Famous Crypto Billionaire Has That Chest Coin On His Radar: He Will Buy It!

Recently, the cryptocurrency market has been witnessing exciting developments. One of these developments is happening around the well-known Solana-based chest coin Dogwifhat (WIF). Galaxy Digital CEO Mike Novogratz’s post on the social media platform

Novogratz asked where he could get that chest coin project

Billionaire Mike Novogratz, one of the leading names in the cryptocurrency field, came to the fore with an X post. In his post on his account, X said, “It would be a perfect gift for someone I know. Does anyone know where I can get one of the dog’s hats? He asked a humorous question in the form This post led to speculation in the cryptocurrency market. Because of his question (dogewifhat = dog in a hat) affiliates began to think that Galaxy Digital might consider including Dogwifhat in its portfolio.

Galaxy Digital, as you know, is a valuable investment company that has launched the BTCO Bitcoin ETF together with Invesco. The company did not make any official statement about Dogwifhat other than Novogratz’s post. However, this sharing led investors to think that the company might be interested in this chest coin.

Elon Musk also mentioned WIF

Another development that increases excitement is cryptokoin.com As we reported, Elon Musk mentioned Dogwifhat in his live broadcast on the X platform. In the video that attracted great attention, Musk made a short statement saying, “I know Dogwifhat.” Musk’s previous support for cryptocurrencies such as Dogecoin led to significant changes in the market. For this reason, investors think that Musk’s words may have a similar effect for Dogwifhat.

Dogwifhat, known for its distinctive Shiba Inu figure with a knitted hat, experienced an impressive rise at the beginning of the year. But since the end of May, its price has been declining, following a steady downward curve. Analysts state that the coin is approaching a critical reinforcement level and its future oscillates between recovery or further decline.

What is the latest situation in Dogewifhat price?

Despite the recent rise, technical indicators paint a troubling picture for Dogwifhat. A descending channel, marked by gradually decreasing highs and lows, indicates continued selling pressure. Since the end of May, the coin’s value has fallen by 30% and is currently trading below the critical resistance level of $2.44. In addition, the Aroon Down indicator, a tool that measures the strength of the downward trend, also reveals an alarming situation. The Aroon Down line for Dogwifhat stands at 100%. This indicates a strong downward trend and recent low prices.

At the same time, this situation shows that selling pressure prevails and there is no buying interest. But despite all these negative indicators, there is still a glimmer of hope for Dogwifhat supporters. If the current support level is maintained, a recovery towards the resistance level of $2.70 may be possible. This gives the coin a temporary breather and potentially provides an opportunity for a breakout from the falling channel. But if the reinforcement level is broken, it may cause loss of investor confidence and a sharp decline in the price.

The current sentiment around Dogwifhat is mixed. While technical analysis points to a decline, there are also optimistic assumptions. Some analysts predict that the price could rise to $7.87 by mid-July, an increase of 225%. The Fear & Greed Index, which measures market sentiment, shows a high level of greed at 74%. This indicates that there may be a potential multi-valuation. In the last 30 days, Dogwifhat has gained 30% and exhibited a price volatility of 11.82%. This shows that the price can fluctuate significantly.