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Stupid Dogwifhat Memecoin Is As Much Expensive As Crypto Company C… | EVM News
![](https://coinchapter.com/wp-content/uploads/2024/03/dc3569f29420bdb0c46a94545864a549.gif)
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NOIDA (CoinChapter.com)—Memecoins rely on social media hype for their price action, and there is no greater example of this axiom than Dogwifhat (WIF) crypto. Due to recent gains, the Dogwifhat token, another in a long line of dog-themed digital assets, has become the fourth largest memecoin by market cap. As stupid as it may sound, crypto company Circle’s worth is around the same.
Dogwifhat now has a market cap of nearly $2.9 billion, surpassing Monero (XMR), Arbitrum (ARB), and Floki (FLOKI). Overall, the token currently ranks 47th in terms of market cap, marking Dogwifhat’s entry into the top 50 cryptocurrencies.
It is surprising to see WIF’s meteoric rise of 2,228% since launch, especially for a project that defines itself as “Bro! It’s literally a dog wif [with] a hat.“
However, the memecoin’s recent antics make sure that no one (at least in Las Vegas) can say they did not see that coming.
There Is A Dogwifhat On The Las Vegas Sphere
So here’s what happened: A group of Dogwifhat supporters launched a campaign to raise $650,000 for one week of advertising the memecoin on the Sphere, Las Vegas’s recently launched spherical event venue.
![Dogwifhat gains](https://coinchapter.com/wp-content/uploads/2024/03/image-133-1024x682.png)
The Solana-based memecoin’s marketing campaign attracted contributions ranging from $1 to $100. Moreover, two major donors have contributed over $9,999 each to the campaign.
At the time of writing, the memecoin’s fundraising campaign had attracted over $701,500 in USDC contributions in under four days. The resulting hype helped secure major gains for the Dogwifhat crypto, propelling the WIF price to a new ATH on March 14.
![Dogwifhat gains](https://coinchapter.com/wp-content/uploads/2024/03/image-134.png)
However, not everyone was excited about the campaign. A crypto trader with the username BoldLeonidas claimed that the marketing campaign was a market-top signal. Leonidas’s claim stems from crypto history.
During the previous bull cycle, crypto firms engaged in aggressive marketing campaigns just before the market crashed.
Moreover, to favor the skeptics, it is possible that the campaign turns out to be spam, with organizers running off with the funds. If it happens, Dogwifhat would likely purge all its gains as a FUD-induced selloff ensues.
For now, everyone is waiting for the Las Vegas Sphere to picture a Shiba Inu dog wearing a hat, woven or otherwise.
WIF Price Charts New ATH
Meanwhile, WIF price used the hype to break out of the ‘ascending channel‘ pattern on March 14, charting an ATH near $3. Moreover, the price rally means Dogwifhat is one of the very few, if not the only, memecoin to trade with a price label that is not in decimals.
Its predecessors, Dogecoin and Shiba Inu, are still miles away from the $1 price mark.
If the rally continues, the WIF crypto price could find resistance near the 0.618 Fibonacci level around $3.34. However, flipping the immediate resistance could help the memecoin rally to the resistance near $4.3.
The relative strength index (RSI) for WIF remains overbought, clocking a value of 90.88 on the daily charts. The RSI is a momentum indicator that measures asset price movements to identify overbought or oversold conditions.
Traders often consider an overbought RSI level a bearish signal since the occurrence usually precedes a bearish reversal or consolidation phase for the underlying token.
Besides, it is likely that early participants will start booking profits. Hence, the WIF price could plummet to the 0.382 FIB support near $2.1. Breaching this immediate support could force the Dogwifhat token price to test the support near $1.28 before recovering.
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Binance Executive’s Trial Resumes July 5 as Family Cites Health Is… | EVM News
![](https://coinchapter.com/wp-content/uploads/2024/07/Screenshot-2024-07-04-004528-1024x633.png)
![](https://coinchapter.com/wp-content/uploads/2024/07/Screenshot-2024-07-04-004528-1024x633.png)
Key Takeaways
- Health Concerns: Tigran Gambaryan’s health has worsened during his 128-day detention. He is suffering from double pneumonia, malaria, and aches.
- Family and U.S. Advocacy: Gambaryan’s family is concerned about his health. U.S. officials are increasingly involved and they are urging for his release on humanitarian grounds.
- Legal and Public Response: The legal team completed a key cross-examination. A petition for Gambaryan’s release has gained 4,881 signatures.
YEREVAN (CoinChapter.com) — The trial against Binance executives Tigran Gambaryan and Nadeem Anjarwalla is set to resume on July 5. Nigeria’s Economic and Financial Crimes Commission (EFCC) is pressing money laundering charges. Notably, Gambaryan has been detained since February, while Anjarwalla reportedly fled to Kenya in March.
During his 128-day detention, Gambaryan’s health has worsened. Primarily, he has suffered from double pneumonia, malaria, and ongoing aches and pains. This has raised concerns about his ability to endure the trial.
Family and U.S. Officials Advocate for Binance Executive Facing Health Issues and Legal Battle
Moreover, Gambaryan’s family is worried about his health and the slow response from authorities. A family spokesperson mentioned that Gambaryan’s legal team completed their cross-examination of an EFCC witness on July 2. His wife, Yuki, shared her frustrations, noting increased engagement from the U.S. government recently.
Yuki has been in regular contact with U.S. State Department officials and the U.S. Embassy in Abuja. As well, she believes any disputes between Binance and Nigerian authorities should not involve her husband.
“I thought the U.S. Government response was quite slow at first, especially considering that Tigran used to work for the U.S. Government,”
said Yuki
“However, I believe they have noticeably increased their efforts and engagement recently […] In my eyes, it is evident any issues between Binance and the Nigerian authorities can and should be resolved without Tigran being caught in the middle.”
Notably, U.S. officials have been involved in the case. Representatives French Hill and Chrissy Houlahan visited Gambaryan in Kuje Prison on June 20. They are urging Nigerian authorities to drop the charges on humanitarian grounds.
Petition to Free Binance Exec Gains Support as Criticism Grows
Yuki Gambaryan launched a petition to bring her husband back to the U.S., which has received 4,881 signatures so far. The petition aims to reach 5,000 signatures and will be presented to the U.S. State Department, President Joe Biden, the EFCC, and the Nigerian government.
Globally, the case has attracted widespread attention. Above all, many argue that it is unfair to hold two executives accountable for company actions during a voluntary visit to Nigeria.
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Band Protocol Price Eyes 276% Jump As Bullish Wedge Pattern Emerge… | EVM News
![](https://coinchapter.com/wp-content/uploads/2024/07/image-68-1024x516.png)
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NOIDA (CoinChapter.com)—Band Protocol (BAND) made significant advances in the crypto sector, and recent developments highlight the project’s commitment to expanding.
Unconfirmed social media posts suggest that Synthetix could be working on integrating Band Protocol. If true, partnership news could help BAND price confirm a bullish technical pattern.
BAND Price Formed Bullish Pattern
The Band Protocol token formed a bullish technical pattern called the ‘falling wedge.’
Bullish news, such as Bond Protocol’s making a new partnership or integrating with other projects, could help the project’s token confirm the pattern.
A falling wedge pattern features a pair of converging trend lines connecting lower highs and lower lows, forming a narrowing shape that slopes downward.
The pattern typically suggests that an asset’s price, while consolidating in a downtrend, is losing bearish momentum and preparing for a potential reversal to the upside. Typically, a breakout occurs in the direction of the overall trend, which, for a falling wedge, is upward.
To estimate the price target of a falling wedge pattern, traders measure the widest part of the wedge at the beginning of the formation. They then project this distance upward from the breakout point to set a potential target.
An accompanying increase in trading volume can further confirm the reliability of the breakout. Higher volume during the breakout suggests stronger market conviction, supporting the likelihood of a successful price reversal.
According to the rules of technical analysis, the Band Protocol token price could rally over 276% to reach the pattern’s theoretical price target near $4.6.
It is unlikely the token would rally to the projected price target immediately after confirming the pattern, but breaking out of the wedge setup could attract more buying pressure, helping the token continue its rally till profit booking puts the brakes on the run.
BAND Bulls Struggling With 20-Day EMA
BAND price climbed above its 20-day EMA (red wave) dynamic resistance as the token entered July. However, July 3’s nearly 6% drop forced the token’s price back below the EMA resistance, suggesting bears aggressively defend the supply zone near the 20-day EMA.
![Band Protocol price](https://coinchapter.com/wp-content/uploads/2024/07/image-70-1024x515.png)
Bulls have their task cut out, with the token starting July 4 with minor gains. Flipping the EMA resistance with good volumes would certainly help the BAND price’s cause, helping the token rally to the resistance near $1.34.
A break above immediate resistance might see the Band Protocol token’s price target the 100-day EMA (blue wave) resistance near $1.5.
On the other hand, if BAND price fails to rally, the token could drop to the support levels near $1.14 and $1.05 before recovering.
The RSI for BAND remained neutral, with a score of 45.56 on the daily charts.
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Litecoin Price Tests Critical Support: Will the Bulls Prevail? | EVM News
![](https://coinchapter.com/wp-content/uploads/2024/07/image-59-1024x516.png)
![](https://coinchapter.com/wp-content/uploads/2024/07/image-59-1024x516.png)
NOIDA (CoinChapter.com)— Litecoin price ended June down by nearly 1
0%, and so far, July has not been very kind to the blockchain platform. LTC bulls have failed to convert a recent surge in network activity into a bullish cue for the token.
However, a technical setup might help avoid LTC price more bloodshed, if the bulls manage to avoid invalidating the pattern.
Litecoin Price Testing Support Of Bullish Setup
The Litecoin token’s price has formed a bullish technical setup called the ‘ascending triangle.‘
The token’s price are currently testing the ascending trendline of the pattern. A rebound from here could infuse confidence in the token’s rally, attracting more buyers expecting a bullish breakout.
Under technical analysis, an ascending triangle pattern emerges when a horizontal trendline connects swing highs and an ascending trendline connects swing lows. The pattern indicates a consolidation period where the buyers gradually gain strength against a consistent level of resistance.
Volume analysis is critical, as it helps to validate the breakout’s strength. Typically, as the price action approaches the triangle’s apex, the volume tends to decrease, reflecting a period of reduced trading activity and uncertainty.
When the trendlines converge, creating a narrowing price range, buyers often enter the market in anticipation of a breakout. Ideally, the breakout occurs above the horizontal resistance line, accompanied by a significant increase in trading volume.
The surge in volume is a key indicator that the breakout is robust and likely to sustain.
According to the rules of technical analysis, the price target for a breakout is equal to the triangle’s height at its thickest point. If the bullish pattern pans out, the theoretical price target for LINK is near $269.5, a spike of 267% from current levels.
LTC price Fails To Conquer EMA Resistance
Litecoin price has failed to move above the 20-day EMA (red wave) dynamic resistance since June 8, with prices dropping nearly 6% to a daily low near $72 on July 3. The downtrend suggests bears are booking profits near $72.
![Litecoin price](https://coinchapter.com/wp-content/uploads/2024/07/image-60-1024x516.png)
A sustained rally from here would likely see Litecoin price rally to the 50-day EMA (purple) resistance near $78. Moreover, flipping the above immediate resistance level could help LTC price rise to the resistance near $85.
On the other hand, if prices continue to fall, Litecoin could end up invalidating the pattern, inviting more bearish sentiment and likely ending up at the support level near $69. Failure of the immediate support could force LTC price to test the support near $63.8 before recovering.
The RSI for LTC remained neutral, with a score of 41.86 on the daily charts.
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