Are You Wondering If Dogwifhat (WIF) Is Dead Or Out? Whale Exodus Prices Have Tanked 15%.

Dogwifhat, once an iconic Solana meme coin, experienced an unprecedented descent over the course of one week due to general crypto market correction and questions raised over sustainability of meme coin fads.

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WIF, the token powering Dogwifhat, saw its price tumble by 15% within 24 hours – wiping out any gains gained during a recent rebound rally and leaving major altcoins like Ethereum and Cardano feeling its impact. This selloff didn’t only affect Dogwifhat; all crypto market experienced double digit declines.

Price of WIF dropped 15% as market collapsed, due to an unknown whale depositing 900K $WIF ($1.64M) into Bybit just 10 hours prior, leaving 974K ($1.76M).https://t.co/qJwlxcWy15 pic.twitter.com/amIkvwKfNG
Lookonchain (@lookonchain) shared that Dogwifhat had further suffered due to the actions of an investor who dumped over one million WIF tokens through various transactions at once in one transaction, totalling roughly $1.64 million worth. This major Solana whale no doubt contributed significantly to Dogwifhat’s downward spiral.

Dogfight On Derivatives: Bulls Trample, Bears Feast
While Spot markets witnessed bloodbaths, WIF derivatives markets showed some interesting activity. Trading volume surged an amazing 25% – elevating Dogwifhat to third most-desired meme coin behind Dogecoin and Pepe Token – suggesting increased interest. But closer inspection shows an alternate narrative: Dogwifhat’s trading volume appears to reflect something quite different: increased resistance.
Underneath it all was an epic struggle between bullish and bearish investors, with over $3 million of WIF positions liquidated over 24 hours by bullish investors who bet the price going higher – often forced into selling at losses when price dropped instead of rising as expected.
WIF Market Cap is currently $1.9 Billion on TradingView (Source)
While increased volume might indicate some form of recovery, liquidation figures reveal otherwise as many bulls were crushed underfoot by bears taking advantage of market turmoil to their gain.
As Dogwifhat falls further and further from grace, not everyone has lost faith in its future. With prices continuing to decline rapidly, some “Solana whales” see it as an attractive entry point and believe Dogwifhat will return to glory – yet another sign of hope!

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Dogwifhat was once one of the hottest meme coins, riding its popularity to reach a $4 billion market cap and ranking within the top 30 global crypto rankings. But its recent downfall highlights their inherent volatility; unlike more established coins which often offer utility or strong fundamentals that underpin them.
Dogwifhat’s future remains indeterminate; whether or not it can make a comeback may depend on several factors including market trends, community support and any future developments within its ecosystem.
Image and chart credit go to Shutterstock and TradingView respectively.