the WIF price has traded below the critical $2.0

22 มิ.ย.

The price once had a 50% growth in May 2024 from $2.73 to $4.22. The shift in the wind gave control to bears in June, and deterioration began.
Despite the fall, In the last 24 hours, the price has shown some positivity, as the volume surged 3.25%, amounting to $401.055 Million, and the WIF price surged 2.33%, where it last traded at $1.7990.
In the last 48 hours, the WIF price has traded below the critical $2.0 support level; from the round level, the price is almost 10% down on the daily chart. This consistent downfall of WIF has led to a bearish trend that has seen 24.5% in the gone by week and 38.50% in the gone by month in the Dogwifhat (WIF) meme coin. Thus, it signifies the investor's enthusiasm waning for the meme coins, and it reflects the larger trend within the cryptocurrency market.
Furthermore, recent price action and whale behaviors highlight that the bearish trend for WIF may continue. The psychological support of $2.0 has turned resistance now after the WIF price breached it recently. The further deterioration from here could be on the horizon if investors' confidence does not rise.