Dogwifhat (WIF) is facing a crisis as investor confidence continues to decline for a number of reasons.

Over the past three weeks, it has fallen by more than 45% and is currently trading at $2.1.

The MACD indicator continues to signal a bearish crossover, which could continue the bearish trend.

At the same time, capital outflows are evident. Open interest has decreased from $298 million to $216 million, a drop of $80 million. Investors are lacking confidence and are starting to withdraw from WIF.

This combination of technical indicators and investor behavior highlights the challenges WIF is currently facing in the market.

Despite the current increase in WIF prices, the growing bearish sentiment among investors could pull its price below $2.0 and even down to $1.5.

If WIF prices continue to rise and break through the $2.3 resistance level, it could break the bearish trend and lead to further price increases.

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