The Dogwifhat price surged 6% in the last 24 hours to trade at $3.11 as of 4 a.m. EST on trading volume that skyrocketed 168% to $708.9 million.
The WIF price skyrocketed earlier to hit $3.30 before paring some gains. The gains come amid a new outbreak of meme coin mania fueled by the return of Roaring Kitty, the man behind the GameStop (GME) saga in 2021.
That saw Reddit traders overpower hedge funds that were profiting from short bets against the game store.
Pepe soared 23% while DOGE climbed 5% and SHIB 4%.
Dogwifhat Price Prediction
Dogwifhat has seen significant price volatility in the past several hours, with its value fluctuating between $3 and $3.10 for the most part. However, this kind of performance comes after the token reached $3.33 earlier today, only to correct to current levels.
With its price moving up and down, many might wonder if the token can surge or if its price will break the support and sink further.
According to certain technical indicators, such as Bollinger bands, WIF shows bullish signals, which might increase its value. While the bands are not at their widest point, they have seen a widening after the correction that took place earlier today, which is a good sign.
On the other hand is the project’s Relative Strength Index (RSI), a metric that shows whether traders are buying or selling and which group is in the lead.
The RSI score has approached the neutral area, meaning the buying and selling powers are relatively balanced. The meme coin is neither being oversold nor overbought.
Of course, that is only the case at the time of writing, as WIF’s RSI reached both points in the last 24 hours alone.
But, with the RSI signaling stability and balance and Bollinger bands showing bullish signals, the WIF price may go up and either breach the resistance at $3.10 or possibly just stick close to it, awaiting the next opportunity to skyrocket.
Promising Alternative To Dogwifhat
While Dogwifhat grew to become a very successful meme coin, some believe there are new challengers that have yet to see “their moment.” One such project is Smog (SMOG), a dragon-based meme coin running on Solana’s network.
Smog recently launched what it calls the greatest Solana airdrop of all time. The airdrop allows users to receive rewards through SMOG tokens in exchange for collecting XP.
Users can earn XP in exchange for completing certain tasks or trading SMOG tokens, which is the fastest way to accumulate a large amount of XP in the current airdrop season.
#SMOG!
🐉 Soar
🔥 Burn
👑 Rule
— SMOG (@SMOGToken) March 5, 2024
Smog also offers staking with an annual return of 42% right now.
The best place to buy SMOG tokens is on the official website here, where you get a 10% discount. SMOG is available in exchange for ETH and USDT, but it can also be purchased with debit and credit cards.
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