The post Dogwifhat (WIF) Falls Out Top 50, Tumbles 38% Over Past 7 Days appeared on BitcoinEthereumNews.com.

Dogwifhat (WIF) saw the steepest 7-day price decline, falling out of the top 50 cryptocurrencies by market cap but remains in fourth place among meme coins. Solana meme coin Dogwifhat (WIF) has fallen out of the top 50 cryptocurrencies by market cap, as its price tumbled 38% over the past seven days. On June 23, Dogwifhat’s market cap fell down 9% to $1.60 billion in a 12-hour period, which led to Fantom (FTM) overtaking its position in the top 50 cryptocurrencies by market cap, rising 2.24% at $1.65 billion. “Many people are talking about how WIF is in their accumulation zone, but I just checked the chart and it doesn’t seem like anyone is accumulating,” pseudonymous crypto trader Blockgraze wrote in a June 23 X post. many people are talking about how WIF is in their accumulation zone, but I just checked the chart and it doesn’t seems like anyone is accumulating — blockgraze (@blockgraze) June 23, 2024 Dogwifhat still remains the fourth largest meme coin by market cap, positioned below PEPE, which has nearly three times the market cap of Dogwifhat at $4.57 billion. At the time of publication, Dogwifhat is trading at $1.62, down 38% over the past seven days, according to CoinMarketCap data. Dogwifhat Price Chart   The price decline has seemingly caused futures traders to hold back from betting on Dogwifhat’s near-term direction.  Open Interest (OI), the total value of all outstanding or unsettled Bitcoin futures contracts across exchanges, has dropped 25% to $209.64 million over the same period, according to CoinGlass data. If it rebounds by approximately 13% to its price of $1.81 from two days ago, around $13.53 million in short positions will be wiped out. The sentiment has shifted dramatically over the past few months, from calls for Dogwifhat’s price to triple when…

---

Filed under: News - @ June 24, 2024 7:22 pm