Is DogWifHat Token in Trouble? WIF Drops Below $2 As Competing Rival Gains Attention
Renowned meme coin DogWifHat ($WIF) is making a recovery today following a dip below the critical $2 support level yesterday.
The token hit a low of $1.93 yesterday evening before rebounding to its current value of $2.04. The current price represents a 3.6% decrease in the last 24 hours and a 22.6% drop over the past seven days.
DogWifHat was the only one among the five largest canine-themed meme coins to experience losses overnight. In contrast, the market leader and original meme coin, Dogecoin ($DOGE), grew by 3% in the last 24 hours but fell by 11% over the last seven days.
The other popular dog coins—Shiba Inu ($SHIB), Bonk ($BONK), and Floki ($FLOKI)—all saw increases alongside Dogecoin overnight, although all of them incurred heavier losses over the past seven days compared to the OG meme coin DOGE.
Floki experienced the most significant crash, dropping by a staggering 29% over the week to reach $0.0001718 at the time of writing.
The leading cryptocurrency in the market, Bitcoin ($BTC), which typically sets the tone for the rest of the market, remains at a similar price to 24 hours ago, at $65,314. This represents a 3.4% decrease over the week.
DogWifHat is currently underperforming compared to its trajectory over the last three months.
The WIF chart illustrates a sustained drop below its critical support level of $2.20 (green line). While the token briefly surpassed the key $3.50 resistance level (red line) to reach $4 on May 29, it has since plummeted by 49%.
Crypto Investors Disregard DogWifHat’s Decline to Embrace AI Trading Bot Meme Coin WienerAI
The overall poor performance of Shiba Inu-themed meme coins this week highlights the volatility issue across the sector. Meme coins are the most speculative aspect of an already highly speculative industry. For them to have a chance of achieving global adoption alongside Bitcoin and Ethereum, they need to have solid fundamentals.
As a result, a new generation of coins such as ScottytheAI and WienerAI are doing something that no other meme projects are doing at the moment: integrating artificial intelligence to simplify the lives of their holders.
At first glance, WienerAI may seem like just another dog-themed meme coin, but it offers much more than that. It is a next-generation crypto project that utilizes viral marketing strategies to provide crypto enthusiasts with a high-value proposition: the most advanced, user-friendly AI trading bot in crypto.
The presale is entering its third month and has already raised a substantial $6 million in investments.
Market as a “Revolutionary AI Trading partner,” WienerAI ($WAI) is a digital companion that offers its owners user-friendly AI-enhanced trading advice, seamless swap functionality, and zero fees.
Furthermore, Blockchain security platform Coinsult has audited WienerAI’s smart contract. Around 20% of $WAI’s supply is dedicated to staking.
WienerAI’s website allows buyers to stake during the presale to take advantage of the current 190% APY yield. This makes $WAI a much more inherently valuable meme coin than DogWifHat.
The token is currently available at a fixed presale price of $0.00072 on the website. Interested investors have just over two days to buy in before the price increases. Once the presale concludes, the potential for appreciation is limitless.
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