{"id":622682,"date":"2025-01-30T09:07:04","date_gmt":"2025-01-30T09:07:04","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=622682"},"modified":"2025-01-30T09:07:04","modified_gmt":"2025-01-30T09:07:04","slug":"dogwifhat-price-prediction-wif-plunges-12-in-a-week-as-investors-pivot-to-this-new-layer-2-sol-token-for-high-staking-rewards","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/dogwifhat-price-prediction-wif-plunges-12-in-a-week-as-investors-pivot-to-this-new-layer-2-sol-token-for-high-staking-rewards","title":{"rendered":"Dogwifhat Price Prediction: WIF Plunges 5% As Investors Pivot To This New Layer-2 Solana Token With 245% Staking APY"},"content":{"rendered":"

The Dogwifhat price plunged 12% in a week and 5% in the last 24 hours to trade at $1.22 as of 11:28 p.m. EST on trading volume that soared 8% to $1.1 billion.<\/span><\/p>\n

Dogwifhat Price On A Sustained Downtrend<\/h2>\n

The <\/span>WIF price<\/span><\/a> chart on the 4-hour timeframe indicates a prolonged downtrend, forming a falling wedge. <\/span>The Dogwifhat price has been consistently making lower highs and lower lows, signaling a bearish sentiment. <\/span><\/p>\n

However, a recent bounce from the lower support of this channel suggests that buyers are stepping in at key levels. <\/span>Meanwhile, the 50-day Simple Moving Average (SMA) at $1.2870 is positioned below the 200-day SMA at $1.6526, confirming a bearish alignment, as per <\/span>GeckoTerminal<\/span><\/a> data. <\/span><\/p>\n

This “death cross” pattern suggests that WIF remains in a long-term downtrend unless a significant bullish reversal occurs.<\/span><\/p>\n

The Relative Strength Index (RSI) stands at 49.67, which is near the neutral 50 mark. This indicates a balance between buyers and sellers, with no strong momentum in either direction.<\/span><\/p>\n

Moreover, the Moving Average Convergence Divergence (MACD) line is at 0.0151, with the signal line at -0.0143, and the histogram shows slight bullish momentum. <\/span><\/p>\n

A crossover above the signal line could indicate a potential reversal.<\/span><\/p>\n

\"Dogwifhat
Dogwifhat Price Chart Analysis. Source: GeckoTerminal.com<\/figcaption><\/figure>\n

Can WIF Recover?<\/h2>\n

The WIF price is currently testing the resistance of the falling wedge pattern. <\/span><\/p>\n

A confirmed breakout above the $1.30 – $1.32 range, along with increasing volume, could push the price of Dogwifhat toward the 50-day SMA at $1.2870 and potentially the 200-day SMA at $1.6526 in the medium term.<\/span><\/p>\n

However, failure to break resistance may result in another downward move towards $1.10 or lower.<\/span><\/p>\n

Meanwhile, investors are piling into a new layer 2 Solana meme coin called <\/span>Solaxy (SOLX)<\/span><\/a>. Popular YouTube channel 99Bitcoins, with over 723K subscribers, says SOLX has the potential to soar 100X post-launch.<\/span><\/p>\n