Dogwifhat (WIF) Shows Signs of Downward Trend, Potential for Further Decline

The cryptocurrency market is experiencing a slight cooldown, with Ethereum (ETH) briefly falling below $4,350 before rebounding. Memecoin Dogwifhat (WIF) has followed suit, dropping 11% and erasing most of its previous weekly gains. A pattern resembling past price action suggests potential downside. This familiar trend is visible on the daily chart: WIF remains trapped inside a symmetrical triangle pattern, but short-term signals point to caution. A similar fractal pattern emerged in June, where WIF broke below its 25-day moving average (marked by the first yellow circle), leading to a sharp sell-off and price drop.