Dogwifhat Price Prediction: WIF plunges 18% as analysts wonder if traders are migrating to this meme coin star that has surged 1,000% in a year.

adminJanuary 16, 2024

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Dogwifhat price has traded down 18% in the last 24 hours. $0.285 As of 12:08 AM EST.

This revision follows the bull market, which saw the token value double from a week ago.

Dogwifhat Price Prediction: Will Meme Coin Recover?

An in-depth analysis of the 4-hour WIF/USDT chart shows that bears are still in control of the meme coin market, as pointed out by several indicators. Since the Dogwifhat price is likely to continue to plunge in the near term, the MACD indicator has moved into the red zone, showing a bearish edge.

The Awesome Oscillator (AO), which is used to measure market trends, is also back to the midline with a red histogram suggesting a strong bearish trend for the meme coin. This is supported by the Average Directional Index (ADX), which is currently in a southerly orbit to support the bearish outlook for the meme coin.

Looking at volatility levels, Dogwifhat price is currently highly volatile, as evidenced by the Bollinger Bands being far apart. However, these levels are likely to decline in the short term due to reduced trading activity, which has seen the token’s trading volume drop by 22% in the last 24 hours.

4-hour WIF chart | Source: TradingView

Meanwhile, with Dogwifhat price showing signs of weakness, Sponge V2 is emerging as another meme coin alternative for investors. A project with explosive potential 2024. Could it be that WIF investors are already moving on to this rising star?

Dogwifhat Price Prediction: Is Sponge V2 the Token to Buy Now?

Recent ticket sales sensation, Sponge V2 (SPONGEV2) is an upgraded version of ‘Sponge’, which achieved viral success last year.

Sponge V2 introduces new features that will blow the market away. At the core of Sponge V2 is an enhanced ecosystem that offers new play-to-earn activities and attractive staking incentives for investors. This dynamic ecosystem is the cornerstone of Sponge V2’s appeal.

💸🛌 Passive accumulation #SPONGEV2 You can receive rewards just by staking $sponge!
Enjoy over 40% APY and watch your assets grow.
It’s never been easier! 🧽 🙌🙌 #Crypto Staking #memecoin #how pic.twitter.com/N0z2n4W9is
— $SPONGE (@spongeoneth) January 10, 2024

In the realm of Play-to-Earn games, Sponge V2 stands out for its groundbreaking advancements in token engineering and practicality. And by participating in these games, holders can increase their SPONGEV2 token holdings.

SPONGE also caught the attention of Tron founder Justin Sun.

#PeckShieldAlert Address 0x9FCc… 19Fe (Suspicious #justin sun Related) 6,166 people were withdrawn. $ETH (worth approximately $13.8 million) #Binance pic.twitter.com/8jGbcwRvzg
— PeckShieldAlert (@PeckShieldAlert) December 26, 2023

Sun expressed keen interest in meme coins last year and announced plans to invest in them.

I decided to actively trade meme coins and promising projects through public addresses. Any losses that may arise from these transactions will be personally borne by me, and all profits generated will be donated to charity.
— HE Justin Sun Sun Yuchen (@justinsuntron) May 11, 2023

With a total wallet value of $595 million, Sun holds about $100,000 worth of SPONGE.

Games with rewards

Sponge V2 Users can earn tokens based on their in-game rankings while participating in exciting racing and fighting activities, and are rated as one of the best gaming tokens to buy.

Sponge V2 also has excellent staking features and is seamlessly integrated into the gaming experience. These synergies increase the overall appeal to both seasoned and novice investors.

With the bears currently controlling the price of Dogwifhat, the SPONGEV2 pre-sale presents another opportunity to profit. With the Sponge V2 debut imminent, time is of the essence.

Visit the Sponge V2 official website here..