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Is Dogwifhat (WIF) Price Headed for a 14% Drop?

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Dogwifhat (WIF) price has shown mixed signals, with gains of 22.43% over the last three months but a decline of 5.53% in the past week. The Ichimoku Cloud on the WIF chart indicates a period of indecision, with the price hovering near the cloud and reflecting a neutral market stance.

The ADX suggests the current downtrend lacks strength, though the EMA lines are nearing a bearish “death cross” formation. If the downtrend gains momentum, WIF could see further declines; however, a reversal could push it back toward key resistance levels.

WIF Ichimoku Cloud Shows Mixed Signals

The Ichimoku Cloud on the WIF chart shows that the price is moving close to the cloud, indicating a period of indecision.

When prices sit within the cloud, it usually signals a neutral phase, where neither buyers nor sellers are in control. The cloud’s alternating colors — red and green — reflect this mixed sentiment.

Read more: How to Buy Solana Meme Coins: A Step-By-Step Guide

WIF Ichimoku Cloud.
WIF Ichimoku Cloud. Source: TradingView

The leading span lines, Senkou Span A and Senkou Span B, hint at future support and resistance. The cloud’s thin sections suggest the price could break out if momentum increases. A move above the cloud could confirm a bullish trend, while a drop below may indicate a bearish shift.

Dogwifhat ADX Shows the Current Downtrend Is Not That Strong Yet

WIF’s ADX has risen to 19.07 from around 15 a few days ago, indicating a slight increase in trend strength.

However, an ADX below 20 typically suggests a weak or non-existent trend, meaning that the recent changes in WIF’s price haven’t been strong enough to establish a solid direction.

WIF ADX.
WIF ADX. Source: TradingView

The ADX, or Average Directional Index, measures the strength of a trend without indicating its direction. Generally, an ADX above 25 points to a strong trend, while values below 20 reflect a lack of clear trend momentum.

Currently, WIF is in a downtrend, but with the ADX still below 20, it suggests that the downtrend lacks strong momentum and could be prone to reversals or fluctuations.

WIF Price Prediction: Death Cross Could Trigger 14% Correction

WIF’s EMA lines currently show a bearish setup, with the price positioned below them and the short-term EMAs nearing a “death cross” as they approach crossing below the long-term EMAs. This formation often signals a stronger downtrend, suggesting that selling pressure might increase if it fully forms.

Read more: How To Buy Dogwifhat (WIF) and Everything Else To Know

WIF EMA Lines and Support and Resistance.
WIF EMA Lines and Support and Resistance. Source: TradingView

However, indicators like the ADX and Ichimoku Cloud reveal that the current downtrend may still be weak. If momentum reverses, WIF price could attempt to test resistance at $2.63, and potentially even $2.80. That could be also driven by SOL price, since WIF is one of the most relevant meme coins in the Solana ecosystem.

Conversely, if the death cross completes and the downtrend gains strength, WIF might drop further to test support at $2.19, and possibly as low as $1.96, implying a potential 14% decline.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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VanEck Expands DeFi Offerings with PYTH ETN on Euronext

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Asset manager VanEck has launched a new ETN based on PYTH, specifically for European buyers. The Pyth network, a decentralized oracle protocol, has earned praise from VanEck for its potential to transform the DeFi landscape.

This launch follows several similar crypto-focused ventures by VanEck in recent months.

VanEck Launches PYTH ETN

According to a recent press release, asset manager VanEck is listing a new exchange-traded note (ETN) based on PYTH today. The Pyth network is a decentralized oracle protocol that uses PYTH as a network token. PYTH’s value has risen slightly since this announcement, bucking a decline this month, but there has not been a substantial price jump.

This new ETN is one of several recent crypto project investments by VanEck. Earlier in October, the firm launched a $30 million venture fund aimed at crypto startups and, just last week, partnered with Kiln to offer Solana staking.

Read more: What Is a Blockchain Oracle? An Introductory Guide

PYTH Valuation
PYTH Valuation on November 5. Source: BeInCrypto

VanEck publicly stated that Pyth’s technical potential inspired its latest ETN offering. Listed on Euronext Paris and Euronext Amsterdam, the ETN is now available to investors. Although distinct from an ETF, it shares some similarities: its value is tied to PYTH, and VanEck secures the ETN’s underlying assets in cold storage.

“Smart contracts… are gaining increasing significance in the financial world… and oracle networks play a crucial role in enabling [their] real-world use. With our Pyth ETN, investors have the opportunity to participate in the development of… Pyth Network, which has the potential to become a crucial part of DeFi application infrastructure,” VanEck Europe CEO Martijn Rozemuller said.

Read more: Crypto ETN vs. Crypto ETF: What Is the Difference?

However, it remains unclear whether “underlying assets” specifically refers to PYTH tokens. The ETN’s value is derived from the MarketVector Pyth Network VWAP Close Index, which in turn tracks PYTH’s value indirectly. This layered approach to value calculation may help explain why PYTH’s price has remained relatively stable since the announcement.

The press release also notes that the ETN is available across 15 European countries under the ticker VYPT, with a total expense ratio of 1.5%. VanEck cautions twice in its statement about the “risk of extreme volatility” associated with the product.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Swift, UBS, Chainlink Pilot Simplifies Tokenized Fund Transactions

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In partnership with UBS Asset Management and Chainlink, Swift has completed a pilot program designed to streamline tokenized fund transactions through its established financial network.

Conducted as part of the Monetary Authority of Singapore’s (MAS) Project Guardian, this pilot demonstrates how financial institutions can leverage Swift’s existing infrastructure to manage off-chain cash settlements for tokenized assets.

Swift, UBS Asset Management, and Chainlink have completed a pilot for settling tokenized fund subscriptions through the Swift network. The initiative addresses inefficiencies in the $63 trillion global mutual fund market by connecting 11,500 institutions to streamline manual processes and cut costly settlement delays that hinder liquidity.

“Chainlink is enabling institutions to reuse Swift’s infrastructure to facilitate payments for digital asset transactions. I am very excited by the upcoming adoption of these off-chain payment capabilities and how they will increase the flow of capital and expand the possible user base of digital assets,” Chainlink co-founder Sergey Nazarov said.

Read more: RWA Tokenization: A Look at Security and Trust

Chainlink and Swift’s pilot bears real potential in demonstrating how financial institutions can streamline these processes in the future. It automates payment processing for tokenized investment funds without requiring a fully blockchain-based system. This approach makes transactions faster and more efficient.

The pilot builds on earlier work between UBS Asset Management and SBI Digital Markets. Their previous collaboration focused on developing a Digital Subscription and Redemption system for tokenized funds.

Using Swift’s established infrastructure, the pilot demonstrated how fund transactions could be settled efficiently by connecting traditional systems with blockchain. Upon meeting specific conditions, UBS’s tokenized investment funds automatically issued or canceled fund tokens for investors.

UBS rolled out a tokenized fund on the Ethereum blockchain on November 1. The “UBS USD Money Market Investment Fund Token,” known as “uMINT,” aims to meet growing demand for tokenized assets. Meanwhile, MAS highlighted its dedication to asset tokenization, drawing insights from 40 institutions and 15 pilot trials.

“Our collaboration with UBS Asset Management and Chainlink under MAS’ Project Guardian uses the Swift network to bridge digital assets with existing systems. This approach supports our goal of helping financial institutions securely transact across various digital asset classes and currencies,” Swift Head of Strategy Jonathan Ehrenfeld commented.

Read more: How To Invest in Real-World Crypto Assets (RWA)?

The pilot highlights the growing momentum toward integrating digital assets with mainstream financial systems, illustrating how established infrastructures like Swift’s can support the fast-evolving digital economy.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Why FET Recovery Could Be More Than 10% in November

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Artificial Superintelligence Alliance (FET) is one of the top gainers today, registering a 10% increase within the last 24 hours. This FET recovery contradicts its performance in October, when its price decreased by 13.39%.

Following this rebound, on-chain data shows that the altcoin could be working toward wiping out those losses. Here is how.

Artificial Superintelligence Alliance Sees Buying Pressure  

Yesterday, FET’s price was $1.10. But as of this writing, the altcoin’s value has risen to $1.25. According to the 4-hour chart, FET’s price climbed this high due to rising buying pressure. 

Notably, Bull Bear Power (BBP) has jumped to the positive region after remaining in the red area since November 1. The BBP shows whether the strength of buyers is greater than that of sellers.

When the reading is negative, bears have the upper hand. Therefore, in this instance, bulls are in control. As such, the altcoin’s value could continue to climb if this remains the same. 

Read more: How to Invest in Artificial Intelligence (AI) Cryptocurrencies?

FET recovery driven by bulls
FET Bull Bear Power. Source: TradingView

The Money Flow Index (MFI) is another indicator suggesting that the FET recovery could be swift. The MFI, which measures buying and selling pressure by analyzing price and volume data, has shown a positive trend for FET. 

A rising MFI indicates increased buying pressure, which supports the likelihood of continued price growth as demand for the asset strengthens. Therefore, if bulls sustain this momentum, then the altcoin’s price might continue to rise.

FET recovery is ongoing
FET Money Flow Index. Source: TradingView

FET Price Prediction: Token to Breach Resistance

Since the IOMAP indicates that there is only one significant resistance level for FET at $1.28, where 3,590 addresses hold 616.89 million tokens, it suggests that surpassing this level could open up further upside potential. 

Notably, the IOMAP tool categorizes addresses by whether they are making a profit, breaking even, or incurring losses at the current price

This accumulation zone acts as a key psychological barrier. The volume of tokens accumulated here is notably higher than the amounts held between $1.06 and $1.25, signaling that if buyers manage to push the price beyond $1.28, FET could gain strong momentum.

Read more: Which Are the Best Altcoins To Invest in November 2024?

FET bulls to breach resistance
FET In/Out of Money Around Price. Source: IntoTheBlock

Therefore, if buying pressure continues to increase, FET could rally all the way to $1.44. However, if bulls fail to breach the resistance, the altcoin price might pull back, and FET could drop to $1.10.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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