Dogwifhat price has dropped 7% in the past 24 hours and is trading at $2.52 as of 7:30 AM EST. The trading volume has increased by 21.7% to $363 million. Dogwifhat price signals show the formation of a double bottom pattern. As the bears continue to push the price towards the $2.31 support area, a double bottom pattern has formed, suggesting a shift to a bullish trend.
Despite multiple attempts to push the price higher, the recent downtrend has been very strong. The bears continued to push the price lower after the price hit a high of $4.84, but the bulls have managed to maintain a stable support zone, preventing the bears from booking profits at the $2.32 support level.
The price is trading above the 50 and 200 Simple Moving Averages (SMAs). However, with the expected rebound, momentum is likely to pick up and help the bulls push the price above the 200 SMA to start a bullish run.
Although the trend is down, the relative strength index (RSI) is also signaling a rebound from the oversold level of 30, which may push it to the midpoint level of 50. If this momentum continues, the RSI may enter the overbought territory, indicating significant pressure from buyers.
Dogwifhat price bulls are preparing to initiate a bullish trend reversal. Traders are preparing for a double bottom pattern, which indicates a bullish trend reversal in WIF price. If the pattern forms, it will enable bulls to initiate a rally to recapture the high of $3.57.
Conversely, if the support area starts to falter, the bears are likely to continue the downtrend that can cause the price to drop towards the $1.95 support level.
Meanwhile, the WienerAI (WAI) token has gained traction in the crypto market, quickly raising $661,000.
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WienerAI is an ERC-20 token that runs on the Ethereum blockchain and provides holders with staking rewards of 13,171 TP3T per year, with 201 TP3T of its total supply used for staking rewards.
99Bitcoins, a popular YouTube channel with 700,000 subscribers, said WienerAI could see a massive rally after its launch and become the next 100x cryptocurrency.
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“Dog in a Hat Price Prediction: WIF Plummets 7%, This AI Meme Coin Hybrid Soars to $1 Million”
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