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<a href="https://bitcoinworld.co.in/dogwifhat-wif-falls-out-of-top-50-tumbles-38-over-past-7-days/" title="Dogwifhat (WIF) Falls Out Of Top 50, Tumbles 38% Over Past 7 Days" rel="nofollow"></a>
Dogwifhat (WIF) saw the steepest 7-day price decline, falling out of the top 50 cryptocurrencies by market cap but remains in fourth place among meme coins. 
Solana meme coin <a href="https://bitcoinworld.co.in/bitcoin-exchange-okx-announced-listing-of-two-new-memecoins-wif-and-mew/">Dogwifhat (WIF)</a> has fallen out of the top 50 cryptocurrencies by market cap, as its price tumbled 38% over the past seven days. 
On June 23, Dogwifhat’s market cap fell down 9% to $1.60 billion in a 12-hour period, which led to Fantom (FTM) overtaking its position in the top 50 cryptocurrencies by market cap, rising 2.24% at $1.65 billion. 
“Many people are talking about how WIF is in their accumulation zone, but I just checked the chart and it doesn’t seem like anyone is accumulating,” pseudonymous crypto trader Blockgraze wrote in a June 23 X <a href="https://x.com/blockgraze/status/1804928292073419200">post</a>. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 many people are talking about how WIF is in their accumulation zone, but I just checked the chart and it doesn’t seems like anyone is accumulating 
 — blockgraze (@blockgraze) <a href="https://twitter.com/blockgraze/status/1804928292073419200?ref_src=twsrc%5Etfw">June 23, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Dogwifhat still remains the fourth largest meme coin by market cap, positioned below PEPE, which has nearly three times the market cap of Dogwifhat at $4.57 billion. 
At the time of publication, Dogwifhat is trading at $1.62, down 38% over the past seven days, <a href="https://coinmarketcap.com/currencies/dogwifhat/">according</a> to CoinMarketCap data. 
<figure id="attachment_75211" aria-describedby="caption-attachment-75211" style="width: 100%" class="wp-caption aligncenter">
 <img fetchpriority="high" decoding="async" class="size-medium wp-image-75211" src="http://bitcoinworld.co.in/wp-content/uploads/Dogwifhat-Price-Chart-585x300.webp" alt="" width="585" height="300" srcset="https://bitcoinworld.co.in/wp-content/uploads/Dogwifhat-Price-Chart-585x300.webp 585w, https://bitcoinworld.co.in/wp-content/uploads/Dogwifhat-Price-Chart-976x500.webp 976w, https://bitcoinworld.co.in/wp-content/uploads/Dogwifhat-Price-Chart-1171x600.webp 1171w, https://bitcoinworld.co.in/wp-content/uploads/Dogwifhat-Price-Chart-768x394.webp 768w, https://bitcoinworld.co.in/wp-content/uploads/Dogwifhat-Price-Chart-1536x787.webp 1536w, https://bitcoinworld.co.in/wp-content/uploads/Dogwifhat-Price-Chart.webp 1637w" sizes="(max-width: 585px) 100vw, 585px">
 <figcaption id="caption-attachment-75211" class="wp-caption-text">
 Dogwifhat Price Chart
 </figcaption>
</figure> 
&nbsp; 
The price decline has seemingly caused futures traders to hold back from betting on Dogwifhat’s near-term direction.&nbsp; 
Open Interest (OI), the total value of all outstanding or unsettled Bitcoin futures contracts across exchanges, has dropped 25% to $209.64 million over the same period, <a href="https://www.coinglass.com/pro/dashboard/bitcoin">according</a> to CoinGlass data. 
If it rebounds by approximately 13% to its price of $1.81 from two days ago, around $13.53 million in short positions will be wiped out. 
The sentiment has shifted dramatically over the past few months, from calls for Dogwifhat’s price to triple when it was trading at $3. 
On March 14, when Dogwifhat hit the $3 mark for the first time, Arthur Hayes, the former CEO of BitMEX and current chief investment officer at Maelstrom, predicted that the Solana-based memecoin would rally to the $10 mark. 
“The hat stays on while I count to $10,” Hayes stated in a March 14 X post.

Dogwifhat (WIF) Falls Out Of Top 50, Tumbles 38% Over Past 7 Days

ItsBitcoinWorld

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