WIF, the meme coin that rode the speculative wave earlier this year, lost nearly 10% of its value in the last 24 hours. The token is now testing a critical support level at $0.18 — a price that could decide its near-term fate. The selloff comes as bears tighten their grip across all timeframes, with the broader meme coin sector bleeding heavily.
Why the selloff is accelerating
The price crash is part of a wider rout in meme coins. Investors have been dumping riskier assets amid a shift in sentiment, and WIF has been hit especially hard. Bears control every trading timeframe, from the hourly chart to the weekly view. There's no sign of a reversal yet. The token's decline is accelerating as stop-loss orders cascade, pushing it toward the $0.18 mark — a level that has acted as a floor in recent weeks.
Technical indicators are flashing red. Momentum readings point to continued weakness, with the next target sitting at $0.17. If that level breaks, the drop could accelerate further. The question traders are asking is whether $0.18 will hold or give way to another leg down.
What the charts say about the next 48 hours
Short-term price action suggests WIF could hit $0.17 within the next two days. The token is trading below its moving averages, and volume is climbing as sellers pile in. The Relative Strength Index is deep in oversold territory, which sometimes triggers a bounce — but given the bearish momentum, a dead-cat bounce is just as likely as a real recovery.
For now, the path of least resistance is lower. The $0.18 support is the only thing keeping WIF from entering uncharted bear territory. If it breaks, there's little on the chart to stop a slide toward $0.15 or even lower. That's the risk that traders are watching closely.
Where the meme coin market stands
WIF isn't alone. Other meme tokens like Dogecoin and Shiba Inu have also taken hits, though none as severe as WIF's 9.9% single-day drop. The selloff reflects a broader rotation out of speculative assets and into more established cryptocurrencies or even cash. Without a catalyst — a listing, a partnership, or a viral moment — meme coins tend to bleed in bearish conditions.
The next few hours will be crucial. If WIF holds $0.18 and volume dries up, a short squeeze could push it back toward $0.20. But if selling pressure continues, that floor will break. No one knows which way it will go. The data just shows that bears are in control — and they're not letting up.
