WIF Price at Risk of Crash Despite Whale Buying Frenzy - Here’s Why
Whales gobble up WIF tokens while retail investors brace for impact.
The Buying Spree
Deep-pocketed investors keep stacking WIF positions, betting big against prevailing market sentiment. Their massive purchases create temporary price floors but mask underlying weakness.
The Reality Check
Technical indicators flash warning signals despite the whale activity. Trading volume patterns suggest limited organic demand beyond these large transactions. Market structure shows fragility that even whale money might not fix.
The Cynical Take
Because nothing says 'sound investment' like following the same whales who previously dumped on retail during the last cycle. Classic finance playbook—pump, hold, then watch the little guys bag-hold. WIF's fate now hangs between whale conviction and market mechanics, leaving traders wondering who'll blink first when the real pressure hits.
WIF price technical analysis
The other major risk facing the WIF crypto is that it has formed a double-top pattern at $1.3195 and a neckline at $0.6387, its lowest on June 22. A double-top pattern is a common bearish reversal pattern.
Dogwifhat price has also dropped below the 50-day Exponential Moving Average, while the Relative Strength Index is pointing downward.
Therefore, the price will likely continue falling, with the next key support level to watch being the neckline at $0.6387, its lowest level on June 22.
A break below that level will signal a potential dive to $0.3057, its lowest point this year. This price coincides with the double-top target, which is estimated by measuring the distance between the top and the neckline, and the same distance from the neckline.
