{"id":23415,"date":"2024-06-24T11:00:11","date_gmt":"2024-06-24T08:00:11","guid":{"rendered":"https:\/\/coinengineer.io\/?p=23415"},"modified":"2024-06-24T10:11:16","modified_gmt":"2024-06-24T07:11:16","slug":"solana-memecoin-dogwifhat-wif-plummets-exits-top-50-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/solana-memecoin-dogwifhat-wif-plummets-exits-top-50-cryptocurrencies\/","title":{"rendered":"Solana Memecoin Dogwifhat (WIF) Plummets, Exits Top 50 Cryptocurrencies"},"content":{"rendered":"<p>Having a notable 38% price decrease over the last week, <strong>Solana memecoin Dogwifhat (WIF)<\/strong> has plummeted out of the top 50 cryptocurrencies by market capitalization.<\/p>\n<p>Dogwifhat&#8217;s market capitalization dropped 9% to $1.60 billion during a 12-hour period on June 23, enabling Fantom to pass it. Fantom moved ahead of Dogwifhat with a 2.24% market value increase to $1.65 billion.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/solana-memecoin-dogwifhat-wif-plummets-exits-top-50-cryptocurrencies\/#Market_Reactions_and_Accumulation_Concerns\" title=\"Market Reactions and Accumulation Concerns\">Market Reactions and Accumulation Concerns<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/solana-memecoin-dogwifhat-wif-plummets-exits-top-50-cryptocurrencies\/#Futures_Market_Impacts\" title=\"Futures Market Impacts\">Futures Market Impacts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/solana-memecoin-dogwifhat-wif-plummets-exits-top-50-cryptocurrencies\/#Previous_Predictions_and_Current_Reality\" title=\"Previous Predictions and Current Reality\">Previous Predictions and Current Reality<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Market_Reactions_and_Accumulation_Concerns\"><\/span>Market Reactions and Accumulation Concerns<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Though several traders said <strong>Dogwifhat<\/strong> is in an accumulation zone, pseudonymous crypto trader Blockgraze voiced doubt. &#8220;Many people are talking about how WIF is in their accumulation zone, but I just checked the chart, and it doesn\u2019s seem like anyone is accumulating,&#8221; Blockgraze stated in a June 23 X post.<\/p>\n<p><a href=\"https:\/\/coinengineer.net\/blog\/top-10-altcoins-developers-are-most-focused-on-this-week\/\"><i><span style=\"font-weight: 400;\">This Might Interest You: Top 10 Altcoins Developers Are Most Focused On This Week<br \/>\n<\/span><\/i><\/a><\/p>\n<p>Positioned behind Pepe, which has over three times Dogwifhat&#8217;s market capitalization at $4.57 billion, <strong>Dogwifhat<\/strong> remains the fourth biggest memecoin by market capitalization. CoinMarketCap data shows Dogwifhat trading at $1.62, down 38% over the previous seven days as of writing.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Futures_Market_Impacts\"><\/span>Futures Market Impacts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The price drop has made futures traders cautious about placing bets on Dogwifhat&#8217;s near-term path. Reportedly based on <strong>Open Interest (OI)<\/strong>, the total value of all open or unsettled Dogwifhat futures contracts across exchanges has plummeted 25% to $209.64 million during the same time.<\/p>\n<p>Should <strong>Dogwifhat<\/strong> rise by around 13% from two days ago, nearly $13.53 million in short bets might be eliminated from its $1.81 price. Over the last several months, sentiment has changed drastically from hopeful expectations when Dogwifhat was trading at $3 to present pessimistic views.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Previous_Predictions_and_Current_Reality\"><\/span>Previous Predictions and Current Reality<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Arthur Hayes, former CEO of BitMEX and current chief investment officer of Maelstrom, projected that the Solana-based memecoin would climb to $10 on March 14 when Dogwifhat crossed the $3 mark for the first time. &#8220;The hat stays on while I count to $10,&#8221; Hayes said on a March 14 X post. But the state of the market right now points in another direction.<\/p>\n<p><a href=\"https:\/\/t.me\/coinengineernews\"><span style=\"font-weight: 400;\">Click here to get the latest news from Coin Engineer!<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Having a notable 38% price decrease over the last week, Solana memecoin Dogwifhat (WIF) has plummeted out of the top 50 cryptocurrencies by market capitalization. Dogwifhat&#8217;s market capitalization dropped 9% to $1.60 billion during a 12-hour period on June 23, enabling Fantom to pass it. Fantom moved ahead of Dogwifhat with a 2.24% market value<\/p>\n","protected":false},"author":6,"featured_media":23416,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,1,2],"tags":[4647,5036],"class_list":["post-23415","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-genel","category-news","tag-dogwifhat-wif","tag-solana-memecoin"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Solana Memecoin Dogwifhat (WIF) Plummets, Exits Top 50 Cryptocurrencies - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/solana-memecoin-dogwifhat-wif-plummets-exits-top-50-cryptocurrencies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Solana Memecoin Dogwifhat (WIF) Plummets, Exits Top 50 Cryptocurrencies - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Having a notable 38% price decrease over the last week, Solana memecoin Dogwifhat (WIF) has plummeted out of the top 50 cryptocurrencies by market capitalization. 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