Solana-based meme coin Dogwifhat had an outstanding rally final month with the WIF worth rallying all the best way to $4.75 thus turning into the third-largest meme coin by market cap. However, the Dogwifhat worth is going through robust promoting strain slipping by greater than 10% over the past 24 hours, all the best way to $3.53. Since then, it has partially recovered and at press time, it’s buying and selling at $3.9 degree.
Dogwifhat Price Faces Selling Pressure In April
The WIF token faces downward strain, experiencing a ten% correction over the previous 24 hours and a 25% lower for the reason that starting of the month, reflecting heightened promoting exercise inside the cryptocurrency market. A rounding high sample noticed within the 4-hour timeframe suggests a robust bearish sentiment prevailing for the memecoin.
Additionally, the Simple Moving Average (SMA) signifies a downward development, indicating a possible worth decline for the WIF token within the close to future. The Moving Average Convergence Divergence (MACD) indicator presents a steady crimson histogram, signaling a rise in promoting strain in comparison with shopping for strain within the crypto area.
Despite the bearish outlook, if the market undergoes a development reversal, the WIF token might collect momentum and purpose to retest its current excessive of $4.1975 by the upcoming weekend. Conversely, if the adverse development persists, the dogwifhat token might descend to check its help degree at $3.
Another Solana Meme Coin Ready for Launch
As the bullish sentiment round Dogwifhat cools down a bit, buyers within the Solana ecosystem are preparing for one more main meme coin launch. Amidst the speedy development of meme cash inside the burgeoning Solana ecosystem, Smog (SMOG) stands out with its dragon-themed idea and intensive airdrop marketing campaign. The challenge not too long ago concluded its season one airdrop marketing campaign, distributing a staggering $1 million. Following this milestone, the crew behind Smog introduced the coin’s first main change itemizing.
.@SMOGToken: Buy and maintain $SMOG tokens to achieve entry to the best airdrop Solana has ever seen, is coming to #MEXCKickstarter 🚀
🗳Vote with $MX to share huge airdrops
📈 $SMOG/USDT Trading: 2024-04-04 09:00 (UTC)Details: https://t.co/2hnzMA3fB4 pic.twitter.com/UYKQrN9L4T
— MEXC (@MEXC_Official) April 3, 2024
Traders and buyers now have the chance to commerce SMOG/USDT on MEXC, ranked because the eleventh largest cryptocurrency change by day by day buying and selling quantity. The distribution of Smog tokens was decided by the quantity of Zealy quests accomplished by every participant. Investors eagerly pursued XP, collectively reaching a formidable 7.5 million quests.
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