Dogwifhat price has seen a remarkable surge of 12% over the last 24 hours, coinciding with an overall rise in meme cryptocurrencies, reaching a market capitalization of $51 billion.
Current Dynamics of Dogwifhat
The Dogwifhat price began its steady ascent from September 23, when bulls took advantage of the $1.61 support level. This allowed the token to approach the next resistance at $2.57. Recent developments have formed a bullish flag pattern, with the price appearing to rebound from the lower boundary of the flag.
WIF/USDT Chart Analysis
The WIF/USDT chart analysis on the 4-hour timeframe shows a bullish trend in Dogwifhat. If this trend continues, the price might break above the flag's upper boundary, targeting $2.73. Otherwise, there could be a drop to the $2.0 support level currently acting as a cushion against a further correction.
Development of Crypto All-Stars
While Dogwifhat's price strengthens, the cryptocurrency Crypto All-Stars (STARS) has raised over $2 million in its presale. The project aims to revolutionize the meme coin space with its MemeVault Ecosystem, allowing investors to stake multiple meme coins on one platform. Eleven meme coins will be available for staking at launch.
The price increase in Dogwifhat reflects a broader revival in the meme cryptocurrency sector, providing hope for future price appreciation.