Dogwifhat (WIF) has dropped by 13% in the past 24 hours, with its current price at $1.78. The token recently fell below its $2.37 support level, indicating rising selling pressure. If the bearish trend persists, WIF could further decline to $1.72.
A few days after leading the meme market rally, Dogwifhat (WIF) has started losing some of its recent gains. Currently trading at $1.78, the dog-themed token has become one of the top seven cryptocurrencies with the biggest losses in the past 24 hours.
Dogwifhat (WIF) Faces 13% Price Drop Amidst Bearish Trend
Dogwifhat (WIF) has experienced a 13% price drop in the past 24 hours, following a recent rally that created an ascending channel on its daily chart. This pattern is characterized by the price making higher highs and higher lows, forming two parallel upward-sloping trend lines. In WIF’s case, the upper trend line acted as resistance, while the lower line served as support.

Dogwifhat Analysis. Source: TradingView
The token encountered resistance at $2.62 and support at $2.37. However, on July 3, WIF’s price fell below this support level, indicating that buying pressure had weakened and the bulls were unable to maintain the support. This breakdown below support is a bearish signal, suggesting that the decline could continue as selling pressure overwhelms buying pressure.
The recent price drop has been accompanied by a significant increase in trading volume, which has surged by 101% to $621 million. A bearish divergence is evident here, where the rising trading volume amid falling prices indicates that more market participants are selling their holdings. This trend further supports the ongoing downtrend in WIF’s price.
WIF’s Parabolic SAR Indicator Signals Potential Trend Reversal
Recent readings from Dogwifhat’s (WIF) Parabolic Stop and Reverse (SAR) indicator reveal a shift in market sentiment. After being positioned below the price for eight days, the SAR dots are now resting above the token’s price. This change indicates a bearish trend, suggesting that the price may continue to decline.
The Parabolic SAR indicator helps identify the direction of an asset’s trend and potential reversal points. When the dots are above the price, it signals a downtrend. If this bearish trend persists, WIF’s price might drop further to around $1.71.

Dogwifhat Analysis. Source: TradingView
Conversely, if buying momentum returns, there is potential for the token’s price to rise to $1.86. This highlights the possibility of a trend reversal if market conditions improve.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#WIF #DogWifHat #Bitcoin #Chainlink #EthereumETF $WIF $SHIB $BTC

It’s unclear whether Mt. Gox’s recent wallet activities are just small test transactions in preparation for the larger transfers that will be part of the upcoming repayments.
Small Bitcoin transactions from Mt. Gox wallets are thought to be preparations for a $9 billion repayment plan. These funds are being moved to exchanges like Kraken and Bitbank to ensure that clients will have access to them when the repayments begin.

Mt. Gox Wallets Conduct Test Transactions Ahead of Major Repayments
A few wallets linked to Mt. Gox made small Bitcoin transfers earlier today, according to data from Arkham Intelligence. Some of the Bitcoin was sent to a wallet associated with Bitbank, one of the exchanges selected to manage the Mt. Gox creditor repayments.

Mt. Gox wallets engaged in small Bitcoin transactions
Arkham Intelligence reports that the transactions involved three wallets from the defunct exchange, with the largest transfer amounting to approximately $24. These transfers are believed to be test runs in preparation for the substantial customer repayments scheduled for this month.
Mt. Gox Transfers Bitcoin in Preparation for Upcoming Repayments
In addition to sending Bitcoin to Bitbank, Mt. Gox has also transferred part of its Bitcoin to an unidentified wallet. The purpose of this particular transfer remains unclear.
These transactions occur as Mt. Gox’s trustee prepares to start the repayment process in July. Rather than being paid directly to clients, the repayments will be routed through several exchanges, including Kraken, Bitstamp, and Bitbank. These exchanges will handle the distribution of funds to the Mt. Gox creditors.
The repayment process is expected to take up to 90 days, though the specific schedule for these disbursements has not yet been announced.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#MtGox #Bitcoin #EthereumETF #Consensys #Chainlink $BTC $ETH $BNB

The post "Chainlink and Cardano Rank Among Top 5 Most Actively Developed Cryptocurrencies" first appeared on 36crypto.com News.
Chainlink (LINK) and #Cardano (ADA) have climbed the ranks to become two of the top five most actively developed cryptocurrencies. This rise in development is a fundamental parameter that can increase the value of digital currencies. The most recent data shows that Chainlink has risen to the second position in development activity while it is outrun only by Hedera (HBAR). This ranking methodology entails adding all non-redundant project activities and dividing this total by activities that have occurred on average over the past month.
The updated list highlights the dynamic changes within the cryptocurrency development landscape: Hedera (HBAR), Chainlink (LINK), Optimism (OP), Internet Computer (ICP), Cardano (ADA), Status (SNT), Cosmos (ATOM), zkSync (ZK), Starknet (STRK) and Aptos (APT). Chainlink did not go straight to the first place, but it and Cardano are among the most steadily developed cryptocurrencies.
Development Activity Boosts Market Performance
Chainlink currently sits at $14 and has risen by 5.14% within the last week. Also, the amount of trading has grown by 40%, showing an increased number of traders among the members. The stock is close to the exponential moving average of 50 days at $15.27, where 100 and 200 EMAs are above the price action. If Chainlink is going to move up these resistance levels, there is a possibility that it is going to initiate an upward trend.
Cardano's price, at $0.40, gradually increased by approximately 3.4 % within the past three days. Based on the chart of the Cardano course below, the following can be concluded: Cardano has received significant opposition at $0.42 and the 50 EMA, which may make it easier for a trader to enter the trade. To overcome this level would mean that the following targets would be at the 100 and 200 EMAs. The constant investment focus by Cardano is particularly helpful in forging investors' confidence and generating market attention.
Conclusion
#Chainlink and Cardano's positions among the top five most actively developed cryptocurrencies highlight their ongoing dedication to innovation and growth. As development activity continues to play a pivotal role in boosting the value of digital assets, both projects are well-positioned to achieve further market success.