Dogwifat, a dog-inspired meme coin that has been on the rise recently, has begun to decline due to a number of factors. However, the value of WIF fell more than 12% today as the meme craze ended with a correction in the stock price of GameStop (GME). In addition, among the top 100 cryptocurrencies by market capitalization, meme coins such as WIF, BOME, PEPE, and FLOKI led the crypto market decline, confirming that the market decline is led by meme coins.
The price of Dogwifhat (WIF) has fallen by 12% over the past 24 hours, currently trading at $2.58 at the time of writing. The low and high value of the last 24 hours are between $2.53 and $2.89 respectively.
Whales and traders are liquidating Dogwifhat to take early profits after GameStop and AMC Theaters prices plunged following the recent market excitement. Meanwhile, GameStop's value has fallen after a stunning rise last week, falling more than 20% today after hitting a 52-week high of $64.83.
A whale sold 732,481 units of WIF currency, worth $1.85 million. Additionally, this whale bought units of the WIF token for $2.18 million but chose to sell all of its WIF holdings at a loss. Two other whales have expressed similar sentiments about liquidating their holdings in WIF coin.
