Token

Flow

FLOKI

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-witness-significant-decline-in-wif-token/" data-wpel-link="internal">Investors Witness Significant Decline in WIF Token</a><br></p>
<p style="text-align: justify"><strong>Dogwifhat (WIF)</strong> has long been among the intriguing meme tokens in the cryptocurrency sector. With numerous <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a> supporting the <a href="https://en.coin-turk.com/pepe-coin-a-rising-meme-token-or-just-a-passing-trend/" data-wpel-link="internal">meme token</a>, it witnessed substantial growth. However, recent <strong>price</strong> fluctuations have caused traders significant issues regarding WIF’s price movement.</p> 
<h2 id="wif-liquidations">WIF Liquidations</h2> 
<p style="text-align: justify">In the last 24 hours, over one million dollars in long positions were liquidated. This occurred due to a significant price drop WIF experienced during this period. The meme token’s price fell by 7.26% and was trading at $2.59 at the time of writing. This decline may not be a temporary correction and could be part of a larger trend. Additionally, WIF’s price has been falling since early May.</p> 
<p style="text-align: justify">During this period, the <strong>token</strong> exhibited multiple lower highs and lows, indicating a bearish trend. The Chaikin Money Flow (CMF) also dropped significantly, indicating a decrease in overall money flow into the token. Furthermore, the Relative Strength Index (RSI) also declined, suggesting a significant reduction in bullish momentum around WIF.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-353245 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/wif.jpg" alt="" width="1286" height="406"></p> 
<h2 id="santiment-reports-on-wif">Santiment Reports on WIF</h2> 
<p style="text-align: justify">If WIF’s price continues to face this kind of selling pressure, it may soon drop below $2.4794. Experts’ analysis of <strong>Coinglass</strong> <a href="https://newslinker.co/" data-wpel-link="exclude">data</a> showed that the percentage of short positions taken by bears increased to 52% in recent days. Investors’ overall approach could further drag WIF’s price down in the future.</p> 
<p style="text-align: justify">Additionally, an examination of Santiment data revealed a significant decrease in social volume around WIF. This could indicate an increase in negative comments about the token. Decreasing social volume, combined with declining weighted sentiment, could create significantly high selling pressure. Over the past week, WIF’s competitors DOGE, <strong>SHIB</strong>, and FLOKI saw positive price increases. If this trend continues, WIF could lose a significant market share.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/investors-witness-significant-decline-in-wif-token/" data-wpel-link="internal">Investors Witness Significant Decline in WIF Token</a></h5>

Investors Witness Significant Decline in WIF Token

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