Dogwifhat (WIF), the third largest memecoin in crypto and the largest on Solana, has had a volatile week alongside the wider market crash since the Israel-Iran conflict flared up.
The Dogwifhat price crashed to a new monthly low of $1.81 over the weekend, before rebounding to just over $3.14 on Monday. This recovery coincided with a record trading volume of 1.32 billion WIF that day, the highest since its launch in November 2023.
Top 10 Solana memecoins according to volume on DEX screener :
Dogwifhat – $WIF
Slerf – $SLERF
Jeo Boden – $boden
Pups – $pups
Cat in a dogs world – $MEW
Book of meme – $BOME
We are retards – $WAR
Dogwifhat – $WIF
Norman – $Norm
Einstein peace and love – #EINSTEIN
Peace coin -… pic.twitter.com/ZzprCpzfSl— Solana Post (@SolanaNewsPost) April 14, 2024
This peak in trading volume was 28% higher than the previous record of 1.04 billion WIF on March 30th, aligning with Dogwifhat’s all-time high price of $4.95.
The increased trading activity suggests strong entry by new investors and enhanced liquidity, which helps stabilize prices during market slumps.
OKX Listing Boosts WIF Price
The WIF token saw a significant bounce following OKX’s announcement that it would list WIF and MEW tokens for spot trading. This inclusion on one of the leading cryptocurrency exchanges enhances WIF’s visibility and market liquidity.
Deposits for both tokens began at 10:00 AM on April 15, 2024, with WIF/USDT and MEW/USDT spot trading starting over the next two hours. Withdrawals then opened the following day. The endorsement of a well-regarded exchange like OKX typically bolsters investor confidence, likely increasing WIF’s trading volume and price.
OKX announces spot trading for $WIF and $MEW memecoins!
You can Deposit Dogwifhat (WIF) & Cat in a Dog's World (MEW) now pic.twitter.com/knh3ht2AGK
— @TheLordofEntry (@thelordofentry) April 15, 2024
Dogwifhat Price Prediction
Today, the WIF token is priced at just under $2.60, navigating a delicate market balance. Here’s a breakdown of what that means for potential investors:
- Pivot Point: $2.90 marks a crucial juncture. Below this, the trend could flip bearish.
- Resistance Levels: Investors should watch for $3.40, $3.80, and $4.30. Surpassing these could indicate strengthening momentum.
- Support Levels: Significant supports are at $2.30, $1.90, and $1.60. Breaching these could signal further declines.
The Relative Strength Index (RSI) at 39 hints at a bearish sentiment but nearing oversold conditions.
The 50-Day Exponential Moving Average (EMA) stands at $3.10, reinforcing the resistance near our pivot point.
Market Trend: The presence of a bearish engulfing candlestick pattern just below the $2.93 resistance and 50 EMA suggests potential selling pressure.
If WIF remains below $2.90, the market could see downward movements towards $2.20 or even $1.90.
Conversely, climbing above $2.90 might pivot the sentiment to bullish, attracting more buyers. Keep an eye on these levels as they will dictate the short-term direction of WIF in the market.
In his Dogwifhat price prediction video above, popular analyst Jacob Bury reviewed new Solana meme coin SLOTH.
Slothana ($SLOTH) – Next Big Meme Coin on Solana?
Slothana is quickly gaining traction within the cryptocurrency community, merging the charm of sloth-themed tokens with the efficiency of the Solana blockchain.
This emerging meme coin, crafted by a team linked to the successful Smog project, is drawing attention for its straightforward and engaging presale strategy, which emphasizes the potential for speculative gains without delving into complex tokenomics.
The initial phase of the presale was a hit, securing over 3,500 SOL (roughly $650,000) on its first day, pricing each $SLOTH at 10,000 per SOL. As the presale progressed, enthusiasm has only grown, with the total funds raised now exceeding $10 million.
With a presale countdown now added, just 13 days remain for investors to participate before Slothana officially launches.
Whether Slothana can replicate Dogwifhat’s success is yet to be seen however its live market cap at launch will be approximately 0.5% of that of $WIF, which now stands at over $2.5 billion since it flipped Pepe to become the #3 meme coin.
