dogwifhat

Rescue

Shiba Inu

Elon Musk

<ul> 
 <li>Dogwifhat (WIF), a once-popular memecoin featuring a Shiba Inu wearing a playful knitted beanie, is now facing considerable turmoil.</li> 
 <li>Following an impressive surge earlier this year, WIF has steadily declined, stuck in a downward trend since late May.</li> 
 <li>Analysts are closely monitoring WIF as it nears a crucial support level, with its future teetering between bullish and bearish outlooks.</li> 
</ul> 
<p>The latest technical analysis of <a href="https://cryptonewsland.com/moonbag-meme-coin-rewrites-history-with-highest-presale-record-while-floki-inu-and-dogwifhat-fade-into-oblivion/" target="_blank" rel="noreferrer noopener">Dogwifhat</a><a href="https://cryptonewsland.com/moonbag-meme-coin-rewrites-history-with-highest-presale-record-while-floki-inu-and-dogwifhat-fade-into-oblivion/"> (WIF) paints a bleak picture</a>. The descending channel pattern, marked by lower highs and lower lows, indicates ongoing selling pressure.&nbsp;</p> 
<p>Since late May, <a href="https://www.binance.com/en/price-prediction/dogwifhat">Dogwifhat’s price has </a><a href="https://www.binance.com/en/price-prediction/dogwifhat" target="_blank" rel="noreferrer noopener nofollow">plunged</a><a href="https://www.binance.com/en/price-prediction/dogwifhat"> 30%</a>, hovering near the crucial $2.44 mark. In the past week alone, WIF has lost 15% of its value. This level is critical for WIF—if the bulls can’t maintain this support. According to the post below, price could drop further, potentially hitting a new low of $1.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr">even though i think on high timeframe <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WIF</a> looks cooked and destined for $1 i also believe a 50% bounce first could be on the cards.<br><br>we can see 5 waves down from the $4 lower high and nice bull divs on 4h,8h, and 12h.<br><br>Expecting a countertrend abc up to around $3-3.4 to rope… <a href="https://t.co/rWf2aHFLqG">https://t.co/rWf2aHFLqG</a> <a href="https://t.co/z5Sr6YVXRP">pic.twitter.com/z5Sr6YVXRP</a></p>— Bluntz (@Bluntz_Capital) <a href="https://twitter.com/Bluntz_Capital/status/1802152308299710527?ref_src=twsrc%5Etfw">June 16, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-technical-and-sentimental-outlook-nbsp">Technical and Sentimental Outlook&nbsp;</h2> 
<p>Adding to WIF’s bearish outlook is the <a href="https://www.fidelity.com/learning-center/trading-investing/technical-analysis/technical-indicator-guide/aroon-indicator" target="_blank" rel="noreferrer noopener nofollow">Aroon Down indicator</a>, which evaluates the strength of a downtrend. WIF’s Aroon Down Line is alarmingly high at 100%, signaling a deeply entrenched downtrend with recent lows.&nbsp;</p> 
<p>This market behavior shows intense selling pressure, making it even harder for WIF holders to accumulate the token. So, can bulls rescue the falling memecoin?</p> 
<p>Although market sentiment is predominantly negative, WIF enthusiasts still have a reason to hope. Considering the general crypto market is currently in the <a href="https://cryptonewsland.com/crypto-investors-eye-re-accumulation-phase-amid-bull-run-anticipations/">re-</a><a href="https://cryptonewsland.com/crypto-investors-eye-re-accumulation-phase-amid-bull-run-anticipations/" target="_blank" rel="noreferrer noopener">accumulation</a><a href="https://cryptonewsland.com/crypto-investors-eye-re-accumulation-phase-amid-bull-run-anticipations/"> phase</a>, there’s a chance the price could bounce back to $2.70.&nbsp;</p> 
<p>This bounce would offer a brief respite, allowing WIF to consolidate and perhaps break out of its downward trend. However, if the price drops below this support level, market confidence could waver, resulting in further declines in WIF’s price and stability.</p> 
<h4 class="wp-block-heading" id="h-read-also">Read Also&nbsp;</h4> 
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/gate-io-launches-nft-collection-from-dog-rescue-initiative/">Gate.io Launches NFT Collection From Dog Rescue Initiative</a></li>
 <li><a href="https://cryptonewsland.com/philippine-police-rescue-crypto-scam-victims/">Philippine Police Rescue 1,000 Crypto Scam Victims</a></li>
 <li><a href="https://cryptonewsland.com/how-did-dogwifhat-wif-surge-over-25-overnight-analysis-predictions/">How Did dogwifhat (WIF) Surge Over 25% Overnight? Analysis &amp; Predictions</a></li>
 <li><a href="https://cryptonewsland.com/elon-musk-says-america-bankruptcy-is-close-xrp-to-the-rescue/">Elon Musk Says America Bankruptcy Is Close, XRP To the Rescue</a></li>
 <li><a href="https://cryptonewsland.com/memecoin-dogwifhat-wif-achieves-remarkable-milestone-with-3-35-ath/">Memecoin dogwifhat (WIF) Achieves Remarkable Milestone with $3.35 ATH</a></li>
</ul> 
<p>The post <a href="https://cryptonewsland.com/dogwifhat-wif-at-a-crucial-point-can-bulls-rescue-the-falling-memecoin/">Dogwifhat (WIF) at a Crucial Point: Can Bulls Rescue the Falling Memecoin?</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Dogwifhat (WIF) at a Crucial Point: Can Bulls Rescue the Falling Memecoin?

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