$WIF Price Crumbles to $1.70 As Investors Flock to New Dogz Alternative
The price of popular Solana meme coin DogWifHat ($WIF) has gone spiralling under $1.70 after shedding 12% in the last 24 hours amidst a wider market pullback.
However, the picture is not so bleak for $WIF holders considering the 7% price appreciation over the last seven days. This makes $WIF the second best performing top five meme coin over the week, after fellow Shiba Inu-themed coin Floki ($FLOKI), which added a staggering 23.4% over the week to trade at $0.0001535.
Market leaders Bitcoin ($BTC) and Ethereum ($ETH) are both down from their prices 24 hours ago. Bitcoin shed 2.2% while Ethereum lost 4.2%. The former grew 3.2% in the last seven days, while the latter shed just less than a percent.
The world’s favourite cryptocurrency $BTC currently trades at $62,413, while the $ETH token underpinning the most commercially important blockchain trades at $2,622.
Generally speaking, it was a long night for meme coin holders. Dogecoin ($DOGE) lost 3.2% to trade at $0.104, while Pepe ($PEPE), the largest non-doge meme coin, dropped 7.7% down to $0.00000824.
Over on DogWifHat’s price chart, we can see the meme coin hovering above the psychologically important $1.50 support level it maintained throughout June and July.
The market crash in early August appears to have dragged overall support down, as highlighted by the diagonal green line.
$WIF’s current relative strength index (RSI) of 27 indicates the asset is now oversold, so its price is likely to stabilize going into tomorrow as the selling cools off.
Nowadays, the fate of DogWifHat is tied closely to the “Big Five” doge-themed coins: Dogecoin, Shiba Inu, DogWifHat, Floki, and Bonk.
Meme coin fans wanting to explore some potentially headier upside could diversify their
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