- Dogwifhat crashes with the broader crypto slump.
- WIF investors cash out and exchange reserves drop.
- iDEGEN could be 2025’s memecoin leader.
The popular meme coin Dogwifhat (WIF) has seen a significant tumble, dropping below the key support level of $2 to $1.70. This decline, though not isolated, occurred alongside a broader crypto market slump, which has seen investors cash out and centralized exchange (CEX) reserves diminish.
However, amidst this WIF downturn, eyes are turning towards iDEGEN ($IDGN), a new AI-driven memecoin, with speculation that it could be the next big thing in the world of memecoins in 2025, especially as its presale winds down this month.
Dogwifhat falls below $2 as a bearish flag pattern forms
Dogwifhat price has crashed nearly 20% over the past 48 hours causing panic among investors. The decline over the past two days has wiped out the memecoin’s gains of the past week after dropping from above $2.1 to $1.70 at press time.
This price crash has led to a noticeable trend of profit-taking among top investors, with one leading holder pocketing $10.8 million in profits while offloading $2.4 million worth of WIF according to Nansen’s PnL Leaderboard data.
This sell-off is mirrored by the movement of WIF tokens off exchanges, with a significant outflow of $24.1 million in the last 24 hours, suggesting that some investors are bracing for a potential rebound once the market stabilizes.
However, despite the current price decline, Dogwifhat (WIF), which started as a whimsical project on the Solana blockchain leveraging the success of dog-themed memecoins like Dogecoin and Shiba Inu, has seen its value soar by an astonishing 2,779,056% from its inception, embodying the wild, speculative nature of meme coins.
The current market cap of $1.77 billion and a trading volume of $357.8 million reflect a market that’s still active yet clearly under pressure.
In addition, the immediate future for WIF looks grim with technical indicators like bearish flag patterns and double-top formations hinting at further declines unless there’s a significant shift in market sentiment.
Could iDEGEN be the future meme coin king?
As Dogwifhat struggles, the crypto community’s gaze shifts towards iDEGEN ($IDGN), an AI-powered memecoin that’s not just another token but a sentient, evolving entity shaped by its community.
Launched with a