🚀🚀Will Dogecoin (DOGE) and Dogwifhat (WIF) rise? 🚀🚀

What is the latest situation in memecoins DOGE and WIF, which are experiencing selling pressure with the increase in Bitcoin dominance?$DOGE

Memecoins performed poorly in the second week of December, and most memecoins experienced double-digit declines, negatively affecting their investors. The selling pressure in DOGE and WIF in particular$WIF

drew attention. So, will these two popular memecoins continue their decline? What levels should be considered?

A few weeks ago, the price of Dogecoin rose towards $1. However, this week, DOGE lost 10 percent of its value. Dogecoin’s Money Flow Index (MFI), a data showing buying and selling pressure, has seen DOGE’s MFI drop from 75.57 to 24.12. This indicates that investors who profited from the price increase in the previous weeks have started selling. The decrease in trading volume shows that DOGE has not yet entered a recovery period. If this trend continues, Dogecoin’s price could fall to $0.37. However, if Dogecoin accumulation increases, the price has the potential to rise again towards the $1 target. Unlike DOGE, WIF has also experienced a decline this week. The 25 percent drop in the popular memecoin’s price was due to increased selling pressure. WIF’s price gave a bearish signal by forming a head-and-shoulders formation. This formation usually indicates that further value losses will occur. If the current downtrend continues, the price of the Solana-based memecoin could fall to $1.88. However, if the bulls defend the $2.35 support, this scenario may not happen. In this case, the WIF price could rise to $3.93.

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