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- A massive long liquidation was recorded in the dogwifhat token.
- The WIF crypto price was down by 69% from its all-time high price.
The dogwifhat crypto market cap has witnessed a decline of 4.8% in the last 24 hours. It has consistently declined over the previous few days. However, the token’s market cap ranking was #49, as per CoinMarketCap.
The meme crypto’s trading volume witnessed a decline of 7.1%, leading to a traded value of $334.75M in the last 24 hours. That resulted in huge liquidity as 22.72% of the token market cap was traded.
The token’s circulating supply at press time was 100% of the total supply at 998.845M WIF. Its maximum supply was not defined, and it had a fully diluted market cap of $1.463B.
The dogwifhat token price was highly volatile, with 21.2% volatility. Also, the token’s market cap dominance was 0.07%, while the price sentiment was bearish, as per the analysts.
The CertiK security score of the token was 61.5, and its security ranking was #3711. It also belonged to the B tier and had strong market fundamentals, followed by a market score 87.18.
dogwifhat Token Derivatives Data Analysis
The derivatives volume and open interest in the dogwifhat token were declined. Its derivatives traded volume value also fell by 4.3% to $1.01B.
In the last 24 hours from the press time, a huge amount of longs were liquidated, resulting in $1.24M. Additionally, shorts worth $178.82K were liquidated, showing the seller’s dominance in the token.
WIF Token Technical Analysis
The WIF token chart exhibited a strong downtrend, followed by a consistent decline over the last few months.
WIF token price formed a lower low swing pattern on the daily chart, which exhibited a strong bearish character. For the last four months, the token has witnessed consistent profit booking followed by the bears’ dominance in price.
That behavior of the WIF token price led to the formation of a falling wedge pattern on the daily chart.
Despite this sell-off, the token once witnessed strong bullish dominance, leading to more than 1800% in token price surge from all-time lows.
The trend might be reversed if the WIF token price further breaks above the falling wedge pattern with solid momentum and sustains above the same. It can lead the token price to higher levels in the future.
WIF Token Technical Indicator Analysis
On the daily chart, the 20-day and the 200-day EMAs formed a fresh death crossover, and the 50-day EMA also headed toward the lower level. It exhibited a bearish character, but the price might still be reversed to higher levels.
WIF/USD Chart by TradingView
The Supertrend also gave a sell signal, followed by the price breaking below the Supertrend Average True Range level.
The MACD and the signal line traded in a death cross and have declined to the bearish trajectory. It was followed by the formation of a bearish histogram on the chart.
The RSI followed a bearish cycle and hit the oversold zone just a few days ago. At press time, it traded at the 38 level and overlapped the 14-day SMA.
The WIF token price might take support at the levels of $0.2970 and $1.080 and may face resistance from the $2.90 and $4.870 levels.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
