WIF — Strong Selling Pressure And About To Re-Visit $1.10

WIF is a perfect example of how volatile meme coins can be. A blessing for traders and nightmare for investors who bought the top.

Just a couple of days ago, WIF almost hit 3 dollars. And today? The dogwifhat is about to revisit its crucial support at $1.10.

So, let's have a look at the chart.

After touching the $1.1 support during the Black Monday Crash, WIF has started to recover.

However, when WIF printed an inverted U-shape, it quickly became clear that the recovery didn't look healthy. In addition, the sell pressure has been massive (check the chart).

Even worse, on Thursday, WIF fell below a crucial support at $1.55 and continued its downtrend.

Without support from the broader market (e.g., Bitcoin starts to pump like crazy), WIF will likely revisit the $1.1 support.

At this point, it will be interesting to see whether WIF will print a double bottom or is on its road toward <$1