Panic for DogWifHat Holders as Price Dips Below $1.50 – All Eyes on Crypto All Stars
It may only be Monday, but it’s already a rollercoaster of a week for DogWifHat ($WIF) holders. The Solana meme coin has shed 21.5% of its value over the last seven days and currently trades at $1.35, after sinking below $1.50 on Thursday August 15th.
Altogether, $WIF holders are the biggest losers both over the week and overnight among the Big Five doge-themed meme coins, but all leading meme coins faced substantially higher losses than the market leading cryptocurrencies.
At their current respective prices of $58,150 and $2,581, Bitcoin ($BTC) and Ethereum ($ETH) remain virtually unchanged from seven days ago. Together they lost only a fraction of a percent.
But original meme coin Dogecoin ($DOGE) dropped 3.5% over the week down to $0.09954.
It’s the sector’s biggest meme coin, with a market cap of $14.5 billion, but its closest rival, the $7.7 billion market cap Shiba Inu ($SHIB) posted a slightly greater intra-week loss of 4.1% down to $0.0000131 as of this writing.
The $3 billion market cap Pepe ($PEPE), the meme coin sector’s biggest non-doge meme coin, dropped 11% over the week down to $0.000007248.
Bonk ($BONK) holders felt the same depreciation as their coin has now sunk down to $0.00001727.
According to $WIF’s price chart, the token is currently teetering under the psychologically important $1.50 support level it maintained throughout June and July.
The market crash in early August appears to have dragged overall support down, as highlighted by the diagonal green line.
These last seven days reveal $WIF’s inability to hold $1.50.
A relative strength index (RSI) of 36 and falling indicates heavy selling momentum that is likely to peter out soon, which will stabilize the price again.
As a low-utility $1.3 billion
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