Dogwifat’s price fell 5% as rival ICO reached $13 million

The price of Dogwifhat has fallen more than 5% over the past 24 hours to trade at $1.34 as of 9:54pm EST, as investors dump their holdings in the dog-themed meme coin into the market.

Along with the drop in WIF price, the cryptocurrency also saw a drop of over 33% in 24-hour trading volumes to around $662.04 million.

Dujoyvat price stabilizes at the main support

WIF/USD daily chart (Source: GeckoTerminal)

The price of Dujoyvat is Resting At the $1.2504 support level after trading in a negative sequence of lower and higher lows over the past two days. Should Meme coin If the price falls below this technical safety net, it could face the risk of falling to the subsequent support level at $0.7697.

On the other hand, a bounce from the $1.2504 support level in the next 48 hours may invalidate the bearish thesis. In this alternative case, the cryptocurrency may try to regain a position above the $1.6734 mark. After that, continued pressure from buyers could push Dogwifat’s price to a high of $2.1541.

Technicians warn that the price of Dojoyvat may continue to decline

Technical indicators on the daily chart of SOL are warning that the price of the meme coin may continue to decline over the next 48 hours, with the Exponential Moving Averages (EMAs) and Moving Average Convergence Divergence (MACD) showing bearish signals.

The 9 EMA is currently below the 20 EMA on the daily chart. This alignment of the shorter EMA under the longer EMA is often seen as a signal that the cryptocurrency is in a negative trend, with momentum favoring sellers.

Meanwhile, a major bearish technical flag is about to be triggered by the MACD. Over the past 24 hours, the MACD line has declined towards the MACD signal line. Now, the former is looking to cross below the latter. If this intersection occurs, it could be a sign that… Dujoyvat The price has entered a negative cycle.

While WIF risks falling further over the next 48 hours, the pre-sale of competing tier 2 Solana meme coin Sollax (Solex) It’s shipping toward the $13 million mark.

The project’s strong ICO performance is likely to continue in light of bullish forecasts by cryptocurrency experts. Among them is 99Bitcoins, a popular cryptocurrency YouTube channel with over 721,000 subscribers, which says SOLX could grow 100 times after launch.

Solaxy to unleash Solana’s full scaling potential

Solana is one of the fastest blockchain networks currently on the market. This speed, combined with low transaction fees, has made the chain the network of choice for developers looking to capitalize on the recent hype around meme coins. Even Donald Trump himself launched a token on the Solana network, which managed to achieve a market cap in the billions.

However, Solana’s popularity came at a price. As more tokens enter the Solana ecosystem on a daily basis, the network becomes more crowded. This high level of traffic negatively affected chain speeds and increased transaction costs.

Solaxy, with its Layer 2 sidechain and scaling technology, aims to address Solana congestion by taking over some of the network’s transaction processing workloads.

By running in parallel with Solana, the layer 2 chain will provide the mainnet with the computational power needed to handle the influx of new coins. As a result, Solaxy will not only increase Solana speeds, but will also lower the network’s competitive transaction fees.

The project will also connect Solana to the Ethereum network through bridging technology. This will unlock a superior Web3 ecosystem that combines Solana’s speeds and cost-effectiveness with Ethereum’s robust security infrastructure and thriving DeFi scene. Solaxy will then be positioned as a transaction layer between two of the most prominent chains in the cryptocurrency space.

High acreage rewards attract investors during the pre-sale phase

Solaxy has already raised more than $12.7 million through its ongoing initial coin offering (ICO), indicating strong investor confidence in the future of the project. With bullish forecasts from experts like 99Bitcoins and the project’s mission to scale the Solana network, it’s no wonder a buying frenzy has exploded around the SOLX presale.

There is also a 296% APY on offer to anyone who buys and closes SOLX during this ICO phase which may attract investors. To receive these rewards, investors will simply need to purchase SOLX through the purchase tool included on the project’s website.

SOLX is selling for $0.001608 and can be purchased using cryptocurrency or a bank card. After obtaining some SOLX tokens, investors can head to the signing page on the website to put their tokens to work for high passive rewards.

Buy and stake SOLX for 296% APY before the scheduled price increase in 32 hours.

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