The price of the Solana meme coin DogWifHat, $WIF, has dropped by 24% in the last seven days, making it the meme coin with the biggest intraweek losses among the top ten meme coins by market capitalization. Despite this drop, DogWifHat is currently priced at $1.46, which is virtually unchanged from 24 hours ago. Other Shiba Inu-themed coins such as Floki ($FLOKI) and Bonk ($BONK) also experienced losses, with Floki falling by 22.4% and trading at $0.0001195, and Bonk dropping by 18% to reach $0.00001715. In comparison, established coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB) only saw a 10% decrease in price over the week, with Dogecoin trading at $0.0975 and Shiba Inu at $0.00001355. Market leaders Bitcoin ($BTC) and Ethereum ($ETH) each dropped by around 8% during the same period, with $BTC priced at $58,535 and $ETH at $2,526.
Looking at the price analysis for DogWifHat on September 2, 2024, the meme coin is seen hovering above the crucial $1.50 support level that it maintained throughout the summer. The recent crypto crash on August 5 caused $WIF to plummet to $1.11, signaling a general decline in support. The price chart indicates stiffening resistance, as shown by the falling red line, along with a rising relative strength index (RSI) of 53, suggesting some buying momentum. If this momentum continues, $WIF may rebound in the short to mid-term, potentially reaching $2. However, any growth will heavily depend on a positive news cycle in the market. DogWifHat’s price tends to track Bitcoin’s price in a volatile manner, often experiencing the heaviest losses during market downturns.
The crash in the DogWifHat price has led meme coin enthusiasts to explore other opportunities in the crypto market, beyond the traditional meme coins. One such project gaining attention is Crypto All-Stars ($STARS), a unified staking platform for meme coin fans. This platform allows holders of various meme coins, excluding Floki, to stake their tokens and earn passive income in the form of $STARS, with a rewards rate currently set at 1,561%. The project has allocated tokens for presale, staking, marketing, listings, and ecosystem development, with the presale already raising over $912,000 within two weeks of its launch.
Investors interested in staking their meme coins for rewards and passive income may find Crypto All-Stars a better investment option than DogWifHat’s $WIF. By purchasing $STARS, investors can stake their tokens and claim rewards once the presale ends. The platform accepts payments in ETH, USDT, BNB, and credit cards, providing a convenient way for investors to get involved. To stay updated on developments and news, investors can follow Crypto All-Stars on social media platforms such as Twitter and Telegram. Visit the Crypto All-Stars presale website for more information and to participate in the project.
