Dogwifhat (WIF) Price Prediction 2023: Can WIF Recover After Plunging 22% in a Week?

The Dogwifhat price plunged 22% in the past week after tumbling 2% in the last 24 hours to trade at $2.03 as of 2.30 a.m. EST on trading volume that declined 1% to $316.47 million.

The price of Dogwifhat (WIF) has seen a strong recovery in the last 24 hours, rising 2% to trade at $2.03 as of 2.30 a.m. EST on trading volume that declined 1% to $316.47 million. The token’s price did see a steep decline last week, dropping 22% in the period.

However, the token’s recovery is showing signs of optimism among traders, especially considering that WIF did see a strong drop to a support at $1.9 earlier in the last 24 hours. But, despite the recovery, traders are being advised to consider some promising alternatives that are available.

Dogwifhat Price Struggles at Resistance, May Drop Further

The Dogwifhat price did see a strong recovery from the lower support, rising back up to a resistance at $2.03. But, the price has been struggling to break past this resistance for some time now, which could indicate a potential drop back down.

The Bollinger bands are widening out further, which indicates increased volatility. But, the price did drop back to the middle area between the bands earlier, which could indicate a potential breakout from the bands.

Relative Strength Index (RSI) Surges Back Up

The RSI value did drop to the oversold zone earlier in the last 24 hours, reaching a value of 24.43. But, the value did surge back up rapidly, reaching the value of 58 within nine hours.

This indicates a strong recovery in buying pressure, which pushed the RSI back up from the oversold zone. But, the value did drop again from the overbought zone earlier.

However, it seems like a new wave of buyers may have stepped in at this time, as the RSI is now surging back up again. At the moment, the bulls and the bears are battling it out.

The Dogwifhat price has also been very reactive to the changes in buying and selling pressure, fluctuating between $2.00 and $2.05 in the last few hours. Overall, there is both optimism and uncertainty.

Promising Alternative To Dogwifhat

While the WIF price does show signs of wanting to grow, which means that a large portion of traders are bullish on the token and are likely seeking to profit from a recovery from the week-long losses, the token’s price is struggling to surge back up to its previous levels. This is likely due to day traders attempting to make small profits from any positive price movement.

Fortunately for those who are not willing to take a risk with the WIF recovery at this time, there are safer alternatives that may offer just as big, if not greater potential.

Some of the biggest opportunities come from meme coins that are still in presale, and among those one of the most promising is Crypto All-Stars, a new project that is revolutionizing meme coin staking.

That’s because it created a new smart contract for staking called MemeVault, which allows users to stake around a dozen major meme coins, rather than just the project’s native token, STARS.

This enables investors with large meme coin portfolios to stake their meme coins in one place. MemeVault already supports DOGE, PEPE, SHIB, MOG, TURBO, BRETT, COQ, LADYS, BONK, FLOKI, and TOSHI, and it will add support for new ones after it goes live.

All of this gives Crypto All-Stars massive potential, and experts such as ClayBro, a crypto YouTuber with over 130k subscribers, believe it could be the next 10x crypto.

If you are eager to join investors who have pumped more than $3 million into STARS, you can buy its tokens for $0.0015432 each. With a price hike coming in less than 22 hours, buy soon for the best deal.