HomeCryptoNews and price analysis of the crypto projects Dodo, Dogwifhat, and Chainlink

News and price analysis of the crypto projects Dodo, Dogwifhat, and Chainlink

In this article we examine the latest news for the crypto projects Dodo, Dogwifhat and Chainlink.

We also see an analysis of the prices of the respective cryptos, in a hectic moment of the market where Bitcoin seems to have taken a brief pause from an uncontrollable bullish trend after yesterday’s crash.

These coins in the coming weeks could outperform the leader, offering tempting speculative opportunities.
Let’s see all the details below.

Latest news for the crypto projects Dodo, Dogwifhat and Chainlink

Starting from the most relevant news for the decentralized exchange Dodo, we can highlight the latest initiative led by Binance that intends to distribute a small airdrop to platform users.

Within the event, all those who use the Dodo protocol through the Binance web3 wallet can win a share of the $90,000 crypto prize.

This is a way to incentivize decentralized trading using the new hybrid wallet launched by Binance a few months ago, and leveraging the liquidity pools within Dodo to introduce the innovative cryptographic protocol to a very wide user base.

The application in question runs on 15 different blockchains, with a particular focus on Ethereum’s layer-2, and boasts a Total Value Locked (TVL) of 35 million dollars.

On the other hand, moving on to the Dogwifhat project, which quickly became famous thanks to the virality of the meme that features an image of a dog wearing a hat, we can only consider the most important news the listing on Binance that took place yesterday.

Following the success of memecoins DOGE, SHIB, PEPE, FLOKI, and BONK, the world’s largest exchange in terms of volumes has decided to add the crypto WIF to trading as well, which has stood out from competitors for its strong community and some speculative actions.

The currency of the Dogwifhat project has debuted on the exchange with a bang, clearly outperforming all other memes in terms of performance, managing to recover quickly after yesterday’s BTC crash.

Today, it is accompanied by strong demand, with crypto prices exceeding $2 per token with a performance of +32% in the last 24 hours, bringing the market capitalization to over $2 billion.

As for Chainlink, for the number one project in the field of decentralized oracles innovations do not stop and continue at an incessant pace.

A few days ago the protocol team announced the implementation of the “Proof of Reserve” technology for the exchange traded fund issuer Ark Invest in its counterparts linked to the crypto market.

Chainlink will be responsible for verifying in real time the reserves of the investment fund, which, by offering spot exposure to its investors on the Bitcoin market, must ensure a 1:1 collateralization with the underlying asset.

This represents just the tip of the iceberg of all the progress made in the fundamental field by Chainlink in the last year, with the project becoming the undisputed leader in the field of tokenization of real assets thanks to the support of the Swift network.

Chainlink represents that central piece of decentralized finance, destined to grow in the long term and become increasingly dominant.

Analysis of the prices of the coins DODO, WIF and LINK

Now moving on to the speculative side, let’s see how the respective cryptos of the Dodo, Dogwifhat, and Chainlink projects are performing graphically.

Going in order, we see that DODO’s price action remains bullish even after yesterday’s shake triggered by BTC’s rejection from the highs at $69,000.

The crypto of the homonymous decentralized exchange remains within a bullish channel that could explode in the coming weeks.

In the short term, yesterday’s candle does not provide the necessary confidence to aim for a new break of local highs in the very short term, but still leaves open that possibility.

The slight divergence found on the RSI indicator signals the need for a small break from the bull’s momentum, to restore a healthy trend.

Now prices will probably settle around the EMA 50 area, and then reload upwards when the right time comes.

For DODO we expect the recovery of the $0.35 zone within the next months, and then possibly aiming for the psychological threshold of $0.50.

crypto price chart DODO
Daily chart of the price of Dodo (DODO/USDT)

As for WIF, the token of the Dogwifhat meme project, the situation is quite difficult to analyze.

The trend is absolutely bullish at the moment, and the crypto seems not to care about the uncertainty in the Bitcoin market, having quickly recovered from yesterday’s dip.

Anyway, the extent of the movement worries traders who could encounter a strong correction at any moment.

Think that since February 24th, the crypto meme has risen by about 600%, going from 0.3 dollars to the current 2.09 dollars.

At the moment it is not possible to predict a zone where the retracement could occur, as the crypto is in the price discovery phase, currently at all-time highs.

Being a relatively new currency, it has quickly surpassed the $2 billion market capitalization. We are struggling to indicate the presence of a fertile ground for a continuation of the bullish trend, even though the outlook is currently anything but bearish.

Be careful not to overexpose yourself in cryptocurrencies like this one that have already experienced their crazy market surges, especially in a context where altcoins could suffer from a potential market dump by the king of the market.

DogWifHat crypto price chart WIF
Daily chart of DogWifHat price (WIF/USD)

Finally, regarding LINK, the utility token of the Chainlink ecosystem, we see how yesterday’s crash was promptly absorbed by buyers below the EMA 50 on the daily time frame, bringing prices back above that level which has been acting as support since October.

Here too the forecasts are not for an instant recovery of prices, but rather for a consolidation/distribution at current levels, waiting for the next stimulus from the bulls.

If in the next few days the crypto were to hold the $18 level, we could expect a new leg up shortly, with prices likely to break through the $22 threshold, paving the way for a season of increases for the leader of oracles on blockchain.

LINK historically grows in different ways and times compared to the rest of the altcoin sector, with excellent performances that arrive ahead of the benchmark.

If history were to repeat itself, we could expect a bright future for this token in the coming months, in anticipation of the altseason of the entire market.

Among the 3 cryptos we have analyzed, Chainlink seems to be the most “secure” for a long-term investment, being one of the best in the cryptographic market for fundamentals and reputation.

Chainlink crypto price chart LINK
Daily chart of Chainlink price (LINK/USDT)
Alessandro Adami
Alessandro Adami
Graduated in "Information, Media and Advertising", for over 4 years interested in the cryptocurrency and blockchain space. Co-Founder of Tokenparty, community active in spreading crypto-enthusiasm. Co-founder of Legal Hackers Civitanova marche. Information technology consultant. Ethereum Fan Boy and supporter of Chainlink oracles, strongly believes that smart contracts will be central in the development of society.