Is the dogwifhat Bubble About to Burst? Here’s What You Need to Know
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DogWifHat ($WIF), a meme coin on the Solana blockchain, has experienced a significant decline, losing 2% in the last 24 hours and 14% over the past week, bringing its current trading price to $1.70. In contrast, Bitcoin ($BTC), the market leader, has seen a drop of 11% over the same week but managed a 0.5% gain overnight.
The recent losses of DogWifHat are more severe compared to Bitcoin, indicating potential concern among investors about the viability and future of the meme coin.
This downward trend raises questions about whether DogWifHat is in a bubble that might be about to burst, posing risks for its investors and the broader meme coin category.
Source: cryptonews.com ↗
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