Solana meme coin, Dogwifhat (WIF), has crashed below $2 this week, witnessing double-digit declines as investor interest in the popular meme coin begins to wane.
Dogwifhat Crashes 26%
The price of Dogwifhat is currently trading at $1.8 as the doggy-themed meme coin continues to experience massive bearish pressure from prevailing market volatility. The value of the cryptocurrency has crashed massively, falling by a whopping 25.72% over the past seven days.
The reason for this unexpected decline has been attributed to the recent selling pressures from WIF investors. Data from Solscan has revealed that more than $16 million WIF tokens have been sold off by anonymous cryptocurrency investors over the past week. This includes small amounts of tokens and large sums of hundreds of thousands of WIF coins.
Typically, when a cryptocurrency experiences continuous liquidations from investors, it triggers selling pressures, which results in a decline in its market value. In the c
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