#MarketSentimentToday

Dogwifhat Dropped 40% Last Week

After a 38% price drop last week, Solana memecoin Dogwifhat (WIF) is no longer in the top 50 cryptocurrencies by market cap.

On June 23, Fantom (FTM $0.55) rose 2.24% to $1.65 billion, replacing Dogwifhat as the top 50 cryptocurrencies by market capitalization after it fell 9% to $1.60 billion in 12 hours.

"I just checked the chart, and it doesn't seem like anyone is accumulating," said pseudonymous crypto trader Blockgraze on June 23 X in response to WIF's accumulation zone debate.


Dogwifhat is still the fourth largest memecoin behind Pepe (PEPE $0.000010), which has a market capitalization $4.57 billion—nearly three times bigger.

As of publication, CoinMarketCap shows Dogwifhat down 38% in the previous week and trading at $1.62.

Futures traders are wary about Dogwifhat's near-term trajectory after the price decline. CoinGlass reports that Open Interest (OI) for all Bitcoin futures contracts on exchanges has dropped 25% to $209.64 million.


#Dogwifhat #WIF $WIF