Dogwifhat Value Prediction: WIF Plunges 5% As This Layer-2 SOL Meme Coin Rival Costs In direction of $13 Million In Presale

The Dogwifhat worth plunged greater than 5% within the final 24 hours to commerce at $1.34 as of 9:54 p.m. EST as traders dump their holdings within the canine-themed meme coin available on the market.

Together with the drop within the WIF worth, the crypto additionally skilled an over 33% lower in 24-hour buying and selling volumes to round $662.04 million.

Dogwifhat Value Resting On Key Assist

Every day chart for WIF/USD (Supply: GeckoTerminal)

The Dogwifhat worth is resting on the $1.2504 help degree after buying and selling in a unfavourable sequence of decrease lows and decrease highs over the previous couple of days. Ought to the meme coin drop beneath this technical security internet, it may stand the chance of falling to the next help at $0.7697.

Alternatively, a rebound from the $1.2504 help degree within the subsequent 48 hours may invalidate the bearish thesis. On this different case, the crypto may attempt to reclaim a place above the $1.6734 mark. Thereafter, continued stress from consumers may push the Dogwifhat worth as much as as excessive as $2.1541.

Technicals Warn The Dogwifhat Value Would possibly Preserve Dropping

Technical indicators on SOL’s each day chart warn the meme coin’s worth may hold dropping within the subsequent 48 hours, with Exponential Transferring Averages (EMAs) and the Transferring Common Convergence Divergence (MACD) displaying bearish indicators. 

The 9 EMA is at present positioned beneath the 20 EMA on the each day chart. This alignment of the shorter EMA beneath the longer EMA is commonly seen as a sign {that a} crypto is in a unfavourable development, with momentum favoring sellers. 

In the meantime, a significant bearish technical flag is on the verge of being triggered by the MACD. Within the final 24 hours, the MACD line has dropped in the direction of the MACD Sign line. Now, the prior is seeking to cross beneath the latter. If this intersection occurs, it could possibly be an indication that the Dogwifhat worth has entered a unfavourable cycle.

Whereas WIF dangers dropping some extra within the subsequent 48 hours, the presale for layer-2 Solana meme coin rival Solaxy (SOLX) is charging in the direction of the $13 million mark. 

The mission’s robust ICO efficiency is prone to keep on given the bullish predictions by crypto consultants. Amongst them is 99Bitcoins, a well-liked crypto YouTube channel with over 721K subscribers, who says SOLX may 100X after launch.

Solaxy To Unlock Solana’s Full Scalability Potential

Solana is likely one of the quickest blockchain networks at present out there. This pace, mixed with its low transaction charges, has made the chain the community of selection for builders seeking to capitalize on the current hype round meme cash. Even Donald Trump himself launched a token on the Solana community, which managed to attain a market cap within the billions.

Nevertheless, Solana’s reputation has come at a value. As extra tokens enter the Solana ecosystem each day, the community turns into extra congested. This excessive degree of site visitors has negatively impacted the chain’s speeds and upped transaction prices.

Solaxy, with its personal layer-2 aspect chain and scaling expertise, goals to deal with Solana’s congestion by taking on a few of the community’s transaction processing workload. 

By operating parallel to Solana, the layer-2 chain will present the mainnet with the computational energy wanted to deal with the inflow of recent meme cash. In consequence, Solaxy is not going to solely enhance Solana’s speeds, it should additionally slash the community’s already-competitive transaction charges.

The mission may even join Solana to the Ethereum community by way of bridging expertise. This can unlock a brilliant Web3 ecosystem that mixes Solana’s speeds and value effectivity with Ethereum’s strong safety infrastructure and thriving DeFi panorama. Solaxy will then be positioned as a transaction layer between two of essentially the most outstanding chains within the crypto area.

Excessive Staking Rewards Pull Traders In Throughout The Presale Stage

Solaxy has already raised over $12.7 million by way of its ongoing ICO, signaling robust investor confidence within the mission’s future. With the bullish predictions from consultants like 99Bitcoins and the mission’s mission to scale the Solana community, it’s no marvel a shopping for frenzy has erupted round SOLX’s presale. 

There’s additionally a 296% staking APY on provide to anybody who buys and locks up SOLX throughout this ICO section that may be pulling traders in. To get in on these rewards, traders will merely have to buy SOLX by way of the purchase widget embedded on the mission’s web site. 

Promoting for $0.001608, SOLX will be purchased with each crypto or financial institution card. After buying some SOLX tokens, traders can head over to the staking web page on the web site to place their tokens to work for the excessive passive rewards.

Purchase and stake SOLX for the 296% APY earlier than a scheduled worth enhance in 32 hours.

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