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The Dogwifhat price is down more than 20% on the weekly time frame following a 6% plunge in the last 24 hours to trade at $1.47 as of 11:42 p.m. EST as traders keep unloading their holdings in the meme coin on the market.
The WIF price was able to establish an intraday high of $1.60 in the last 24 hours. It has, however, since pulled back to trade closer to its low for the same period, which stands at $1.44.
The Dogwifhat Price Approaching Key Support
4-hour chart for WIF/USD (Source: GeckoTerminal)
The Dogwifhat price is resting on the key support level at $1.3504. Should it drop below this major price point in the next 24 hours, the meme coin could be exposed to the risk of plunging to the subsequent mark at $1.0357.
WIF maintaining a position above $1.3504 for the next 24 hours might, however, invalidate the bearish thesis. In this alternative scenario, the crypto could have the technical foundation needed to rise to the immediate resistance level at $2.1295. Overcoming this threshold could then set the Dogwifhat price up to potentially rise to as high as $2.8487 in the short term.
Technical Indicators Warn The Dogwifhat Price Price Might Keep Falling
From a technical perspective, indicators on WIF’s 4-hour chart warn that the crypto might continue to drop through the course of the next 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) show that bears currently have the upper hand against bulls.
RSI readings have dropped over the last 24 hours. Currently, the indicator is close to oversold territory at 32. This suggests that WIF is under immense bearish pressure.
Meanwhile, the MACD line is positioned below the MACD Signal line. Traders generally see this as an indication that a crypto is in a negative cycle. With the gap between the two lines gradually starting to grow, it seems WIF’s bearish momentum is picking up steam as well.
While technicals warn the Dogwifhat price might continue to drop in the coming 24 hours, investors are flocking to PlayDoge (PLAY) for potential 10X gains.
A Modern Twist On A Once-Viral Game
PlayDoge (PLAY) is a new meme coin that is similarly styled to Dogecoin and aims to revive the 90s Tamagotchi game. These digital pets were once a massive hit globally, with millions of units sold worldwide. Now, PlayDoge is looking to reignite the hype around the gaming classic by introducing its own version of the game which includes modern elements in its gameplay.
PlayDoge’s version of the Tamagotchi game includes blockchain and crypto technology, which give players the opportunity to earn crypto rewards for simply ensuring their virtual companions get enough love, food and sleep. This will likely keep players engaged for an extended period of time, since there is a financial incentive for players to keep interacting with their digital pets.
With the project’s meme coin appeal, its gaming elements and players’ ability to earn crypto rewards, it’s easy to see why popular crypto YouTuber Jacob Bury predicts PlayDoge has the potential for a 10X gain.
Last Chance To Buy PLAY At ICO Prices
Time is running out for investors to purchase PLAY during its presale phase, which has seen more than $6 million raised so far. In an Aug. 13 X post, the project’s team revealed that the meme coin’s ICO has entered its final stage.
We’re in the final stage of the #presale. 🚨
Are you ready for the best #P2E game of the year? 🔥
Earn $PLAY tokens and choose wisely what you feed your PlayDoge! 🌶️
LAST CHANCE TO BUY! 👇 https://t.co/JT0VEofqf2 pic.twitter.com/L3vML5z3xi
— PlayDoge (@PlayDogeGame) August 13, 2024
Anyone looking to acquire PlayDoge at this early stage can do so through the simple buy widget embedded on the project’s website. Selling for $0.00529, the token can be bought using either ETH, USDT, BNB or bank card. Investors can also stake their newly-purchased PLAY tokens for passive rewards, given the 76% APY being offered during PLAY’s presale.
Purchase and stake PLAY here for up to 76% in annual rewards.
Related Articles:
PlayDoge (PLAY) – Newest Launch On BNB Chain
- 2D Virtual Doge Pet
- Play To Earn Meme Coin Fusion
- Staking & In-Game Token Rewards
- SolidProof Audited – playdoge.io
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