{"id":381582,"date":"2024-04-05T00:30:44","date_gmt":"2024-04-04T19:00:44","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=381582"},"modified":"2024-04-04T14:25:37","modified_gmt":"2024-04-04T08:55:37","slug":"why-wif-might-outshine-shib-and-doge-in-the-short-term","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/why-wif-might-outshine-shib-and-doge-in-the-short-term\/","title":{"rendered":"Why WIF&#8217;s 19% hike might outshine SHIB, Dogecoin in the short term"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">WIF\u2019s Open Interest dropped alongside its price.\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Bearish sentiment remained dominant on SHIB and DOGE.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Meme coins such as <\/span><a href=\"http:\/\/ambcrypto.com\/predictions\/dogwifcoin-price-prediction\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">dogwifhat [WIF]<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"http:\/\/ambcrypto.com\/category\/shiba-inu-news\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Shiba Inu [SHIB]<\/span><\/a><span style=\"font-weight: 400;\">, and <\/span><a href=\"http:\/\/ambcrypto.com\/category\/dogecoin-news\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Dogecoin [DOGE]<\/span><\/a><span style=\"font-weight: 400;\"> have created buzz with their volatile price actions in the recent past. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">But as the market condition turned bearish, these tokens lost a substantial amount of their market caps.\u00a0<\/span><\/p>\n<h4><b>WIF might turn bullish soon<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">WIF, one of the newest entrants in the meme coin ecosystem, entered the market with a storm. It swiftly climbed up the ladder and surpassed PEPE in terms of market capitalization. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The past week was also in the best interest of investors, as the token\u2019s value surged by 19%. However, the tables turned in the last 24 hours as its price sank by 9.6%. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the time of writing, WIF was trading at $3.67 with a market cap of over $3.66 billion. But things can again turn in investors&#8217; favor, as suggested by a few metrics. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">WIF\u2019s Funding Rate dropped, meaning that derivatives investors were not buying WIF at its lower price. Additionally, its Open Interest also went down. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">A drop in the metric usually suggests that the possibility of a trend reversal is high.<\/span><\/p>\n<figure id=\"attachment_381583\" aria-describedby=\"caption-attachment-381583\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/dogwifhat-WIF-11.13.58-04-Apr-2024.png\"><img decoding=\"async\" class=\"wp-image-381583 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/dogwifhat-WIF-11.13.58-04-Apr-2024.png\" alt=\"WIF's open interest dropped\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/dogwifhat-WIF-11.13.58-04-Apr-2024.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/dogwifhat-WIF-11.13.58-04-Apr-2024-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/dogwifhat-WIF-11.13.58-04-Apr-2024-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/dogwifhat-WIF-11.13.58-04-Apr-2024-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/dogwifhat-WIF-11.13.58-04-Apr-2024-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/dogwifhat-WIF-11.13.58-04-Apr-2024-2048x693.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/dogwifhat-WIF-11.13.58-04-Apr-2024-1200x406.png 1200w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-381583\" class=\"wp-caption-text\">Source: Santimernt<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">We then checked WIF\u2019s 4-hour chart to see what indicators had to suggest. As per our analysis, WIF\u2019s Money Flow Index (MFI) registered a downtick from the neutral mark, which was bearish. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, its Chaikin Money Flow (CMF) took the other route and went upwards, hinting at a price uptick. In order for WIF to initiate a bull rally, its price might go above its 20-day SMA. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Bollinger Bands also showed that at press time, WIF\u2019s price was resting just under its 20-day SMA.<\/span><\/p>\n<figure id=\"attachment_381584\" aria-describedby=\"caption-attachment-381584\" style=\"width: 2710px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/WIFUSDT_2024-04-04_11-16-44.png\"><img decoding=\"async\" class=\"wp-image-381584 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/WIFUSDT_2024-04-04_11-16-44.png\" alt=\"\" width=\"2710\" height=\"1456\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/WIFUSDT_2024-04-04_11-16-44.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/WIFUSDT_2024-04-04_11-16-44-300x161.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/WIFUSDT_2024-04-04_11-16-44-1024x550.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/WIFUSDT_2024-04-04_11-16-44-768x413.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/WIFUSDT_2024-04-04_11-16-44-1536x825.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/WIFUSDT_2024-04-04_11-16-44-2048x1100.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/WIFUSDT_2024-04-04_11-16-44-1200x645.png 1200w\" sizes=\"(max-width: 2710px) 100vw, 2710px\" \/><\/a><figcaption id=\"caption-attachment-381584\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<h4><b>What are SHIB and DOGE up to?<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">While WIF\u2019s weekly chart was green, the case with SHIB and DOGE was different. Both meme coins registered double-digit declines in the last seven days. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to <\/span><a href=\"https:\/\/coinmarketcap.com\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400;\">, Shiba Inu and Dogecoin\u2019s values dropped by over 3% and 5%, respectively, in the last 24 hours. At press time, SHIB was trading at $0.00002626, and DOGE had a value of $0.1745. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Their negative price action impacted social metrics too. For instance, both SHIB and DOGE\u2019s Weighted Sentiment dropped, indicating bearish sentiment was dominant in the market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> However, while DOGE\u2019s Social Volume dropped, SHIB\u2019s metric went up, reflecting the latter\u2019s popularity in the crypto space.\u00a0<\/span><\/p>\n<figure id=\"attachment_381585\" aria-describedby=\"caption-attachment-381585\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/Dogecoin-DOGE-11.21.11-04-Apr-2024.png\"><img decoding=\"async\" class=\"wp-image-381585 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/Dogecoin-DOGE-11.21.11-04-Apr-2024.png\" alt=\"DOGE and SHIB's weighted sentiment dropped\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/Dogecoin-DOGE-11.21.11-04-Apr-2024.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/Dogecoin-DOGE-11.21.11-04-Apr-2024-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/Dogecoin-DOGE-11.21.11-04-Apr-2024-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/Dogecoin-DOGE-11.21.11-04-Apr-2024-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/Dogecoin-DOGE-11.21.11-04-Apr-2024-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/Dogecoin-DOGE-11.21.11-04-Apr-2024-2048x693.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/Dogecoin-DOGE-11.21.11-04-Apr-2024-1200x406.png 1200w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-381585\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Read <\/span><a href=\"http:\/\/ambcrypto.com\/predictions\/dogecoin-price-prediction\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Dogecoin\u2019s [DOGE] Price Prediction<\/span><\/a><span style=\"font-weight: 400;\"> 2024-25<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">SHIB\u2019s daily chart revealed that, unlike WIF, SHIB\u2019s CMF continued to go sideways. The Relative Strength Index (RSI) also followed a similar route, suggesting that investors might witness slow-moving days ahead.\u00a0<\/span><\/p>\n<figure id=\"attachment_381586\" aria-describedby=\"caption-attachment-381586\" style=\"width: 2710px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/SHIBUSD_2024-04-04_11-24-54.png\"><img decoding=\"async\" class=\"wp-image-381586 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/SHIBUSD_2024-04-04_11-24-54.png\" alt=\"\" width=\"2710\" height=\"1456\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/SHIBUSD_2024-04-04_11-24-54.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/SHIBUSD_2024-04-04_11-24-54-300x161.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/SHIBUSD_2024-04-04_11-24-54-1024x550.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/SHIBUSD_2024-04-04_11-24-54-768x413.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/SHIBUSD_2024-04-04_11-24-54-1536x825.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/SHIBUSD_2024-04-04_11-24-54-2048x1100.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/SHIBUSD_2024-04-04_11-24-54-1200x645.png 1200w\" sizes=\"(max-width: 2710px) 100vw, 2710px\" \/><\/a><figcaption id=\"caption-attachment-381586\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Dogecoin\u2019s RSI looked similar to that of SHIB, as it went sideways too. Additionally, its MACD displayed a bearish crossover. This looked concerning as it indicated a further price drop in the coming days.<\/span><\/p>\n<figure id=\"attachment_381587\" aria-describedby=\"caption-attachment-381587\" style=\"width: 2710px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/DOGEUSDT_2024-04-04_11-26-28.png\"><img decoding=\"async\" class=\"wp-image-381587 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/DOGEUSDT_2024-04-04_11-26-28.png\" alt=\"\" width=\"2710\" height=\"1456\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/DOGEUSDT_2024-04-04_11-26-28.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/DOGEUSDT_2024-04-04_11-26-28-300x161.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/DOGEUSDT_2024-04-04_11-26-28-1024x550.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/DOGEUSDT_2024-04-04_11-26-28-768x413.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/DOGEUSDT_2024-04-04_11-26-28-1536x825.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/DOGEUSDT_2024-04-04_11-26-28-2048x1100.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/DOGEUSDT_2024-04-04_11-26-28-1200x645.png 1200w\" sizes=\"(max-width: 2710px) 100vw, 2710px\" \/><\/a><figcaption id=\"caption-attachment-381587\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>WIF, SHIB, and DOGE\u2019s daily charts turned red, but WIF\u2019s situation might change soon.<\/p>\n","protected":false},"author":75,"featured_media":381590,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[6387,5824,66,3,6388,4,20],"tags":[],"class_list":["post-381582","post","type-post","status-publish","format-standard","has-post-thumbnail","category-dogecoin-news","category-memecoins","category-new-news","category-news","category-shiba-inu-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - 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