As DogWifHat’s price collapses in a complete meme coin bloodbath, smart money meme coin traders are rotating profits rapidly into an emerging meme coin layer-2 that has already raised $6.7m.
In this article, dive into WIF price trends and discover how this new layer-2 meme coin ecosystem could change the meme coin paradigm this Autumn.
Damn $WIF looks poopoo
Broke market structure to the upside, but then just nuked straight through supports + fib levels
Trip untapped lows below…. sigh
Reclaim some levels or take out the lows? Ur guess is as good as mine
Guess I'll just bag hold it and hope for the best pic.twitter.com/zgdb2fcZox
— CRG (@MacroCRG) August 2, 2024
In what many are branding a capitulation move, the DogWifHat price has seen a huge rejection from a failed breakout turned exit rally, which has led to a complete breakdown in chart structure.
WIF Price Analysis: As DogWifHat Tumbles – Is It All Over For The Once Loved Solana Meme Coin?
WIF price has entered calamitous territory as price action continues to tumble. Consequently, DogWifHat is currently trading at a market price of $1.90 (representing a 24-hour change of -3.06%).
This comes after a pained rejection saw WIF holder’s hopes crushed when a promising breakout move stalled around a layer of resistance between $2.80-$2.95.
With holder bank confidence shaken, double-barreled rejection saw price drop into a cascade – with WIF notably losing key support from both the 20DMA (which remains at $2.35) and the psychological level at $2.
So far, the multi-day tumble has seen the WIF price bleed out a dramatic -33%, a move no doubt exacerbated by a wider downturn across the meme coin vertical.
But while a glimmer of hope can be found in the RSI indicator, which shows that the WIF price significantly cooled off at an enviable 38.77, the devastation of this downside must not be understated – the WIF price structure has been damaged severely by this failed breakout, and holders are in anxiety.
For this reason, many eagle-eyed meme coin traders are broadening their horizons and seeking high-risk, high-reward opportunities to maximize their gains despite WIF downside.
Meme Coin Trader’s Choice for August: Pepe Unchained (PEPU) Is a Good Buy
Emerging in a sea of shitcoins, Pepe Unchained has cut through the noise and began making a significant name for itself.
Via its wildly successful PEPU presale, which has so far raised an astronomical $6.7m from eagle-eyed investors, Pepe Unchained is positioning itself as one of the most anticipated August DEX launches.
Behind the frog-faced meme value of this brand-new project lays a surprisingly smart and strategic innovation.
The Pepe community, which took the world by storm in 2023, is being saved from the depths of ERC-20 purgatory with the much-needed launch of a dedicated layer-2 blockchain designated for frog coin developers.
That’s right – you heard it here first: Pepe is getting its own layer-2 blockchain.
With that said? Do I really need to say more?
This is an obvious pick for one of the most high-potential meme coin launches in August, especially with an alluring staking APY of 283%.
Everyone is encouraged to conduct their own research and explore this hidden gem.
To stay current with the latest project news and updates, follow Pepe Unchained on X and join the Telegram.
You don’t want to miss this opportunity to learn more about PEPU and grab a stack of Pepe Unchained.
The post Dogwifhat Collapses in Meme Coin Bloodbath, New Rival Raises $6.7 Million appeared first on Cryptonews.
#IndustryTalk #DogWifHat #Solanamemecoin #WIF [Source: CryptoNews]