The meme coin Dogwifhat ($WIF) price recently increased by over 7% in the past 24 hours. However, on the weekly chart, it remains down by 4%. Let's explore the reasons behind this surge and the potential future directions.
Dogwifhat Price Surge
The Dogwifhat price increased significantly by 7% in the last day, reaching $0.5951. However, over the weekly period, it's still down by 4%. On the 4-hour chart, Dogwifhat continues to show upward trends, attempting to overcome the resistance level at $0.6156.
Technical Analysis
Technical indicators on the Dogwifhat 4-hour chart suggest further potential growth. The MACD line has crossed above the MACD Signal line, indicating the start of a positive trend. RSI has also risen above 50, indicating dominant buying activity.
Solaxy and its Impact on Solana
With Solana network congestion, Solaxy is launching its first layer-2 scaling solution. Solaxy uses rollups technology to relieve pressure on Solana's mainnet, potentially improving fast transaction processing and maintaining ecosystem resilience. Investors are actively participating in Solaxy's presale, with investments already exceeding $23.7 million.
With a rise of over 7%, Dogwifhat shows potentially stable dynamics supported by technical indicators. Against this backdrop, investors are particularly interested in Solaxy, which could play a significant role in the development of the entire Solana ecosystem.
