Dogwifhat Faces Sell Pressure, Market Cap Declines

Dogwifhat 面臨拋售壓力，市值下降

Dogwifhat (WIF) has experienced a significant decline in market cap by 31.97%, facing strong sell pressure after its recent recovery. As of the time of writing, WIF's market cap stands at $1.34 billion.

Dogwifhat (WIF) 市值大幅下跌 31.97%，近期復甦後面臨強勁拋售壓力。截至撰寫本文時，WIF 的市值為 13.4 億美元。

Trend in Meme Coins

Meme 幣的趨勢

WIF's price decline mirrors a similar trend observed in other popular meme coins, including Shiba Inu (SHIB), Pepe (PEPE), and Dogecoin (DOGE). Over the past month, DOGE's price has fallen by 16%, while PEPE and SHIB have declined by 36% and 25%, respectively.

WIF 的價格下跌反映了其他流行迷因幣中觀察到的類似趨勢，包括柴犬 (SHIB)、佩佩 (PEPE) 和狗狗幣 (DOGE)。過去一個月，DOGE的價格下跌了16%，PEPE和SHIB的價格分別下跌了36%和25%。

Compared to these peers, Dogwifhat has seen a steeper drop, losing over 53% since July 22nd.

與這些同業相比，Dogwifhat 的跌幅更大，自 7 月 22 日以來跌幅超過 53%。

Liquidation Data

強平數據

According to CoinGlass, WIF long liquidations have surpassed shorts, with over $6.9 million in longs liquidated in the past 10 days, significantly exceeding the $3.12 million in liquidated short positions. This suggests that traders had positive expectations for WIF's price, anticipating its continued rise. However, forced sales due to liquidations intensified downward pressure, leading to a substantial decline.

根據 CoinGlass 的數據，WIF 多頭清算已經超過空頭，過去 10 天清算的多頭部位超過 690 萬美元，大大超過清算的空頭部位 312 萬美元。這表明交易者對WIF的價格抱持正面預期，預計將繼續上漲。但因平倉被迫拋售，下行壓力加大，導致大幅下跌。

Head-and-Shoulders Pattern

頭肩形態

As of the time of writing, Dogwifhat faces potential for further downside movement due to a classic head-and-shoulders (H&S) pattern forming on the daily chart. This pattern consists of three peaks, with the middle peak higher than the outer peaks. A neckline connects the bottom of these peaks.

截至撰寫本文時，由於日線圖上形成了經典的頭肩 (H&S) 模式，Dogwifhat 面臨進一步下行走勢的可能性。此圖案由三個峰組成，中間的峰高於外部的峰。頸線連接這些山峰的底部。

WIF broke below the support line on August 5th but quickly recovered. Currently, it is attempting to retest this support level. If it breaks and rebounds from this line, the H&S pattern will be invalidated.

WIF 於 8 月 5 日跌破支撐線，但很快恢復。目前，它正在嘗試重新測試該支撐位。如果突破該線並反彈，H&S 形態將失效。

Potential Recovery

潛在的恢復

Breaking above the support line could indicate a bottoming out of WIF's price, with a retracement towards the previous high. In that scenario, the next targets would be the 50-day exponential moving average (blue line) and the 200-day exponential moving average (orange line).

突破支撐線可能表示 WIF 價格觸底，並回撤至先前的高點。在這種情況下，下一個目標將是 50 天指數移動平均線（藍線）和 200 天指數移動平均線（橘色線）。