$WIF #wifالعملة

Why did Solana’s Dogwifhat (WIF) crash?

WIF is expected to drop another 48% as it forms a classic bearish reversal setup.

Dogwifhat (WIF), the fourth-largest memecoin by market cap, is on the verge of erasing the recovery it made after the August 5 crypto market crash. WIF has fallen by around 30% from its August 9 high of around $1.95, sending its price down to $1.36 as of August 17.

WIF crashed alongside other memecoins

WIF’s price declines were accompanied by similar downward movements across other memecoins, namely Dogecoin ( $0.10 ), Shiba Inu ( $0.000013 ), and Pepe ( Pepe 0.000007 ).

For example, DOGE, the largest memecoin by market cap, has fallen by around 10% in the past nine days.

Among the leading coins, WIF has seen the biggest losses over the weekly and monthly timeframes. For example, WIF’s 30-day return is around -42%, far outpacing DOGE (-15%) and SHIB (-23.5%).