Traders Withdraw Over $40 Million as Dogwifhat (WIF) Price Falls 10%
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Dogwifhat (WIF) price has dropped 10% following Bitcoin's dip below $60,000, leading to over $40 million in withdrawals. The decline in value and trading interest underlines the bearish outlook.
Panic selling intensified the situation, with the Open Interest for WIF falling by $43 million in a day. This points to growing pessimism about the coin's future.
The Relative Strength Index (RSI) remains in negative territory despite recent price recovery, indicating continued market weakness.
To recapture momentum, WIF must reclaim crucial price levels, notably $1.83 as support. Failure to do so could lead to further declines toward $1.52.
Source: beincrypto.com ↗
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