Dogwifhat Price Analysis: Is Still $10 Feasible After a 40% Monthly Drop?
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Dogwifhat price sees a dip amid market fluctuations, with significant changes in trading volumes and open interest, reflecting a volatile trend in the meme coin sector.
Dogwifhat (WIF) price, a Solana-based meme coin, has recently seen a decline, signaling a bearish trend. The price of WIF is dipping amidst market turbulence, with both bulls and bears struggling to establish control. This reflects broader instability among meme cryptocurrencies.
Dogwifhat Price Dips as Open Interest Declines
According to Coinglass data, the trading volume and open interest in the WIF derivatives market have significantly declined.
Trading volume has plunged 42% to $833 million, accompanied by a 6% decrease in open interest, now at $202 million. This slump highlights a weakening momentum among traders, potentially signaling a bearish trend in the market.
Ove the past 24-hours, Dogwifhat price has exhibited volatility, hovering between a high of $1.57 and a low of $1.47. As of the time of writing, the WIF price hovered at $1.53, with a slight increase of 0.42% during the U.S. trading hours.
WIF Price Analysis: Rebound or Continued Decline?
Over the past month, the meme coin has decreased by 40%, indicating a bearish trend. Additionally, the WIF price has experienced a 4% decrease over the past week following market corrections, suggesting continued volatility in this asset.Â
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