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Dogwifhat’s Price Sinks 64%—Can Bulls Reverse the Trend?
The cryptocurrency market has been plagued by a series of brutal declines in recent weeks, and Dogwifhat (WIF) is no exception. The memecoin has suffered an astonishing 64% price drop in just four weeks, plummeting from its previous high of $1.90 to a current value of $0.6153.
Despite the massive decline, bulls still have a glimmer of hope. Holding above the critical support level near $0.61 could be the turning point for WIF’s downtrend. However, a breakdown below this zone could trigger an even steeper sell-off, potentially sending prices as low as $0.50 or even $0.44.
Technical indicators are overwhelmingly bearish, painting a dire picture for Dogwifhat investors. The Stoch RSI recently confirmed a bearish crossover, signaling that downward momentum is gaining strength. Lower highs and lower lows have formed consistently, leaving sellers firmly in control of the market.
Source: cryptonewsland.com
