📉 Dogwifhat (WIF), the Solana-based memecoin, is hanging by a thread near its key support at $0.545. After a 75% rally, WIF dropped 5.5% in 24h, now trading at $0.559. Volume also plunged 40%, signaling fading interest.
📊 If WIF closes a daily candle below $0.545, it could tumble 25% to $0.41. But if it holds, a bounce back remains possible. The CMF is still positive at +0.04 — buyers haven’t vanished completely.
⚠️ On-chain metrics are flashing red. Coinglass data shows a funding rate of -0.00103% and a long/short ratio of 0.944. Over 51% of traders are shorting WIF, confirming bearish sentiment.
🧐 All eyes are on the $0.545 support — break it, and the memecoin might enter a steep decline. Hold it, and the bulls might still have a shot.
⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.
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