dogwifhat: 24% Dip and How You Can Make Some Coin (and a Few Laughs)

by
  • WIF took a nosedive, but hey, it’s bouncing back, like that time your car battery died but you made it work.
  • Don’t panic—swing traders might find themselves frozen in place without a proper buying volume.

Well, well, well, folks, here we are again with dogwifhat [WIF]. It recently took a dive from $1.12 to $0.85—a 24% drop in two days. What happened? Oh, just Bitcoin [BTC] sneezed and dropped from $108k to $104k at the end of May. Classic. 🙄

But hold on to your hats because in the past 24 hours, BTC bounced back from $103.8k to $106.5k—yep, a 2.5% move. And guess what? The crypto market took a little breather and recovered some of those losses. At the time of writing, CoinMarketCap reported that the memecoin sector was up 3.1% in the last 24 hours. Not too shabby, huh?

Looks like WIF’s got potential. Long-term buyers, get in here! It’s a popular memecoin with a bullish market structure—who wouldn’t want a piece of that pie? (Even if it’s a very, very small piece.)

Sure, on the shorter timeframes, momentum was a bit bearish, but that’s where you come in! This could be your cue for a long position. 🤑

The WIF Reset: Your Shot to Jump Back In

Looking at the 1-day chart, things are looking up for dogwifhat. It’s holding strong above its highs at $0.77, like a resilient little fighter. The 20 and 50-day Moving Averages (MA) are showing bullish signs, and we’re here for it!

That recent dip? Almost tested the 50-day MA as support, which is always a good sign. But, plot twist: trading volume has been dropping like your phone’s battery during a Netflix binge. 🛑

If there’s no buying pressure, you could see a slow-and-steady decline in price—kind of like waiting for your toast to pop and it never does. 😒

But, fear not! This probably won’t happen unless Bitcoin decides to take a nosedive below $102.8k. So, now’s your chance to buy this dip, with a nice little stop-loss set below the $0.76 level. Your future self will thank you. Or maybe not—who knows? 🤷‍♂️

Let’s talk about that 4-hour chart, shall we? Spoiler alert: it’s not as pretty as the 1-day chart. Trading volume is dropping like your grandma’s Wi-Fi signal, and the A/D indicator is heading downhill faster than a shopping cart in a parking lot. 🙃

dogwifhat has fallen below a three-week-old range (white), stretching from $0.93 to $1.21. And guess what? Bearish momentum is here, like a bad guest at your party. But wait—there’s hope!

The price is currently testing the 50-period MA on the H4 chart. If it manages to claw its way back above that, we could see it head toward the $1.21 range high. And that, my friend, could be a golden opportunity for swing traders to make a move. 💰

Read More

2025-06-04 03:38