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Dogwifhat Tumbles 12% On Multiple FactorsDogwifhat ( CRYPTOCAP:WIF ), a dog-themed meme coin, has experienced a significant drop in price due to various factors. The price tumbled over 12% in the last 24 hours, with the current trading price at $2.58. The decline in the crypto market is attributed to meme coins such as CRYPTOCAP:WIF , BOME, PEPE, and FLOKI. Whales and traders are selling Dogwifhat ( CRYPTOCAP:WIF ) to book profits early as GameStop and AMC Theatres prices tumbled after a recent FOMO for upside. GameStop price fell after a spectacular rally last week, dropping more than 20% today after hitting a 52-week high of $64.83. A whale sold 732,481 CRYPTOCAP:WIF worth $1.85 million, purchasing the CRYPTOCAP:WIF holdings for $2.18 million but selling them at a loss. Other whales have also reflected the same sentiment to offload their holdings in $WIF. Crypto analysts have pointed out $2.5 as the crucial support level to watch, with the next drop around $1.6 if CRYPTOCAP:WIF loses this level. The meme coin hype was triggered by GameStop's rally, and as the NYSE:GME price fell, so did the meme coins including BOME, PEPE, and FLOKI prices. Derivatives traders have not started selling CRYPTOCAP:WIF , and the CRYPTOCAP:WIF exchange futures open interest rose nearly 5% in the past 24 hours. High confidence in derivatives traders could drive market action next week, with traders likely to crash CRYPTOCAP:WIF next week if the crucial support is broken. Technical Outlook Dogwifhat ( CRYPTOCAP:WIF ) token is down 8.8% as of the time of writing trading within the oversold region with the Relative Strength Index (RSI) sitting at 31.16. Technical indicators like the Moving Averages (MA), and Moving Average convergence Divergence (MACD) posit a bearish trend looming ahead for $WIF.
by DEXWireNews
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Arthur Hayes Predicts Dogwifhat (WIF) To Hit $10The price of CRYPTOCAP:WIF , the meme coin associated with the Dogwifhat community, has skyrocketed by an astounding 80%. This surge comes on the heels of the completion of community funding efforts aimed at a grandiose plan involving the iconic Las Vegas Sphere. BitMEX co-founder Arthur Hayes has added fuel to the fire by predicting a further surge in WIF's price, foreseeing it reaching $10. Such bold forecasts have ignited discussions and speculation within the crypto community, further propelling interest in WIF. The surge in CRYPTOCAP:WIF 's price, which has exceeded $3 for the first time, is particularly noteworthy amidst a broader trend of meme coins struggling to maintain their momentum. However, CRYPTOCAP:WIF has managed to defy the odds, securing its position as the fourth-largest meme coin by market capitalization. The ambitious plans of the Dogwifhat community to leave their mark on the Las Vegas skyline have captured the attention of investors and enthusiasts alike. With the completion of community funding, efforts are underway to secure ad space on the exterior dome of the Las Vegas Sphere—a digital marvel renowned for its immersive entertainment experiences. The fundraising, which initially aimed to raise $650,000, saw donations exclusively accepted in USD Coin (USDC). Recent reports indicate that the target has been met, paving the way for the Shiba Inu mascot, emblematic of the Dogwifhat community, to be prominently displayed on the Las Vegas Sphere. This ambitious endeavor not only showcases the passion and dedication of the Dogwifhat community but also underscores the growing influence and potential of meme coins within the broader crypto landscape. As meme coins continue to capture the imagination of investors, WIF stands out as a symbol of innovation and community-driven initiatives. Moreover, the surge in CRYPTOCAP:WIF 's price reflects a renewed confidence in meme coins, particularly those within the Solana network. With Solana experiencing a significant uptick in price and investor interest, meme coins built on its platform, like WIF, are positioned to capitalize on the positive sentiment surrounding the ecosystem.
Long
by DEXWireNews
WIFUSD The frenzy is approaching a technical Resistance.Dogwifhat (WIFUSD) has been the revelation of the last 3 weeks as during that time it grew by more than +1000%. This rally is mostly euphoria driven and the frenzy may very well push even higher. But we can't neglect the technical Resistance levels along the way. The strongest of them is the top (Higher Highs trend-line) of the Channel Up pattern since it first started trading. The 1D MACD formed a Bearish into Bullish Cross pattern and last time we saw this was on January 25 2024, when the price started pulling back. In that sense, a short-term correction back to the 1D MA50 (blue trend-line) and Support 1 (1.01500) is a realistic scenario if the market is to find new buyers. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:WIFUSDShort
by TradingShot
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