Schlagwort: blockchain analysis

• Dogwihat’s all-time high of $4.85 was hit in March 2024.
• 2025 price forecasts range from $1.17 to $3.65.
• Solana ecosystem interest helps boost WIF’s appeal.

Dogwifhat (WIF), a meme coin operating on the Solana blockchain, is regaining traction after a seven-day rally that pushed its price up by more than 20%.

Currently trading at $0.92322, WIF has seen renewed interest from retail traders and meme coin enthusiasts, helping it reach a market capitalisation of $931.21 million.

The token now ranks 75th among all cryptocurrencies by market cap.

The gains follow a relatively quiet period after WIF hit its all-time high of $4.85 on 31 March 2024.

The coin’s lowest recorded price was $0.00002344, in November 21, 2023.

With this recent surge, WIF is once again being discussed as a possible contender for further upside if the anticipated altcoin season materialises later this year.

Market data shows rising investor confidence

WIF’s current circulating supply is 998.84 million tokens, with a trading volume of $729.81 million.

These figures suggest high liquidity and increasing trading interest in the asset.

The price movement has occurred in tandem with a broader rally in Solana-based assets, many of which have benefited from growing interest in the Solana ecosystem as a faster, cheaper alternative to Ethereum for hosting tokens and dApps.

The surge has sparked renewed debate in the cryptocurrency space about whether meme coins, particularly those backed by active communities and high trading volumes, can hold long-term value or are simply speculative assets.

While Dogwifhat lacks utility-based features seen in some DeFi or Layer 2 tokens, its recent growth underscores the continued demand for meme coins.

Forecasts vary between $1.17 and $3.65 for 2025

According to projections, Dogwifhat could reach an annual high of $3.65 in 2025, if bullish sentiment in the crypto market continues and regulatory risks remain low.

On the downside, analysts suggest that the token could fall to $1.17 under adverse conditions, such as a market correction or the introduction of stricter crypto regulations.

The expected average price for WIF in 2025 is around $2.41, although this remains speculative and highly dependent on broader market trends, sentiment, and the performance of other Solana-based assets.

Much of the optimism is tied to the potential for another altcoin season, during which meme coins tend to outperform, particularly in high-liquidity trading environments.

Community-driven tokens continue to influence the market

Dogwifhat’s market performance highlights the growing role of community-driven tokens in shaping cryptocurrency price movements.

Meme coins like WIF often gain momentum based on social media attention, trading volume surges, and listing on popular exchanges.

Their volatility, while high, is increasingly being seen as a feature rather than a bug by retail traders who prefer high-risk, high-reward opportunities.

The rise of Dogwifhat also reflects the influence of the Solana ecosystem, which has seen increased adoption due to its low transaction fees and high throughput.

WIF’s gains parallel a broader trend of Solana-based tokens outperforming the market during short-term rallies, often fueled by speculative enthusiasm and the network’s growing developer community.

The post Dogwifhat up 20% in 7 days as Solana meme coin regains momentum appeared first on CoinJournal.

Key takeaways

• Ether is up by more than 6% in the last 24 hours and briefly hit the $2,600 mark.
• The cryptocurrency could rally towards $2,900 amid strong technicals.

ETH surges 6% to hit $2,600

Ether (ETH), the second-largest cryptocurrency by market cap, is one of the top performers among the top 10 cryptocurrencies. The coin added more than 6% to its value in the last 24 hours and now trades at $2,598 per coin.

The positive performance comes amid a strong recovery by the broader crypto market. Bitcoin is heading towards the $110k mark after adding 3% to its value. Dogecoin and Cardano are also up 7% and 6% respectively in the last 24 hours, while XRP, TRX, and BNB are also in the green.

Ether’s rally can be attributed to increasing interest from institutional investors. Data obtained from Glassnode shows that 106,000 ETH coins flowed into spot Ether exchange-traded funds (ETFs) last week, indicating strong institutional demand.

ETH could rally towards $2,900 soon

The ETH/USD 4-hour chart is bullish but inefficient, suggesting that there is a transfer of money about to take place on the lower timeframe. The technical indicators are bullish, suggesting buying pressure on Ether.

The coin has been trading between the 50-day simple moving average (SMA) ($2,528) and the horizontal support at $2,323 in the last few days. Both MACD lines are within the positive region, suggesting a strong bullish bias. Furthermore, the RSI of 66 shows that ETH is currently entering the overbought zone.

Ether could likely dip to $2,530 to become efficient on the 4-hour timeframe, allowing it to rally higher. If the bulls remain in control, Ether could rally towards the first major resistance level at $2,738. The coin could test the next major resistance level at $2,879 if the bullish bias extends longer.

However, if the bulls become exhausted before hitting any of the above-mentioned levels, the bears will try to pull the pair below the $2,323 support. Failure to defend this level could see the pair plunge to the next major support level at $2,111.

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Key takeaways

• Bitcoin is down 1.5% in the last 24 hours and now trades below $106k.
• The leading cryptocurrency by market cap risks dropping to $100k after failing to hold key support levels. 

The cryptocurrency market is having a poor start to the week, with Bitcoin relinquishing some of the gains it recorded last week. The world’s leading cryptocurrency by market cap has lost 1.5% of its value in the last 24 hours and now trades below $106k.

At press time, the price of Bitcoin stands at $105,503 and could drop further if the bearish trend continues. BTC dropped to the $105,250 region on Tuesday, failing to hold a key support level at $105,800.

With the bears currently in control, Bitcoin’s price could slip further in the coming hours or days. 

Bitcoin price forecast: $100K in sight for BTC amid selling pressure

The BTC/USD 4-hour chart is currently bearish but inefficient, indicating that sellers could likely sweep liquidity to the upside before Bitcoin’s price dips lower. The technical indicators on the 4H chart are bearish, suggesting selling pressure on the cryptocurrency.

The MACD lines have crossed into the negative zone, indicating that there are more sellers than buyers. Furthermore, the RSI of 46 shows that BTC has a weak buying pressure at the moment.

If the price slips and sustains below the moving averages, the BTC/USD pair could drop to the next major support level at $104,500. Failure to maintain this support level could see BTC test $100k for the first time since June 23rd. 

However, the bearish setup will be invalidated if BTC rebounds and crosses the EPA (Efficient Price Action) level at $106,719 and rallies higher. Any 

Any move above the Inducement Liquidity (ILQ) at $107,866 could see Bitcoin rally towards $109k once again.

The post BTC risks dropping to $100k as it slips below key support levels appeared first on CoinJournal.

Key takeaways

• Fartcoin is up 5% in the last 24 hours and now trades at $1.01 per coin.
• The memecoin remains bearish despite its recent rally.

Fartcoins and other leading memecoins remain bearish

The broader cryptocurrency market is recovering from the recent bearish trend caused by the Middle East conflict. Bitcoin, Ether, XRP, and other major cryptocurrencies all recorded excellent gains this week.

However, the memecoin narrative in the broader crypto market remains negative, with most memecoins still in the red. Fartcoin, Dogecoin, Shiba Inu, and Pepe all recorded losses over the last seven days.

Fartcoin has crossed the $1 mark after adding 5% to its value in the last 24 hours. However, the medium-term outlook for the memecoin remains bearish its trading volume continues to decline. This suggests that Fartcoin could face further selling pressure over the coming days and weeks.

FARTCOIN to retest the $0.80 support level

The FARTCOIN/USD 4-hour chart is bearish despite the coin’s recent positive performance. The positive rally can be seen as Fartcoin moving towards the TLQ at $1.109, mitigating the liquidity zone before dipping.

Earlier this week, a death cross pattern formed when the 50-period EMA crossed below the 100-period EMA, implying bearish dominance and likely keeping FARTCOIN weighed down toward the next key support area.

If the bearish trend resumes, Fartcoin could retest the $0.80 support level for the second time this week. A break below this level could see Fartcoin hit the next key support level at $0.71. 

The MACD lines are now negative, while the RSI of 54 shows resistance from the buyers. The indicators are currently bearish and suggest that FARTCOIN could drop further.

However, a reversal is possible, supported by the broader cryptocurrency market. If FARTCOIN swings above the 50 midline, the bulls could regain firm control of the market, paving the way for gains past the $1.25 resistance tested on June 17.

The post Fartcoin remains bearish despite hitting $1; Check forecast appeared first on CoinJournal.

Key takeaways

• SEI has reclaimed the $0.30 psychological level, paving the way for further rally.
• The positive performance comes despite Bitcoin and other major cryptocurrencies recording losses.

SEI rallies as BTC and others falter

SEI, the 47th-largest cryptocurrency by market cap, is one of the best performers in the top 100 over the last 24 hours. The coin added 5% to its value during that period, allowing it to reclaim the $0.30 mark.

The positive performance comes despite Bitcoin, Ether, XRP, and other major cryptocurrencies recording losses. Bitcoin failed to build on its earlier momentum and now looks set to drop below $106k soon.

SEI’s rally comes after the coin added 80% to its value last week. With the bulls still in control, the coin could resume its upward rally soon and set a new 6-month high. 

SEI could rally to $0.430

The SEI/USD 4-hour chart is bullish and efficient, indicating a bullish bias for the cryptocurrency. The efficiency shows that the market has swept liquidity to the downside and could likely rally higher in the short term.

The pair has an RSI of 60, showing that SEI is currently facing buying pressure from investors. Meanwhile, the MACD lines have also crossed into positive territory and read 0.0108, also suggesting that buyers are in control.

With the bullish trend now resuming, SEI could target the first major resistance level at $0.3516. An extended rally would allow SEI to hit the $0.430 level for the first time since January 2025. However, this rally would likely depend on the broader crypto market and how Bitcoin’s price action plays out.

There is still a chance that the market could turn bearish. Any bearish price action could see SEI retest the $0.24 low. An extended bearish run would see SEI hit the Transactional Liquidity (TLQ) around $0.19. However, the bulls have defended this level vigorously over the past few weeks.

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