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- Dogwifhat crypto has witnessed higher long liquidation.
- The fear and greed index for the WIF crypto is at 76, indicating extreme greed.
Dogwifhat (WIF) is a meme cryptocurrency on the Solana platform inspired by the Dogwifhat meme.
Similar to tokens like BONK, FLOKI, and BONE, $WIF gains value and popularity through community support and social media buzz rather than traditional financial metrics or inherent utility.
The circulating supply and total supply of the Dogwifhat crypto are 998.905M WIF tokens. Its fully diluted market cap is $2.978B, and the market cap is $2.98B.
The Dogwifhat crypto is the 42nd largest cryptocurrency in the global crypto market. Moreover, the crypto’s volume/market cap ratio is 45.59%, which shows that the crypto’s liquidity is very high.
Dogwifhat Crypto Derivatives Data Analysis
The liquidation chart of Dogwifhat crypto shows a similar amount of long/short liquidation over the last few weeks. It shows a range-bound behavior of the crypto price.
The derivatives trading volume for the crypto has witnessed a surge of 62% over the last 24 hours. The open interest in crypto has also advanced by 13%, resulting in $377.65M.
Also, the value of the long liquidation recorded for the crypto in the last 24 hours is $1.17M, and the short liquidation for the crypto is worth $843.77K.
WIF Crypto Technical Analysis
The price of the WIF crypto is trading in a strong consolidation range and is facing rejection from both sides.
The WIF crypto’s technical chart shows that its price has come from a strong uptrend and is currently at a pause.
The historical trend of the crypto price increases the chances of a breakout in trading price on the higher side. The most recent candlesticks formed on the chart are also bullish, and the crypto price is moving towards higher levels.
WIF/USD Chart by TradingView
On the daily chart of the WIF crypto, the 50-day EMA is formed following the overall price action, and the price is traded above the EMA.
The MACD further shows uncertainty. The MACD and the signal line overlap each other on the daily chart. The histogram length is also too low, which shows a lack of volume and momentum in the crypto.
The RSI is trading in a small range and revolving around the 50 level and the 14-day SMA on the daily chart of WIF crypto. It shows volatility in the trading price of the crypto.
Summary
Dogwifhat (WIF) is trading within a strong consolidation range and facing rejection from both ends.
Despite high liquidity and bullish candlesticks, technical indicators like the MACD and RSI suggest uncertainty. The fear and greed index indicates extreme greed, but future price movement remains unpredictable due to mixed signals and volatility.
The support levels for the WIF crypto are $1.020 and $1.940, followed by resistances at $4.8 and $5.5.
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.
