The popular meme coin, Dogwifhat (WIF), has plummeted below $2 this week, facing significant drops in value as investor interest dwindles. Currently trading at $1.8, the dog-themed cryptocurrency is under immense bearish pressure due to market volatility, with a staggering 25.72% decline in the past week. Selling pressures from WIF investors, liquidating over $16 million worth of tokens, have contributed to this unexpected downturn. Large transactions, like a whale depositing 12.66 million WIF tokens on Binance, signal potential sell-offs. If this trend continues, Dogwifhat's price may further decrease. Despite other meme coins seeing gains, Dogwifhat has dropped by 2.13% in the last 24 hours. CryptoQuant's CEO predicts further declines for meme coins, advising investors to focus on market fundamentals rather than quick profits from meme-based cryptocurrencies. Read more AI-generated news on: https://app.chaingpt.org/news