The official account of Dogwifhat has likely been compromised after a series of random tweets sparked concerns among investors.
The official X account of Dogwifhat started posting random tweets in the early hours of November 15th, making many believe that the account had faced a security breach.
The negative sentiment had likely hurt the coin’s trading, making it fall over 16%. At press time, the token at $3.54, down over 15.71% as compared to the same time last day.
Dogwifhat Account Breach Raises Question Over Safety Of Crypto Community
The account breach for Dohwifhat comes as the entire online community is facing massive security concerns amid rising hacks. Today’s incident occurs in the context of changing threats to crypto security, with the rise of new North Korean hacking tactics being one of the most noteworthy.
Just previously, DeltaPrime experienced a serious security breach that led to the theft of over $4.8 million worth of cryptocurrencies from the Arbitrum (ARB) and Avalanche (AVAX) networks.
Additionally, SentinelLabs security researchers have discovered sophisticated phishing scams that target experts in the cryptocurrency business and specifically take advantage of worries about the volatility of the Bitcoin price since July 2024.
Popular musician Wiz Khalifa’s Twitter account, which has a sizable following of 35.7 million followers, was compromised on November 3rd in another noteworthy incident.
High-profile social media profiles are still the target of crypto-related scams, as seen by the hackers’ attempt to promote a fake memecoin called $WIZ.
WIF Token: What Do Market Indicators Say?
The WIF token took a serious plunge on November 15th, extending its negative trading. However, considering the market indicators, the Fear & Greed Index is at 80 (Extreme Greed),
This might indicate that the sentiment for the coin is still bullish as investors expect a good recovery from the coin in the future. Over the previous 30 days, Dogwifhat recorded 14 out of 30 (47%) green days with a price volatility of 15.43%.
Overall, with 22 technical analysis indicators indicating optimistic signals and 5 indicating bearish signals, the Dogwifhat price prediction sentiment for the market is bullish.
Other parameters suggest that Dogwifhat’s 200-day SMA will increase during the upcoming month. Additionally, Dogwifhat’s short-term 50-day SMA is predicted to reach $5.10 in the coming month.
One well-liked indicator that shows if a cryptocurrency is overbought (above 70) or oversold (below 30) is the Relative Strength Index (RSI) momentum oscillator. With the RSI value at 66.64 right now, the WIF market is in a neutral position.