Why is Dogwifhat Crashing? WIF Price Tanks 48% as Investors Flock to New AI Meme Coin
In the wake of a 45% pullback from its March highs, investors are asking why the dogwifhat (WIF) price is crashing, with some investors flocking to a fun new AI meme coin Wiener AI (WAI).
The WIF price was last around $2.68, down sharply from its March record highs around $4.86.
The WIF chart suggests that further losses are possible. It is currently trading below its 21 and 50DMAs, suggesting that bears are in market control.
And if it breaks its current upward trend channel, a quick drop back to $2.0 is likely.
The WIF price has crashed from its record highs amid a broader consolidation phase in crypto.
Bitcoin has been stuck in the $60,000s since hitting record highs near $74,000 in March.
Many other altcoins and meme coins have seen much sharper retracements.
WIF could make a strong comeback. With a market cap of around $2.7 billion, gains of more than 5-10x this bull market are unlikely, however.
It’s no wonder that investors are flocking to alternative meme coins with greater upside potential.
One new AI meme coin that analysts at Cryptonews are watching is Wiener AI (WAI).
Currently available in presale, the new AI meme coin WAI could be one of 2024’s best picks. Here’s why.
The meme coin market is over-saturated with Shiba Inu-themed coins boasting little to no real utility.
That probably explains why Wiener AI’s presale has attracted such strong demand.
The sausage dog-themed coin offers a suite of AI-powered trading tools and has already raised over $2 million in its presale.
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