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BNB
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$614.45 1.42564
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Bitcoin
Bitcoin (BTC)
$94,316.00 6.60084
Bitcoin price
Ethereum
Ethereum (ETH)
$1,797.25 10.5628
Ethereum price
BNB
BNB (BNB)
$614.45 1.42564
BNB price
Solana
Solana (SOL)
$151.98 8.64098
Solana price
XRP
XRP (XRP)
$2.27 8.52854
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000138 9.46139
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000091 12.36847
Pepe price
Bonk
Bonk (BONK)
$0.0000155 22.21621
Bonk price
dogwifhat
dogwifhat (WIF)
$0.542173 23.56459
dogwifhat price
Popcat
Popcat (POPCAT)
$0.34668 22.12498
Popcat price
Bitcoin
Bitcoin (BTC)
$94,316.00 6.60084
Bitcoin price
Ethereum
Ethereum (ETH)
$1,797.25 10.5628
Ethereum price
BNB
BNB (BNB)
$614.45 1.42564
BNB price
Solana
Solana (SOL)
$151.98 8.64098
Solana price
XRP
XRP (XRP)
$2.27 8.52854
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000138 9.46139
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000091 12.36847
Pepe price
Bonk
Bonk (BONK)
$0.0000155 22.21621
Bonk price
dogwifhat
dogwifhat (WIF)
$0.542173 23.56459
dogwifhat price
Popcat
Popcat (POPCAT)
$0.34668 22.12498
Popcat price
Bitcoin
Bitcoin (BTC)
$94,316.00 6.60084
Bitcoin price
Ethereum
Ethereum (ETH)
$1,797.25 10.5628
Ethereum price
BNB
BNB (BNB)
$614.45 1.42564
BNB price
Solana
Solana (SOL)
$151.98 8.64098
Solana price
XRP
XRP (XRP)
$2.27 8.52854
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000138 9.46139
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000091 12.36847
Pepe price
Bonk
Bonk (BONK)
$0.0000155 22.21621
Bonk price
dogwifhat
dogwifhat (WIF)
$0.542173 23.56459
dogwifhat price
Popcat
Popcat (POPCAT)
$0.34668 22.12498
Popcat price

WIF reaches two-month high, traders bet on downturn

Dorian Batycka
Edited by
News
WIF reaches two-month high, traders bet on downturn

The five-month-old dog-themed meme coin, dogwifhat (WIF), has recorded an impressive price surge amid marketwide bullish sentiment while some traders expect a downfall.

WIF is up by 14% in the past 24 hours and is trading at $3.85 at the time of writing. The meme coin briefly touched an intraday high of $4.05 earlier today — a level last seen in early April. WIF’s market cap is sitting at $3.85 billion, making it the 28th-largest cryptocurrency at the reporting time.

WIF reaches two-month high, traders bet on downturn - 1
WIF price, RSI, open interest and funding rate – May 29 | Source: Santiment

The meme coin’s daily trading volume surpassed the $1.5 billion mark after a 33% surge over the past day. 

According to data provided by Santiment, WIF’s total open interest increased by 17.7% in the past 24 hours — rising from $374.9 million to $441.2 million. When an asset’s open interest suddenly surges, high price volatility is usually expected due to potential liquidations.

Data from the market intelligence platform shows that the total funding rate aggregated by WIF plunged from 0.043% to 0.019% over the past 24 hours. This shows that the amount of traders betting on the meme coin’s price decline has significantly increased.

In addition, the WIF Relative Strength Index (RSI) rose from 61 to 65 in the past 24 hours, according to Santiment data. The indicator shows that the dog-themed meme coin is currently overbought, and even whale price manipulation could be in play.

At this point, the price of dogwifhat could witness sudden movements due to traders taking short-term profits and incoming liquidations.