The last 24 hours have not been good for cryptocurrency investors. After the decline in BTC price, altcoins were shaken greatly. However, the fact that BTC can avoid deeper bottoms is a positive detail for investors. So, what is the latest situation in meme coins?
Meme Coin Drop
Shiba CoinWe mentioned that it dropped by more than 25 percent in the last 24 hours, and it is not alone. dogecoin $0.409918has also seen popular memecoins such as WIF experience significant declines. As of December 10, the total value of cryptocurrencies in this area fell below 120 billion dollars and fell to the lowest level in the last 3 weeks.
The last time we saw these levels was on November 27, and BTC was not at the point it is today in those days. In addition to the decline in spot price, we also saw open positions in futures decline significantly. PNUT Token Open positions for the company decreased by 30 percent and this is an extremely large number.
After $1.7 billion in liquidations and double-digit declines, the meltdown in open interest is not surprising. In his post today, Coinglass wrote that the biggest liquidation wave of the bull cycle we are in is experiencing.
WIF Coin Listing and Price Target
In the middle of all this chaos Binance The US branch of the stock exchange surprisingly WIF CoinHe announced that he would list on the platform. It was shared that the listing will be held on December 11 (06:00 EST in the USA).
“We are excited to announce that dogwifhat (WIF) is now listed on Binance US! Deposits for WIF are now open on the Solana network. dogwifhat (WIF) is a Solana meme coin launched in November 2023. The name was inspired by the viral image of a Shiba Inu dog wearing a pink knit hat.
Embracing its fun and meme-centric roots, the project uses a deliberately misspelled “wif” in its name to further emphasize its light-hearted appeal.”
Although the announcement does not have a serious impact on the price, WIF Coin’s consideration by Binance USA may be a development that can be priced together with the possible return of BTC. The price, which dropped to $2.59 with the sales made by investors who made a satisfactory profit in a short time, can be considered normal.
However, it seems that the WIF Coin price must regain the support at $2.96 for the short-term bullish scenario to continue.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
