Popular Solana meme coin DogWifHat ($WIF) failed to hold the crucial $2 psychological support level yesterday and plunged 7% overnight to its current price of $1.73.
The token bottomed at $1.58 in the early hours UTC today before rising to its current level. Its current price reflects a heavy seven-day drop of around 24%.
DogWifHat was the only one among the five largest canine-themed meme coins to post overnight price losses of more than 5%.
Market leader and original meme coin, Dogecoin ($DOGE), dipped 1.2% over the last 24 hours and fell 13% over the last seven days.
Two popular dog coins—Shiba Inu ($SHIB) and Bonk ($BONK)—actually rose overnight. $SHIB added 2.3% while $BONK added 5.2%, although the pair posted seven-day losses of 3% and 1.2% respectively.
Floki $FLOKI tracked Dogecoin closely, falling 1.4% overnight and 15% over the week to hit $0.0001443 as of this writing.
Crypto market leader Bitcoin ($BTC) fell 0.3% overnight and 8.7% over the week to change hands at $57,397.
Its number one contender, Ethereum ($ETH), rose 1.3% overnight but fell 12.3% in seven days to its current price of $3,050.
DogWifHat Price Analysis
DogWifHat is underperforming relative to its trajectory over the last three months.
The meme coin previously found resistance at $3.50 and support at $2.50 throughout May, however it’s now finding bottoms at $1.50, as shown by the green line. This indicates fallen support.
A rising Relative Strength Index (RSI) of 48 is a sign of possible short-term stability but continued losses by market leader Bitcoin will likely depreciate DogWifHat’s price further.
As DogWifHat Price Wobbles, Crypto Investors Lap Up AI Trading Bot Meme Coin WienerAI
Meme coins are the most speculative side of an already highly speculative industry.
That means when Bitcoin is not doing so well, the price performances of meme coins like DogWifHat are often woeful.
In order for meme coins to have more of a buffer against market downturns, they need greater value propositions.
Accordingly, a new generation of meme coins like ScottytheAI and WienerAI are adding AI utility to their viral appeal to unlock some potentially exponential gains.
On the surface, WienerAI looks like another dog-themed meme coin, but it’s much more than that.
It’s a next-generation crypto project that utilizes viral marketing strategies to offer crypto fans a high-value proposition: the most advanced, beginner-friendly AI trading bot in crypto.
The presale is approaching its fourth month, and has so far taken a tidy $7.2 million in investments.
Touted as a “Revolutionary AI Trading partner”, WienerAI ($WAI) is a digital companion that gives its owners user-friendly AI-enhanced trading advice, seamless swap functionality and zero fees.
Moreover, Blockchain security platform Coinsult audited WienerAI’s smart contract.
Around 20% of $WAI’s supply is for staking.
WienerAI’s website offers buyers the ability to stake during the presale in order to take advantage of the mouth-watering yield, which is currently 158% APY.
This makes $WAI a far better Dog-coin for the price than DogWifHat.
Sunday walks are easy when you don’t have to worry about trades!
Let WienerAI handle it all while you relax pic.twitter.com/r427WHIT7O
— WienerAI (@WienerDogAI) July 7, 2024
The token currently sells at a fixed presale price of $0.000726 on the website.
Interested investors have a just over a day to buy in before it rises to the next fixed price. When the presale ends, the sky’s the limit on potential appreciation.
Keep on top of WienerAI news over on X and Telegram.
Join WienerAI Here
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