Dogwifhat Price Falls 10% as Meme Coin Market Faces Pressure
The price of Dogwifhat (WIF) fell by 10% in the last 24 hours, trading at $2.93 as of 11:44 p.m. EST, with a 16% drop in trading volume to $575 million. This downward trend aligns with the overall meme coin market slump, as other prominent tokens like DOGE, SHIB, and PEPE also saw declines of 4%, 3%, and 3%, respectively. The market capitalization for the entire meme coin sector decreased by 3% to $51.3 billion.
Dogwifhat Price Analysis and Trend
Despite its recent decline, Dogwifhat experienced a remarkable 1,777% surge in March, reaching an all-time high of $4.83. Since then, the price has dropped 39% from its peak. However, the current price movements between $2.5 and $3.8 suggest an ascending triangle pattern, indicating that a potential breakout could occur if the bulls push the price beyond the upper boundary of the triangle.
The 50-day Simple Moving Average (SMA) on the 1-day chart serves as a support level, currently at $3.11. The Relative Strength Index (RSI) is at 49, indicating equilibrium with a possibility of a bullish breakout. If the price breaks above the ascending triangle’s upper boundary, it could signal a significant bullish move.
Dogwifhat Price Prediction
Based on the 1-day chart, there’s a high probability that Dogwifhat will break above the ascending triangle, aiming for a new all-time high (ATH) of $6. However, there’s also a risk of a price retracement if bearish pressure increases. In that scenario, the price could find support around $2.2. Investors are advised to monitor the price action closely to make informed decisions.
Sealana: A New Contender in the Meme Coin Space
While Dogwifhat garners attention, another meme coin, Sealana (SEAL), has entered the scene. Inspired by a seal meme, Sealana aims to follow in the footsteps of other Solana-based meme coins like Bonk, Slerf, and Dogwifhat. The project’s mascot, a chubby seal, adds a unique charm to its appeal. Crypto analyst TodayTrader predicts that Sealana could surge 10x after launch.
Sealana has a ‘Send SOL’ presale model without timers, stages, hard caps, or even a white paper. This approach offers flexibility for early investors, but also suggests that the presale could end at any time, presenting an opportunity for quick gains. To participate, investors can visit the official website to purchase SEAL tokens. Each SOL can buy 6,900 SEAL, which will be airdropped to investors at the end of the presale.
