, the prior is looking to cross below the latter. If this intersection happens, it could be a sign that the <\/span>Dogwifhat<\/span><\/a> price has entered a negative cycle.<\/span><\/p>\n

While WIF risks dropping some more in the next 48 hours, the presale for layer-2 Solana meme coin rival <\/span>Solaxy (SOLX)<\/span><\/a> is charging towards the $13 million mark. <\/span><\/p>\n

The project’s strong ICO performance is likely to carry on given the bullish predictions by crypto experts. Among them is 99Bitcoins, a popular crypto YouTube channel with over 721K subscribers, who says SOLX might 100X after launch.<\/span><\/p>\n