Dogwifhat saw the steepest 7-day price decline among the top 100 cryptocurrencies by market cap but remains in fourth place among memecoins.
Solana memecoin Dogwifhat has fallen out of the top 50 cryptocurrencies by market cap, as its price tumbled 38% over the past seven days. On June 23, Dogwifhat’s market cap fell down 9% to $1.60 billion in a 12-hour period, which led to Fantom — the total value of all outstanding or unsettled Bitcoin futures contracts across exchanges — has dropped 25% to $209.64 million over the same period, according to CoinGlass
If it rebounds by approximately 13% to its price of $1.81 from two days ago, around $13.53 million in short positions will be wiped out.On March 14, when Dogwifhat hit the $3 mark for the first time, Arthur Hayes, the former CEO of BitMEX and current chief investment officer at Maelstrom, predicted that the Solana-based memecoin wouldThis article does not contain investment advice or recommendations.