Dogwifhat (WIF/USD) Sees Whale Exit a Seven-Figure Position, Prompting Speculation About Future Price Action

Dogwifhat (WIF/USD) has seen a whale exit a seven-figure position in the meme coin, prompting traders to speculate about its future price action.

A whale sold around $3.5 million worth of Dogwifhat (CRYPTO: WIF) over a few hours, Degen News reported, citing Solscan data.

One trader commented that this is the "capitulation bottom," a situation where investors and traders can no longer tolerate falling prices and sell their assets out of fear.

Another crypto trader replied, "It’s a good thing they waited until it bottomed instead of selling for 2x the amount a few weeks ago."

Other traders noted that $3.5 million is not a very huge amount for Dogwifhat holders.

Over the past 24 hours, WIF is down 5%.

Down 15% on the week, traders are looking at key support levels and potential trends.

Prominent analyst Pierre pointed out that the asset is back at the $2.2-$2.4 area, which has been support since March. He further mentioned a downtrend at $2.65-$2.80 and suggested Bitcoin’s (CRYPTO: BTC) price performance will drive that of Dogwifhat.

Another crypto trader noted in a bullish tweet that Dogwifhat will take off "sooner or later," while yet another expects WIF to "lead the memecoin mania in coming months."

The influence of Bitcoin as an institutional asset class will be explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

News source：https://www.kdj.com/cryptocurrencies-news/articles/dogwifhat-wifusd-whale-exit-figure-position-prompting-speculation-future-price-action.html

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