Dogwifhat Price Plunges 6% As This New Vote-To-Earn Meme Coin Rival Charges Towards $1 Million In Presale

Dogwifhat Price Dips amid Profit-Taking

The Dogwifhat price has plummeted over 6% in the past 24 hours, reaching $2.33 at 11:30 p.m. EST.

This decline follows a period of strong performance for the crypto, with CoinMarketCap data indicating a 40% increase over the last 30 days. However, some traders may be seizing the opportunity to realize their profits.

Approaching Key Support

The Dogwifhat price is nearing the $2.2418 support level. A break below this level could send the meme coin down to $1.9443 within 24 hours.

Conversely, if WIF maintains its position above $2.2418 in the next 12 hours, it could reverse the bearish trend. A rebound may then lead to an attempt to break above the $2.5394 resistance, potentially opening up a path to $2.8370.

Sellers Maintain Control

Technical indicators on WIF's 4-hour chart suggest a continuation of the downward trend. The MACD indicator is bearish, and a bearish flag formation has emerged.

The MACD line remains below the signal line, indicating a negative cycle. The gap between these indicators is widening, suggesting no immediate slowdown in the bearish momentum.

The 9 and 20 EMAs also signal a bearish continuation, with the shorter EMA crossing below the longer EMA. This formation suggests that sellers may retain control in the coming hours.

Flockerz Rival Gains Attention

While bears dominate WIF in the short term, the presale for meme coin rival Flockerz (FLOCK) is approaching $1 million.

Community-Centric Approach

Unlike centralized projects, Flockerz is a community-driven project. Its vote-to-earn model allows holders to influence the project's direction and earn rewards for participating in governance.

This innovative approach aims to keep the community engaged and incentivizes participation.

Attractive Early Investment

Analysts predict FLOCK's potential for significant growth (10X-100X) after launch. It offers high staking rewards (3,197% APY) for early backers.

Conclusion

Dogwifhat faces a price correction as traders realize gains, while Flockerz emerges as an attractive investment opportunity with a community-centric model and high staking rewards.