Dogwifhat (WIF) Price Prediction 2023-2024: Is WIF a Good Investment?

The Dogwifhat price plunged over 6% in the last 24 hours to trade at $2.33 as of 11:30 p.m. EST. This recent drop in the WIF price could be the

The price of Dogwifhat (WIF) dropped over 6% in the last 24 hours to trade at $2.33 at 11:30 p.m. EST.

The recent decline in the WIF price could be attributed to some traders booking profits following the crypto’s strong performance over the last month. Despite the recent pullback, CoinMarketCap data shows that the meme coin is still up by more than 40% in the last 30 days.

Dogwifhat Price About To Test Key Support4-hour chart for WIF/USD (Source: GeckoTerminal)

The price of Dogwifhat is approaching the support level at $2.2418. A break below this technical safety net could open up the risk of the meme coin dropping to the subsequent mark at $1.9443 in the following 24 hours.

However, WIF maintaining a position above $2.2418 for the next 12 hours could stop the bearish move in its tracks. In this alternative scenario, the price of Dogwifhat might rebound and try to break above the $2.5394 resistance. Overcoming this obstacle could then give the crypto the room needed to potentially climb to as high as $2.8370.

Sellers Maintain A Tight Grip On The Dogwifhat PriceTechnical indicators on WIF’s 4-hour chart warn that the meme coin’s downward trend may have only just started. In addition to the Moving Average Convergence Divergence (MACD) indicator flashing bearish, a major bearish flag was also triggered by short-term Exponential Moving Averages (EMAs) in the last few hours.

Currently, the MACD line is positioned below the MACD Signal line to indicate that WIF is in a negative cycle. The gap between these two technical indicators is also growing, which suggests the meme coin’s bearish trend shows no signs of slowing down just yet.

The 9 and 20 EMAs echo a similar warning, after the shorter EMA crossed below the longer EMA throughout the past trading day. Traders might see this as a continuation signal that suggests sellers will maintain the upper hand over buyers in the coming 24 hours.

While bears maintain their control over WIF on the short-term time frames, the presale for meme coin rival Flockerz (FLOCK) is charging towards $1 million.

Putting Its Future In The Hands Of Its CommunityUnlike the countless centralized projects that claim to be fully decentralized, Flockerz (FLOCK) is actually a community-centric meme coin project. With its innovative vote-to-earn model, community members who hold FLOCK have a say in the project’s future direction – and get paid for it, to boot.

By constantly requiring its holders to vote on the team’s next moves, Flockerz will be able to keep its community engaged for much longer than any other meme coin token that has entered the market before it.

Flockerz also incentivizes community members to vote, giving them the opportunity to earn more crypto by simply participating in the project’s governance.

Its meme coin appeal combined with its vote-to-earn model makes Flockerz an attractive project to get involved in early, according to an analyst from the Cryptonews YouTube channel. In a video to its 11.4K subscribers, Cryptonews predicted that FLOCK could soar from anywhere between 10X and 100X after launch.

High Staking Rewards On Offer For Early BackersNot only will token holders stand to earn crypto with each vote they place, there is also an incredible staking opportunity on offer to anyone who buys and locks up FLOCK tokens.