WIF or dogwifhat plunged over 6% during early trading hours on Thursday, making an extended bearish trade and being at the top of the losers list. At the press time, the coin is trading at $2.13, down over 8.29% as compared to the same time last day.
Dogwifhat (WIF) has a market capitalization of $2.13 billion, a 24-hour trading volume of $260 million, and a market dominance of 0.10%.
Why is WIF falling?
Dogwifhat’s all-time high price was $4.80 on March 31, 2024, and its all-time low price was $0.004131 on December 13, 2023. WIF has retreated as low as $1.50297 and risen as high as $2.89 since reaching its all-time high.
The main reason behind the lackluster trading currently resides in the absence of bullish cues and weakened investor confidence in the token.
At press time, the Fear & Greed Index for Dogwifhat shows a level of 67 (Greed), indicating a pessimistic market attitude.
However, on the brighter side, many people have taken notice of WIF, including well-known individuals like rapper Lil Pump, who recently tweeted about the token.
This exposure is anticipated to stimulate more interest and funding. Technical reports also provide strong buy signals, adding to the positive view for the currency going forward, assuming that favorable trading conditions continue.
dogwifhat price prediction: what will happen next?
Dogwifhat (WIF) has demonstrated resiliency despite its recent downturn, with 16 green days in the previous 30 days, or a 53% success rate in positive daily performance. This indicates some stability and investor confidence despite market turbulence.
However, WIF is down over 15% every week and over 2% every month. It is important to recognize the difficulties WIF faces in the current market scenario. From its peak of $4.80, the price has dropped by nearly 51%, indicating a negative trend. Investors are becoming more cautious due to this negative trend, which has sparked concerns.
If this negative sentiment continues, dogwifhat can plunge as low as $1.50297, creating more bearish trading days. But on the brighter side, according to rumors fueled by recent investor optimism, WIF may reach $10 by the end of 2024.
