Dogwifhat (WIF) has experienced a 14.35% price dip to $3.31 in a single day. However, the token remains 51% higher in value compared to a month ago.
If WIF manages to hold steady at the current support level, its price is projected to rebound to $4.2.
Meanwhile, the presale event for Algotech’s $ALGT token has raised $3.7 million so far, with the token being priced at 0.08 USDT.
Concerns Among WIF Investors Due to Significant Price Pullback
The recent price retracement of Dogwifhat (WIF) has caused uncertainty among investors in the token.
As WIF pulls back, investors are shifting focus to new crypto offerings like Algotech that are currently in their presale stages.
WIF Price Plummets 14% in a Day
Dogwifhat has faced a major downturn, with its price plunging 14% within a single day. This marks WIF’s largest single-day drop over the past week.
Currently, the token is trading at $3.31, showcasing a substantial decline from its peak of $4.8189 reached on March 31, 2024.
Despite this sudden pullback, WIF’s price point remains 51% higher than a month ago, highlighting its overall growth trend. However, investors are starting to worry about future fluctuations.
Mixed Predictions on Dogwifhat’s Price Forecast
There are conflicting outlooks regarding Dogwifhat’s (WIF) price prediction moving forward.
While the latest pullback has reduced optimism of the token reclaiming the $4 level soon, some analysts remain positive about its long-term trajectory.
As the broader crypto market experiences consolidation ahead of Bitcoin’s halving event, WIF has the potential to regain momentum and break past the $4 mark again.
According to analyst Pando, it’s only a matter of time before WIF trends upward again, especially as the RSI indicator approaches its lowest point.
My prediction is, starting tomorrow we will begin to see the rise of $WIF. NFA DYOR. But look at the 4hr graph with the RSI on. RSI starting to reach the bottom. pic.twitter.com/9216aJCXTl
— Pando on Solana (@PandoTrades) April 5, 2024
Per analyst Zer0’s take, if WIF manages to hold the $3.5 support, it could easily hit $4.2 in the near future. However, if selling pressure persists, the formerly popular Solana-based meme coin risks declining to around $2 over the next few days.
$WIF sitting in an interesting spot
Retesting previous breakout level
You want $3.5 to hold and get a MSB above $4.2 soon
Study low volume sell-off in price discovery
The hat stays on pic.twitter.com/7kLmbMATeC
— Zer0 🕊️ (@degengambleh) April 4, 2024
Concluding Thoughts As Dogwifhat (WIF) goes through the current retracement, investor confidence remains high for its long-term potential based on positive forecasts and market dynamics.
