😱🤯Dogwifhat (WIF) crashed: Sales are increasing in Memecoins 🔻🔻🔻
According to CoinGlass systems, #Dogwifhat ($WIF ) OI has fallen by about 28 percent from $353.4 million to $252.5 million.
Solana-based memecoin Dogwifhat’s open interest (OI) has fallen to lower levels following a price drop, with the move expected to see a retest of a critical support level in the near future.
Cryptocurrency analysts have indicated that selling on dogwifhat (WIF) is likely to increase.
WIF was trading at $1.67 at the time of publication on August 3, according to CoinMarketCap’s performance, and has fallen 35.48 percent since July 27. Several crypto analysts expect Dogwifhat to encourage a test of a critical support level at 1.50 in the near future.
Cryptorphic, known for his cryptocurrency analysis, wrote in an X post on August 2, “WIF is in a recovery phase on the daily timeframe and is likely to move down towards the lower support trendline between $1.50 and $1.70.” Another crypto analyst, Scient, said, “The price is correcting towards the daily support.”
Cryptocurrency investor CryptoJack wrote in a post to his 337,000 followers, “WIF price reached the previous target and is now falling again and will probably retest the $1.5 backup.” If dogwifhat tests the $1.5 band and the downward movement in BTC continues, then a pullback to $1 can be expected for the memecoin.
The increasing BTC dominance every passing day, geopolitical problems and the increasing sales in BTC will have a negative impact on WIF. WIF investors first draw attention to $1.5 and then a band of dollars.
