Dogwifhat Price Drops 3% As This Meme Coin Index Raises $3.7M

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The Dogwifhat price has dropped 3% in the last 24 hours to trade at $0.6680 as of 12:30 a.m. EST on a 23% slump in trading volume to $207 million.

Dogwifhat Price Struggles At Key Support As Bearish Pressure Persists

The Dogwifhat price remains under significant bearish pressure, and has been locked in a downward channel since mid-December.

A major support zone around $0.65 is currently being tested, a level that has previously acted as a key floor for the price. If this support holds, WIF could see a short-term bounce, but a breakdown below this level could open the door for a move toward $0.50 or lower.

WIFUSDT Analysis Source: Tradingview

Dogwifhat Price Bulls Watch For A Potential Reversal

On the upside, resistance levels at $1.50–$1.60 remain critical, with a long-term resistance zone around $4.00 acting as a significant psychological level. The LuxAlgo Trendlines with Breaks indicator identifies resistance at $2.55 and support at $2.45, suggesting that reclaiming those levels could signal a reversal.

The Relative Strength Index (RSI) is at 31.97, nearing the oversold threshold of 30. Historically, an RSI near these levels has led to short-term bounces, making this an area to watch for potential recovery. However, the RSI alone does not confirm a reversal, and must be supported by increased buying volume and a breakout above the bearish channel.

For a shift in sentiment, the Dogwifhat price would need to break above the bearish channel, ideally reclaiming $1.00 as support. A move past this point could fuel further upside toward $1.50–$2.00. However, if selling pressure continues and WIF falls below $0.60, further losses could follow.

Meme Index Presale Heads For $4 Million – Next Crypto To Explode?

As the Dogwifhat price struggles to secure a bullish reversal, the Meme Index (MEMEX) presale continues to gain traction, surpassing $3.7 million in early-stage funding.

With meme coin search volume hitting an all-time high while prices remain near recent lows, the market appears primed for a major rally. This setup suggests a strong buying opportunity could be on the horizon.

ALERT : This is the FIRST meme INDEX on the market $MEMEX Presale has 17 hours left, and already has raised $2.8M Popular meme coins like $DOGE $PEPE $WIF $SHIB & many more, even great potential coins!!! What a great idea join in on their link @memecoin_index pic.twitter.com/cPsxgNXjs7

— Exoticz (@YhwExoticz) January 23, 2025

MEMEX, a decentralized platform, helps investors navigate the meme coin space by offering four meme coin-centric indexes that each come with a different level of risk. These are the Meme Titan, Meme Moonshot, Meme Midcap, and Meme Frenzy indexes.

The Meme Titan index includes established meme coins like Dogecoin and Shiba Inu, with market caps over $1 billion, making it a more stable option. Meanwhile, the Meme Moonshot index focuses on emerging meme coins with the potential to break into the top ten, offering moderate risk and strong growth potential.

For those looking to invest in mid-sized meme coins, the Meme Midcap index tracks meme coins with market caps between $50 million and $250 million, known for their higher volatility. Lastly, high-risk traders can explore the Meme Frenzy index, which features highly volatile meme coins that tend to experience rapid price swings and offer the potential for big rewards.

The platform’s native token, MEMEX, is a utility and governance token. Tokens holders can participate in on-chain governance, influence platform upgrades, index compositions, as well as have a say in future developments. Popular YouTuber ClayBro, with over 135k subscribers, predicts that MEMEX could surge 26X after launch.

Those who buy MEMEX during the presale can also stake their tokens immediately and earn rewards, with an APY of 612% before MEMEX gets listed on exchanges.

MEMEX tokens are priced at $0.0162933 right now and can be purchased using ETH, USDT, BNB, or a bank card. Interested investors should buy before a presale price hike in less than 2 days.

Buy MEMEX tokens on the official website here.

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