Dogwifhat (WIF) Meme Coin Faces Decline

Dogwifhat (WIF), a new dog-themed meme coin, has experienced a significant drop in value, falling 29% over the past week to $1.85. Technical indicators point to intense selling pressure and a potential for further declines. WIF's price fell below its ascending channel support on July 23, signaling increased selling activity. Trading volume rose by 127%, reflecting short selling. If the downtrend continues, WIF could drop to $1.48, but a reversal could see it rise to $2.28.

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