Dogwifhats Fate in Jeopardy as WIF Price Plummets Below 2 while AI Meme Coin Generates 72 Million in Funding

The Future of DogWifHat: Will it Survive? WIF Price Plummets Below $2 as AI Meme Coin Raises $7.2 Million


By Tim Hakki
Last updated:
July 8, 2024, 08:46 EDT
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2 min read
Solana
DogWifHat ($WIF), the popular meme coin, experienced a significant drop yesterday, falling below the crucial psychological support level of $2. Its current price stands at $1.73, reflecting a 7% overnight decline. The token hit a low of $1.58 earlier today before rebounding. Over the course of the past seven days, DogWifHat has seen a substantial drop of approximately 24%.
Among the top five canine-themed meme coins, DogWifHat was the only one to suffer overnight losses of more than 5%. Dogecoin ($DOGE), the market leader and original meme coin, experienced a 1.2% dip in the last 24 hours and a 13% drop over the past week. On the other hand, Shiba Inu ($SHIB) and Bonk ($BONK), two popular dog coins, actually saw gains overnight. $SHIB increased by 2.3% while $BONK rose by 5.2%. However, both coins experienced losses of 3% and 1.2% respectively over the past seven days. Floki ($FLOKI), which closely tracks Dogecoin, fell by 1.4% overnight and 15% over the week, currently trading at $0.0001443.
Bitcoin ($BTC), the leading cryptocurrency, fell by 0.3% overnight and 8.7% over the past week, with a current price of $57,397. Ethereum ($ETH), its main competitor, saw a 1.3% increase in the last 24 hours but suffered a 12.3% decline in the past seven days, now priced at $3,050.
Analysis of DogWifHat Price
DogWifHat has been underperforming compared to its trajectory in the last three months.


Source: TradingView
The chart for $WIF indicates that the token faced new resistance after mid-June, struggling to reach $2.50. In May, the meme coin encountered resistance at $3.50 and found support at $2.50, but it is now hitting bottoms at $1.50, as shown by the green line. This signifies a decrease in support.
With a rising Relative Strength Index (RSI) of 48, there may be short-term stability, but if Bitcoin, the market leader, continues to experience losses, it is likely that DogWifHat’s price will depreciate further.
As DogWifHat’s price falters, crypto investors are turning to WienerAI, an AI trading bot meme coin.
Meme coins are already highly speculative, and when Bitcoin is performing poorly, meme coins like DogWifHat often suffer. In order for meme coins to withstand market downturns, they need to offer greater value propositions.
Enter WienerAI, a new generation meme coin that combines viral appeal with AI utility to potentially achieve exponential gains. While it may seem like just another dog-themed meme coin, WienerAI is much more than that. It is a cutting-edge crypto project that leverages viral marketing strategies to provide crypto enthusiasts with a high-value proposition: the most advanced and user-friendly AI trading bot in the crypto market.
During its four-month presale, WienerAI has already attracted $7.2 million in investments. Marketed as a “Revolutionary AI Trading partner,” WienerAI ($WAI) offers its owners AI-enhanced trading advice, seamless swap functionality, and zero fees. The smart contract of WienerAI has been audited by the blockchain security platform Coinsult. Additionally, around 20% of the $WAI supply is reserved for staking. Buyers can stake during the presale to take advantage of the current 158% APY (Annual Percentage Yield), making $WAI a more attractive option than DogWifHat.
The token is currently available for a fixed presale price of $0.000726 on the WienerAI website. Interested investors have a little over a day left to purchase before the price increases. Once the presale ends, the potential for appreciation is unlimited.
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Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes only and does not constitute investment advice. There is a possibility of losing all of your capital.