– Dogwifhat (WIF) dropped over 11% in 24 hours, testing $0.97 support amid Solana market weakness.
– Whale activity surged with $4M inflows to WIF, outpacing other Solana memecoins like Bonk.
– Technical analysis shows triangle consolidation and short squeeze risks if $0.97 support breaks.
– Long-term challenges include competition from utility-focused memecoins and low retail participation.
– WIF’s recovery depends on overcoming $1 resistance and maintaining above key support lines.