CandleFocus Will Dogwifhat Price Hold $2 Floor Amid Whale Selling Pressure
2024-12-12
Author: Content Editor
The cryptocurrency market saw a positive turn as Bitcoin surpassed the $100k mark, leading to an increase in the prices of major altcoins like WIF. However, a large-scale deposit of 1.2 million WIF tokens by a whale has raised concerns about potential sell-offs and market tops. The whale purchased the tokens 11 months ago for $393,000 and now holds a profit of over $3 million. Despite the recent correction in the dogwifhat price, if the selling pressure continues, it could drop further below the 200-day EMA slope at $3. The support level at $2.3 could provide a rebound for the memecoin, otherwise, a breakdown below the trendline could lead to a further decline.
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