The price of popular Solana meme coin DogWifHat ($WIF) has dropped 24% in the last seven days, posting the biggest intraweek losses among any of the ten biggest meme coins by market capitalisation.
At its current price of $1.46, DogWifHat remains virtually unchanged from 24 hours ago.
Fellow Shiba Inu-themed Dogecoin imitators Floki ($FLOKI) and Bonk ($BONK) posted comparable losses.
Floki fell 22.4% over the week to trade at $0.0001195, while Bonk dropped about 18% to land at $0.00001715.
All told, sector leaders Dogecoin ($DOGE) and Shiba Inu ($SHIB) held the fort best among the five classic doge-themed coins. Both only dropped by about 10% over the week, with Dogecoin now trading at $0.0975 and Shiba Inu changing hands at $0.00001355
Market leaders Bitcoin ($BTC) and Ethereum ($ETH) both dropped by about 8% over the week. The world’s favorite cryptocurrency, $BTC, is currently worth $58,535, while the $ETH token underpinning the most commercially important blockchain trades at $2,526.
DogWifHat Price Analysis – 2 September 2024
Over on DogWifHat’s price chart, we can see the meme coin hovering above the psychologically important $1.50 support level it maintained throughout all of summer.
Source: TradingView
The recent crypto crash on August 5 sent $WIF spiralling down to $1.11, which exaggerates a general decline in support, as shown by the slightly diagonal green line above. $WIF is also facing some stiffening resistance, indicated by the steeper falling red line.
A rising relative strength (RSI) index of 53 indicates some buying momentum. If it continues, $WIF may rebound from its current price up to $2 in the short-to-mid-term, as indicated by the white arrow, which shows $WIF’s price rebounding between support and resistance in a falling wedge pattern.
However, any growth will largely be contingent on a positive news cycle from the market.
DogWifHat Crash Sends Meme Coin Fans Into Crypto All-Starz
As an established meme coin, DogWifHat’s price tracks Bitcoin in a volatile manner and often soaks up the heaviest losses in a market downturn.
That’s why it’s always worth looking off the beating track for some of the catalytic gold rushes of early crypto prospecting. There are many tokens still only in presale that are quietly attracting millions.
One project pioneering a unified staking protocol for meme coin fans is Crypto All-Stars ($STARS) a revolutionary staking platform that brings together the most celebrated meme coins (except Floki!) in one place.
Holders of Pepe Coin, Dogecoin, Shiba Inu, Floki Inu, Based Brett, MogCoin, Milady, TurboToken, Toshi The Cat, Coq Inu, and BonkCoin can stake them on the platform and earn passive income in the form of $STARS with a rewards rate currently set at 1,561%.
To that end, the team has allocated 20% of the tokens for its presale; the other 25% is for presale staking, 20% for marketing, 10% CEX/DEX listing, and the rest 25% for the MemeVault Ecosystem.
This new meme coin project has gained so much popularity that its presale has already raised over $912,000 since its launch two weeks ago.
Following the purchase, you can begin staking for rewards and claim the tokens once the presale ends.
So, if you are an investor looking to put your money to work, Crypto All-Stars is a better meme coin than DogWIfHat’s $WIF.
Head to the website to buy $STARS with ETH, USDT, BNB, or even by card.
Follow them on social media – X (Twitter) | Telegram to stay up-to-date on all the developments.
Visit the Crypto All-Starz presale Website Here
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