Is DogWifHat About to Crash? WIF Drops 10% as Investors Flock to Emerging GambleFi Project — $500,000 Raised Already
The price of the DogWifHat (WIF) coin dropped 10% in 24 hours as investors are flocking to GambleFi.
Since the GambleFi project Dicegame’s launch, it has already surged over $500,000 and continues to grow rapidly.
The price of WIF has experienced several ups and downs in the past few hours, but it has finally settled at approximately $2.94 for the past five hours.
Interestingly, the current market trends suggest that the price may start to rise, indicating a possible bullish trend shortly.
There has been a noticeable decline in the market trend in the 4H timeframe as traders are selling their assets in response to the rising popularity of GambleFi.
However, the WIF price has ended its downward trend, due to breaking through the line.
Based on the current data, the simple moving average (10) and exponential moving average (50) both suggest a buy signal.
In addition, the majority of the other moving averages also indicate a buy signal, outweighing the sell signals.
Top memecoins Dogecoin (DOGE) and its top competitor Shiba Inu have also dropped an average of around 7%.
Should DOGE break its current pattern, it could either return to recent lows near $0.13 or rally towards March highs near $0.23.
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