WIF Price at Risk: Dogwifhat Exchange Inflows Rise, Smart Money Selling

The WIF token has experienced a significant rally in recent weeks, mirroring the performance of other Solana meme coins. Its price surged to $1.3142 on Tuesday, marking a remarkable 335% increase from its April lows. This surge propelled its market capitalization past $1.07 billion, placing it as the fourth-largest Solana meme coin after Official Trump (TRUMP), Bonk (BONK), and Fartcoin (FARTCOIN). However, onchain data suggests a potential price correction is underway. A notable indicator is the rising number of tokens held in exchanges over recent days, signaling that some investors are selling their holdings to lock in profits.