The Crash of Dogwifhat: What Gives?

The price of dogwifhat (WIF) has dropped 45 percent from its March highs, and investors are wondering why.

Last seen at $2.68, the WIF price has fallen precipitously from its all-time high of $4.86 in March.

Additional losses may be forthcoming, according to the WIF chart. Bears seem to have the upper hand in this market as it is trading below both its 21-day and 50-day moving averages.

In addition, a rapid retracement to $2.0 is probable in the event that it ruptures its present rising trend channel.

A new artificial intelligence meme currency is attracting investors' attention as dogwifhat (WIF) faces a possible price decline in the near future.

A new artificial intelligence meme currency is attracting investors' attention as dogwifhat (WIF) faces a possible price decline in the near future. Quotation from TradingView
Amidst a wider consolidation period in the cryptocurrency market, the WIF price has plummeted from its all-time high.

Since reaching an all-time high of about $74,000 in March, Bitcoin's price has remained stagnant in the $60,000s.


Significant retracements have been seen in a number of different altcoins and meme currencies.

It's possible that WIF may return strongly. Gains of more than 5-10x during current bull market are very improbable, however, given the company's market size of around $2.7 billion.

It's no surprise that people are looking for meme currencies with more potential for profit.



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