Solana-based meme coin Dogwifhat (WIF), crypto analyst Crypto Jack has cautioned could be about to have a catastrophic meltdown. He underlined the need of Dogwifhat keeping a price over $3.5 since declining below this level would have disastrous results. To prevent being taken off guard and driven from their positions, Crypto Jack cautioned traders.
In a recent post on X (previously Twitter), Crypto Jack underlined that WIF’s price has to remain above $3.5 if a major collapse is to avoid. From its weekly high of $4, data from CoinMarketCap shows WIF has already dropped below this mark. This implies, based on analysis by Crypto Jack, that the expected crash might have started already.
Analysts Anticipate Dogwifhat Surge
Dogwifhat is still up over 24% in the last seven days despite the latest price decrease, suggesting that this drop might be a transient correction in an otherwise rising trend. Coinglass data indicates, however, that the decline has resulted in the liquidation of around $1.2 million in long holdings during the past 24 hours.
Earlier predicting a bleak future for WIF, another expert, CrediBULL Crypto, suggested the token could decline to as low as $1.6. He said he would think about shorting the meme coin around $3.90 in expectation of a last upward push before a significant decline.
Dogwifhat is hitting this expected height, however CrediBULL Crypto recently said it’s not the appropriate moment to be bearish. Solana is almost in a bounce zone, which would boost WIF to fresh local highs and cause shorting to be premature.
Following its recent drop, crypto researcher and trader Ponzi Trader also sees positive possibilities for Dogwifhat and bets on a comeback from its present range. Analyst Alex Clay sees Dogwifhat’s price at $6.7 driven by positive attitude. Unipcs (Bonk Guy) is even more hopeful, predicting that the meme coin may hit $10 and that it would never plummet to $1 once more.
