Dogwifhat (WIF) is crashing! The price has plummeted by 50%, when will it turn bullish again?
(Main Business Strategy)
The coin has fallen by 2.19% in the past 24 hours. In the past 7 days, WIF has fallen by 23.18%. With the price falling, the market value has fallen by 12% to $1.91 billion in the past 24 hours. WIF trading volume has increased by 10% in 24 hours to $500 million, and the circulation has reached 1 billion.
As of writing, the price of WIF is $2.06, continuing the downward trend in recent weeks. Our analysis shows that WIF has experienced a downward trend in the past two days.
On June 16, WIF attempted to reverse the trend after weeks of consolidation. However, at the time of writing, these attempts failed and the downward trend continues. In this strong downward trend, the price has fallen by 50% from a high of $4.04 to $2.10.
As the market sentiment is extremely pessimistic at the time of writing, several indicators show a continued decline.
WIF reports a low funding rate as investors are unsure about the trend and therefore fail to open new positions. If the negative market sentiment continues, the WIF price will fall to $1.80.
In the case of a bullish scenario and a pattern reversal, WIF will try to reach $4.05 with new support around $2.25.
