- The costs of NOT and WIF have declined within the final week.
- This has been attributable to a surge in profit-taking exercise.
Notcoin [NOT] and dogwifhat [WIF] have shed their most up-to-date positive aspects. The two altcoins have witnessed double-digit value declines up to now seven days.
According to CoinMarketCap, NOT’s worth dropped by 35%, whereas WIF’s value dipped by 21%. At press time, NOT exchanged palms at $0.016, and the memecoin WIF traded at $2.62.
NOT braces for extra dip
Following its launch on the Toncoin community on 16th May, NOT’s worth climbed to a peak of $0.02 on 2nd June.
However, as profit-taking exercise gained momentum, NOT bulls couldn’t defend that value stage, therefore the worth decline. At its present worth, the altcoin’s value has dropped by 20% from its excessive.
An evaluation of key momentum indicators confirmed the surge in NOT sell-offs up to now few days.
For instance, its Relative Strength Index (RSI) and Money Flow Index (MFI) trended towards their respective middle strains. At press time, the token’s RSI and MFI have been 55.31 and 56.56, confirming the decline in shopping for stress.
Further, the worth of NOT’s Aroon Up Line (orange) was 35% at the time of writing. This indicator identifies the power of an asset’s value traits and potential reversal factors.
When an asset’s Aroon Up line is near zero, the uptrend is weak, and the newest excessive was reached a very long time in the past.
At its present value, NOT traded near its 20-day exponential shifting common (EMA), which tracks the token’s common value up to now 20 days.
When an asset trades near this key shifting common, it alerts a decline in shopping for momentum and a sign that the bears would possibly quickly regain market management.
Source: TradingView
WIF sellers take cost
Regarding WIF, its efficiency has not been any totally different, because the bearish bias towards the main meme coin stays vital.
For instance, its Chaikin Money Flow (CMF) rested under the zero line to return a price of -0.09 at press time.
This indicator measures the move of cash into and out of the WIF market. When its worth is detrimental, it alerts liquidity outflow from the market, which is a bearish signal and a precursor to an additional value decline.
Realistic or not, right here’s NOT’s market cap in SOL phrases
Also, readings from WIF’s Directional Movement Index (DMI) confirmed its optimistic directional index (inexperienced) resting under its detrimental index (purple).
Source: TradingView
This signifies that bear power is extra vital than bull power. It is interpreted as a sign that the sellers have market management.
