Dogwifhat (WIF) Drops 86%, Bearish Trend Continues
Key Takeaways
- Dogwifhat (WIF) has lost approximately 86% of its value since its peak in November 2024.
- The price is trading below key moving averages (20 EMA, 50 EMA, 200 EMA), indicating a persistently bearish market sentiment.
- The next critical support level is at 0.55–0.56 USD.
- A breakout above the 50 EMA could provide an initial bullish signal.
- The Relative Strength Index (RSI) shows a slight bullish divergence but remains below the neutral level of 50.
Current Price Development of WIF
Dogwifhat (WIF) reached an all-time high of 4.80 USD in November 2024. Since then, the price has been in a continuous downtrend, forming lower highs and lower lows. Currently, WIF is trading below key moving averages (20 EMA, 50 EMA, 200 EMA), indicating ongoing weakness.
A look at the daily chart shows that the price has been moving within a falling wedge pattern. The lower boundary of this pattern has so far acted as dynamic support. However, recent price movements suggest that WIF could experience increased volatility in the short term.
Key Support and Resistance Levels
Immediate support is in the range of 0.55–0.56 USD. If the price falls below this level, the downtrend could accelerate further. On the upside, the 20-day EMA represents the first hurdle. A sustained move above the 50 EMA would be an initial sign of a potential trend reversal.
The next major resistance level is at 1.40 USD. Only if this area is breached could a sustained uptrend establish itself.
Technical Indicators and Market Sentiment
The Relative Strength Index (RSI) is currently in the range of 39–40, indicating a continued bearish market sentiment. A move above the 50 level could signal a shift in sentiment.
In the derivatives market, there is a slight tendency toward short positions, with the overall long/short ratio slightly below 1. However, on some exchanges like Binance and OKX, more bullish positions can be observed.
You should read that too:
-
Asian Slots – The Best Asia-Themed Online Slot GamesReading time: ~ 3 minutes
-
Comic Book Slots – Best Comic-Themed Slots
Reading time: ~ 3 minutes
-
Anime Slots – Anime-Themed Slots
Reading time: ~ 3 minutes
-
Food and Drink Slots: The Best Slot Games Inspired by Culinary Delights
Reading time: ~ 3 minutes
-
Space Slots – Best Space-Themed Slots
Reading time: ~ 3 minutes
A decline in open interest (OI) suggests that many positions have already been closed. If this trend continues, volatility could decrease further unless new market catalysts drive fresh trading activity.
Our Assessment
Dogwifhat (WIF) remains in a challenging market environment. Technical analysis indicates ongoing weakness as the price trades below key moving averages.
A breakdown below the 0.55 USD support level could trigger further losses. On the other hand, a move above the 50 EMA would be an initial bullish signal. Investors should look for a combination of multiple positive signals before considering a long position.
Overall uncertainty in the crypto market remains high. Therefore, it is advisable to closely monitor price developments and wait for clear trend reversal signals.
| Wagering requirements | 35x bonus |
| 35x free spins winnings | |
| Minimum deposit | €20 |
| Maximum bet | €5 |
| Bonus validity | 30 days to claim |
| 14 days to wager / 7 days for free spins |
- There is no maximum bonus amount.
- 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
| Wagering requirements | 40x bonus |
| 40x free spins winnings | |
| Minimum deposit | 0.0005 BTC |
| Maximum bet | 0.00004 BTC |
| Bonus validity | 30 days after registration |
| 14 days (1st), 7 days (2nd), 1 day (3rd) |
- To get the bonus, enter the bonus code before the deposit.
- Minimum deposit: 0,07 BCH • 0,4 LTC • 233 DOG • 45 XRP • 0,01 ETH • 20 USDT • 69 ADA • 0,05 BNB • 184 TRX • 20 USDC.
- Maximum bet: 0.007 BCH • 0.0009 ETH • 0.04 LTC • 23 DOGE • 2 USDT • 4 XRP • 18 TRX • 7 ADA • 0.005 BNB • 2 USDC • 2 EUR • 2 USD.
- Free spins are provided in batches of 25 per day.
- Free spins are credited on the Gamebeat slots: Max Miner (1st), Book of Elixir (2nd) and Odin’s Tree (3rd).
| 1st deposit | 120% up to $500 + 100 Free Spins |
| 2nd deposit | 100% up to $300 + 100 Free Spins |
| 3rd deposit | 150% up to $500 + 100 Free Spins |
| 4th deposit | 100% up to $300 + 100 Free Spins |
| Wagering requirements | 45x deposit + bonus |
| 40x free spins winnings | |
| Minimum deposit | $10 (1st) |
| $15 (2nd-4th) | |
| Maximum bet | $5 per round |
| Bonus validity | 30 days to claim, 7 days (1st-4th) |
| 7 days for free spins |
- You must complete the registration and verification process, including a valid email or phone number, to qualify for this bonus.
- You must select the desired bonus during the deposit process.
- There is a maximum withdrawal limit of $10 from winnings derived from free spins.
Advertising transparency