Dogwifhat Plummets 3%, Coinbase International Announces Perpetual Futures Launch

Dogwifhat price has declined 3% to $2.84, signaling a potential bullish reversal. The double-bottom pattern suggests a shift toward a positive trend, supported by the upcoming launch of Dogwifhat perpetual futures on Coinbase International Exchange. Despite the recent downtrend, WIF's price has bounced back from the $2.31 support zone, with bulls aiming to reclaim the $4.84 high. Investors are also expressing interest in Slothana (SLOTH), a Solana-based token, as it enters its final presale phase.

Dogwifhat Price Plummets 3%, Coinbase International to Launch Perpetual Futures

Despite the recent decline in the cryptocurrency market, Dogwifhat (WIF) has witnessed a significant surge in trading activity, with a 2% increase in volume to $472 million. However, the price has dipped by 3% in the last 24 hours, trading at $2.84 as of 7:30 a.m. EST.

This decline has been offset by positive news for WIF traders, as Coinbase International has announced plans to launch DogWifHat perpetual futures. The trading of WIF-PERP on Coinbase will commence on or after 9:30 a.m. UTC on April 25th, 2024.

"@CoinbaseIntExch will add support for dogwifhat perpetual futures on Coinbase International Exchange and Coinbase Advanced. The opening of our WIF-PERP will begin on or after 9:30am UTC on 25 APR 2024," tweeted Coinbase International Exchange.

Double Bottom Pattern Signals Bullish Trend for Dogwifhat

Technical analysis of Dogwifhat's price action suggests a potential shift towards a bullish trend. The formation of a double-bottom pattern, where the price rebounds from a support zone at $2.31, indicates a reversal in momentum.

The bulls have shown resilience in attempting to reverse the recent downtrend, which has seen the WIF price drop from a peak of $4.84 to around $2.32. The current price stability at around 50 Simple Moving Average (SMA) indicates the bulls' resolve to drive the price higher.

Momentum Buildup and RSI Indicator

Further analysis reveals a positive trend in the relative strength index (RSI), which measures the momentum of price changes. The RSI has moved upwards from the oversold level of 30 to above the midline level of 50. If this momentum continues, the RSI could enter the overbought territory, suggesting significant buying pressure.

Bullish Trend Reversal on 50 SMA

The formation of the double-bottom pattern has provided an opportunity for the bulls to initiate a rally. The price has held steady at around 50 SMA, demonstrating their ability to maintain momentum. This allows them to push the price towards reclaiming the previous high of $4.84.

However, if the support zone at $2.31 fails to hold, the bears could regain control, causing the price to fall to the support level at 50 SMA.

Slothana: The Potential 100X Meme Coin

As WIF price traders anticipate a bullish move, investors are showing interest in Slothana (SLOTH), an alternative Solana-themed token that draws inspiration from popular meme coins such as SLERF, PUMP, PUNDU, and BOME.

Slothana has raised over $15 million in its presale, and investors have less than six days remaining to purchase before its launch on April 29th, 2024.

"Prepare for a moonshot as we ready the engines of the Slothship! With the launch just around the corner, our slothful crew is gearing up for an epic journey through the crypto cosmos," tweeted Slothana.

The team plans to airdrop tokens to investors, and details will be provided at launch. Investors can purchase SLOTH tokens by sending SOL to the project's wallet or making a direct purchase on the Slothana website.