The post WIF crypto crashes 45% in 30 days, falls off top 50 list – What’s ahead? appeared on BitcoinEthereumNews.com.

WIF, one of the best-performing memecoins this cycle, lost a chunk of its value and left the top 50. Data from showed that million of short position would face liquidation if WIF bounces. dogwifhat [WIF], the Solana [SOL]-based token that kept other memecoins trailing, is now at a spot no one would have imagined a few months back. In the last 30 days, the WIF crypto price has decreased by 45.83%. Not only that, the cryptocurrency has also dropped out of the top highly-regarded 50 per market cap. At press time, WIF’s price was $1.53. Its market cap was $1.56 billion, with Fantom [FTM] taking its place. Though dogwifhat launched in mid-December 2023, its rise to stardom was in Q1 2024. During that time, the price jumped by more than 1500%. WIF’s volume is no more at the top This helped the WIF crypto price hit an all-time high of $4.84. While there were predictions that WIF would rally to $10, none of that has come to pass since it began this steep correction. At some point, some analysts mentioned that the memecoin would flip the likes of Pepe [PEPE] and Shiba Inu [SHIB]. But that has not happened. For this piece, AMBCrypto examined Dogwifhat’s on-chain status, and its potential for the future. The first metric we looked at was WIF’s crypto volume. According to data from Santiment, the token’s volume was $211.62 million.  This was close to the lowest it has reached since the 13th of May. When WIF experienced its quarter-long upswing, the volume got close to $2 billion on several occasions. Source: Santiment Bears risk liquidation Therefore, the value at press time implies that interest in the token was nearing an all-time low. As such, it might be challenging for the price to recover some of its…

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Filed under: News - @ June 25, 2024 11:14 am