- Dogwifhat dropped 64%, struggling under strong bearish pressure and weak buying interest.
- Technical indicators confirm a downtrend, with sellers dominating and key support under threat.
- A break below $0.61 could push prices toward $0.50 or even $0.44.
Dogwifhat—WIF , has been on a rough ride, with no clear signs of recovery . After reaching $1.90 last month, the memecoin has dropped to $0.6153, marking a 64% loss in just four weeks. A 7.33% decline on daily charts adds to the pain, while weekly and monthly losses stand at 10.63% and 63.14%. The market remains under bearish control, dragging prices lower with every passing day. Bulls must step in soon to prevent an even steeper drop.
Bearish Technical Indicators Show No Relief
WIF’s price action hints at further downside. The Stoch RSI recently confirmed a bearish crossover, signaling that downward momentum is gaining strength. With lower highs and lower lows forming consistently, sellers continue to dictate price action.
Directional Movement Index offers another warning sign. The negative index has surged to 43.3, while the positive index lags behind at 13. When this setup appears, sellers maintain dominance, leaving buyers with little support. A strong ADX reading reinforces this bearish trend, showing no immediate signs of reversal.
Key Support Levels Face a Tough Test
Dogwifhat’s Open Interest has fallen sharply across exchanges, dropping from $89 million to $67 million in just a week. This decline suggests traders are closing positions, while fewer new investors are entering the market. A lack of fresh demand weakens the chances of a quick rebound.
Dogwifhat now sits at a critical support level near $0.61. Holding above this mark could give bulls a fighting chance, but a breakdown below this zone could trigger a sharper sell-off. If bears extend control, prices could slide toward $0.50 or even $0.44, reaching new yearly lows.
Bulls face a crucial moment. Defending support could restore confidence, but failure to hold above key levels may invite more sellers. The next few days will determine whether dogwifhat stabilizes or continues this brutal downtrend.
