The Dogwifhat Price Continues To Drop
The price of Dogwifhat has fallen by over 20% in the last 24 hours, bringing it to $0.07896 in early morning trading. After the price dipped to $0.0655, it rebounded slightly, leading some investors to view this as a buying opportunity given the attempt to reclaim the $0.08 support level.
Reclaiming Support Could Lead to a Bullish Move
Investors could push the price to $0.1015 if a 4-hour candle closes above the $0.08 level in the next 8 hours. If bulls continue to lift the price, the altcoin could soar as high as $0.1445. However, failure to close a 4-hour candle above $0.08 within the next 12 hours could lead to a retest of the low at $0.0655.
Dogwifhat Price May Receive A Boost Soon
Technical indicators suggest that a bullish trend is on the horizon. The Moving Average Convergence Divergence (MACD) is slightly bullish and the Relative Strength Index (RSI) is inching toward its Simple Moving Average (SMA) line.
Price Surge Driven by Transition from Sponge V1 to V2
Sponge V2 has surged by over 100% in the last week following the much-anticipated transition from V1 to V2. Sponge V2 is poised to mimic the 100x gains seen in PEPE Coin, making it an attractive investment for those who missed out on Sponge V1’s gains.
Investors Are Rushing To Stake Their Tokens
Token holders can benefit from a 377% APY by staking their tokens, and more than 4.2 million Sponge V1 tokens have already been staked. This growing interest suggests that investors are confident in the future of Sponge V2.
Building Off Of Sponge V1’s Success
Sponge V2 will be listed on enhanced exchanges and will include a racer-style game, which is likely to drive further interest in the coin. The rapid expansion of the community could result in a surge in the Sponge V2 price in the coming weeks.
Hot Take
Overall, the dogwifhat price is fluctuating, based on recent developments. The new Sponge V2 coin is showing a lot of promise, and its price could soon surge based on positive technical indicators and growing demand.
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