Dogwifhat (WIF) has experienced a significant decline, currently trading at $2.00, which represents a substantial 13.89% drop over the past 24 hours. This sharp decrease places Dogwifhat among the top losers today, highlighting increased market volatility and potential investor concern.
With a market capitalization of approximately $1.99 billion, Dogwifhat is ranked as the 46th largest cryptocurrency by market cap. This valuation underscores its considerable presence in the cryptocurrency market, despite the recent downturn.
The substantial market cap indicates significant investment and market confidence, although the recent trend suggests a shift in sentiment or increased selling activity.
The 24-hour trading volume for Dogwifhat stands at $361.49 million, marking a 60.02% increase from the previous day. This surge in trading volume results in a volume-to-market cap ratio of 18.06%.
A high volume-to-market cap ratio indicates that a significant portion of Dogwifhat’s market cap is being actively traded, reflecting substantial market activity and liquidity. However, despite the increase in trading volume, the sharp decline in price suggests that market participants may be reacting to negative news or broader market trends.
Dogwifhat has a circulating supply of 998,845,677 WIF, which is also its total supply. This means that there are no additional tokens expected to be released into the market, which can contribute to scarcity and potentially influence future price dynamics.
The fully diluted market cap, which represents the market value if the entire supply were fully in circulation, is approximately $1.99 billion. Since the circulating supply matches the total supply, the fully diluted market cap is equivalent to the current market cap.
The alignment between the circulating supply and the total supply, coupled with the absence of a maximum supply cap, suggests that Dogwifhat’s supply dynamics are straightforward and predictable.
However, the recent sharp drop in price despite high trading volume indicates significant market volatility and potential concerns among investors.
Overall, Dogwifhat (WIF) presents a complex profile in the cryptocurrency market. Its significant market cap and high trading volume reflect an active market presence and substantial liquidity.
However, the sharp decline in price and high volume-to-market cap ratio suggest heightened volatility and potential investor unease.
Investors should closely monitor Dogwifhat’s ongoing market performance and any relevant news or developments that could impact its future outlook.
The current metrics indicate that while Dogwifhat is a notable asset within the cryptocurrency market, it is currently experiencing significant volatility. As always, a careful assessment of market conditions, news, and broader trends is essential for making informed investment decisions in the dynamic and often unpredictable cryptocurrency sector.
